Tax Test

A person who pays a tax to national, state, county, or municipal (city/town) government.

• Tax Liability

• Tax Tables

• Taxes

• Taxpayers

• Unearned Income

When do taxes have to be filed?

• April 14

• April 15

• April 16

• April 17

Amount of total tax owed on income for the year.

• Tax Liability

• Tax Tables

• Taxes

• Taxpayers

• Unearned Income

How do you determine tax liability?

• Taxable Income - Deductions = Tax Liability

• By using discretionary income

• By using the tax tables provided by the IRS

• None of these

An individual who relies on someone else for financial support, such as a child, a spouse, or an elderly parent.

• Audit

• Dependent

• Excise Taxes

• FICA Taxes

• Form W-2

A subtraction from gross pay.

• Gross Income

• Net Pay

• Payroll Deduction

• Property Tax

• Sales Tax

How much is taken out of an employee’s gross income for Social Security?

• 7.65%

• 6.2%

• 1.45%

• None of these

A Wage and Tax Statement that shows an individual’s earnings and the amounts of taxes withheld from the earned income during the current year.

• Audit

• Dependent

• Excise Taxes

• FICA Taxes

• Form W-2

Earnings from sources other than work.

• Tax Liability

• Tax Tables

• Taxes

• Taxpayers

• Unearned Income

You must always file your taxes in order to get a refund from the IRS.

• True

• False