EPF- Taxes

How much did James pay in FICA tax?

• $7.69

• $32.86

• $58.30

• $40.55

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EPF.IE.2

How much did James make during this pay period?

• $205.65

• $324.35

• $530.00

• $400.00

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EPF.IE.2

How much of this paycheck did James pay into OPTIONAL deductions?

• $25.00

• $50.00

• $205.65

• $75.00

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EPF.IE.2

All of the following people can be claimed as a dependent for tax purposes EXCEPT…

• A 23 year old college student whose parents pay all of their expenses

• A 17 year old high school student with a part-time job whose parents pay for all of their expenses

• A 20 year old college student with a paid internship who pays for all of their own expenses

• A 25 year old cousin with no job who has lived in your parent/guardian’s house for the last year

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EPF.IE.2.1

For anyone filing a tax return, what is the standard deduction?

• $12,950

• $5,500

• $12,000

• Gross income + $400

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EPF.IE.2.1

For anyone filing a tax return, what is the amount required to file if you have unearned income?

• $12,950

• $1,150

• $400

• Gross income + $400

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EPF.IE.2.1

Which of the following is NOT a category of mandatory spending for taxes?

• Military

• Medicare

• Social Security

• Interest on Debt

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EPF.IE.2

Medicare and Social Security are mandatory spending categories funded by which type of taxes that are withheld from your paycheck?

• FICA

• Federal

• State

• Local

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EPF.IE.2

When you get approved for an extension, what month is your new tax date in?

• May

• December

• January

• October

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EPF.IE.2

The last day to file your Federal and State taxes is...

• January 31st

• October 15th

• April 15th

• December 31st

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EPF.IE.2