Taxes Unit

A tax form that is sent to you by January 31st each year.

• 1040

• W-4

• W-2

• 1099 INT

What is the purpose of a W-4 Form?

The due date for filing your tax return is __________.

Which of the following is Federal Income Tax used to fund?

• Military/Defense

• Government Pensions

• Fire Departments

• Roadways

Which tax has a taxable income cap?

• Personal Income Tax

• State Income Tax

• Medicare

• Social Security

Which of the following are payroll deductions?

• Property Tax

• State Income Tax

• 401(k) and IRA contributions

• Phone Bill Payment

• Health Insurance Premium

What percentage of your gross pay is deducted from your paycheck for FICA?

An amount that can be subtracted from a person's tax liability that lowers their taxable income.

• Tax Deduction

• Tax Credit

• Dependent

• Tax Return

An amount subtracted directly from the tax owed.

• Tax Deduction

• Tax Credit

• Tax Rate

• Progressive Tax

What is the total amount of tax that must be paid called?

• Tax Deduction

• Tax Refund

• Tax Liability

• Tax Credit