Income & Taxes Exam

First Name:

Last Name:

Teacher:

• Anderson-Stowe
• Brink
• Kabourek
• Sullivan

Class Period:

• Period #1
• Period #2
• Period #3
• Period #4
• Period #5

FICA includes taxes to pay for:

• Social Security and Medicare
• Social Security and unemployment
• Unemployment and Medicare.
• Medicare and workers compensation.

You can file a 1040 as long as your income isn’t greater than:

• $50,000
• $75,000
• $100,000
• $150,000

When do you need to use the Standard Deduction Worksheet (for line 9 of the 1040)?

• If you can be claimed as a dependent.
• If you cannot be claimed as a dependent.
• If you are the head of the household.
• If you earn over $12,000 in income.

The form that you fill out when you are hired that tells your employer how much to take out of your paycheck is know as what?

• 1040
• W-4 Form
• W-2 Form
• 1099-INT

The tax form provided by your employer that states how much money has been taken out of your paycheck over the course of the year is the

• 1040
• W-4 Form
• W-2 Form
• 1099-INT

A person who relies on someone else for financial support is known as

• Exempt status
• An independent
• A dependent
• Taxable interest