Taxes Review

 Which of the following paycheck withholdings puts money into a retirement investment fund that you will manage?

• Medicare

• 401(k) contribution

• Federal income taxes

Who is responsible for filling out a W4 form?

• You
• Your employer
• Your Bank
• The IRS

Which is bigger, gross pay or net pay?

• gross pay
• net pay

This is a tax you pay when you work. Money is taken away from your pay check

• Sales

• Property

• Income

Date your federal tax returns are due:

(Month (spelled out) and year

Why is it important to be extremely careful when completing your 1040 form?

• it determines whether you owe additional taxes or are entitled to receive a refund from the government

• making even one mistake on your federal taxes can result in your being convicted of a crime

• completing the 1040 form incorrectly will mean the wrong amount of taxes will be withheld form your paychecks going forward

• mistakes on your 1040 form make you ineligible for employment during the next year

What is this form?

• w2
• w4
• 1040
• 1040ez

All of the following options are benefits we recieve as a result of a goverment spending EXCEPT...

• Health and retirement benefits for seniors

• Credit card debt forgiveness

• National parks maintenance

• Public school education

The deadline to submit taxes or file an extension is

• March 1

• March 15

• April 1

• April 15

Jason filed his tax return and owes money. If he doesn't want to pay a fee, when should he pay this amount by?

• April 15th

• October 15th

• December 31st

• January 1st of the next year