C10L3

Quiz
•
Business
•
12th Grade
•
Hard
Aaron Munguia
FREE Resource
14 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What form do employees fill out to estimate how much tax will be withheld from their paycheck?
Form 1099
Form 1040
Form W-2
Form W-4
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the deadline for filing your tax return for the previous calendar year?
January 31
March 15
April 15
June 30
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What penalty does the IRS impose for not filing a tax return?
10% of unpaid taxes per month
20% of unpaid taxes per month
15% of unpaid taxes per month
5% of unpaid taxes per month
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What document do employers provide by the end of January for tax purposes?
Form W-2
Form 8283
Form 1040
Form 1099
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What happens if too much tax is withheld from your paycheck?
You owe more taxes
You get a refund
You pay a penalty
You receive a bonus
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the goal when filing taxes in terms of refund or payment?
To pay as much as possible
To owe a large amount
To get a large refund
To get as close to zero as possible
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the penalty for filing taxes more than 60 days late?
Minimum of $1000 or 150% of taxes owed
Minimum of $500 or 75% of taxes owed
Minimum of $200 or 50% of taxes owed
Minimum of $435 or 100% of taxes owed
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