Which agency of the U.S. government is in charge of tax collection and enforcement?

• Social Security Administration

• IRS (Internal Revenue Service)

• Federal Deposit Insurance Corporation

• Department of Commerce

What is the total pay a worker earns before anything is taken out?

• Gross Pay

• Salary

• Net Pay

• Overtime Pay

A child or family member who depends on another person’s income for support is called a:

• Employer

• Dependent

• Taxpayer

• Beneficiary

Which tax system takes a larger percentage as income increases?

• Flat Tax

• Tax Bracket

• Progressive Tax Rate

• Marginal Tax Rate

Which form provides employees and the IRS with a record of yearly earnings and deductions?

• W2

• W4

• 1099

• I-9

What is the tax on wages and salaries that goes to federal, state, and sometimes local governments?

• Sales Tax

• Property Tax

• Income Tax

• Payroll Tax

What tax rate applies only to the next dollar earned?

• Progressive Tax

• Flat Tax

• Tax Bracket

• Marginal Tax Rate

The amount of money you actually take home after deductions is called:

• Gross Pay

• Salary

• Net Pay (Take Home Pay)

• Taxable Income

Which dates mark the federal income tax year?

• July 1 – June 30

• January 1 to December 31

• April 15 – April 14

• December 31 – January 1

Which form reports payments to self-employed workers or independent contractors?

• 1040

• 1099

• W4

• W2