WorksheetsU2 Federal Income Tax
Total questions: 19
Worksheet time: 28mins
As taxable income decreases, income tax _____.
Decreases
Increases
Remain the same
You move up in _____ as your taxable income increases.
tax brackets
credits
refund amount
allowances
On the Roger's year 2022 1040 tax return, Tax Line 24 exceeds Total tax payments Line 33. Does Roger have a refund or amount owed?
owes money to the IRS
should increase his payroll allowances
will get a refund
should increase his salary
William received a letter in the mail from the IRS requesting tax documentation. Which term describes this process?
Audit
Tax evasion
Tax exemption
Proportional tax
Which entity has the power to create or alter federal income tax and tax laws?
Congress
Supreme Court
Internal Revenue Service
State governor
Which of the following is NOT on the 1040EZ?
Wages, salaries, and tips
Taxable income
Head of the household tax filing status
Earned Income Credit (EIC)
On your tax return, which of the following is EXCLUDED from gross income on a tax return?
Unemployment compensation
Child support you receive
Interest earned on a Certificate of Deposit (CD)
Tips
Your paycheck is largest if you elect which of the following allowances on your Form W4? (Ch2)
4
2
5
3
____ is the deadline to file your tax return.
January 31
January 1
December 31
April 15
Which of the following is NOT included in gross income (on your tax return)?
Wages
Tips earned as wait staff
Interest earned on savings/ bonds
Alimony you paid
