WorksheetsFederal Income Taxes
Total questions: 25
Worksheet time: 22mins
The federal income tax due on Roger's 1040EZ is LESS than the federal income tax withheld (from his gross pay). Roger...
owes money to the IRS
should increase his payroll allowances
will get a refund
should increase his salary
The deadline to file your tax return.
January 31
January 1
December 31
April 15
This form states the amount of money a person earned and the amount of taxes paid throughout the previous year. It is used to complete income tax forms for the IRS.
W2
W4
I9
1040EZ
Taxpayers should not itemize unless their deductions exceed the standard deduction.
True
False
Which federal income tax form should a single person, with no dependents file?
1040ez
1040
1099
Schedule A
The deadline for employers to provide you with your W2 is....
January 31st
March 15th
February 5th
January 20th
When it comes to taxes, you want your taxable income to be _________ .
low
high
the same as it was last year
whatever it is; it makes no difference
What is an example of unearned income?
dividends, interest
wages, tips
dividends, wages, interest
donations
Your total income for the year is called _________ .
gross income
net income
unearned income
taxable income
Gross Income - Adjustments to Income =
Taxable Income
Deductions
Exemptions
Adjusted Gross Income
How many exemptions can a couple with 3 dependent children claim?
4
5
3
6
The income on which you actually pay a tax is called
Adjusted Gross Income
Unearned Income
Taxable Income
Earned Income
Taxable income for a single dependent is calculated as
Adjusted Gross Income + Deductions
Adjusted Gross Income - Exemptions
Adjusted Gross Income - Deductions
Adjusted Gross Income + Exemptions
Which of the following forms of income would not be taxable (it would be subtracted as an adjustment to income)?
Commissions
Interest
Alimony
Wages
Which of the following is NOT something you can itemize as a deduction?
Charitable Contributions
Medical and Dental Expenses
Cost of Family Birthday Presents
Home Mortgage Interest
