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NCVPS FM Unit 3 Review

Total questions: 12

Worksheet time: 30mins

Name
Class
Date
1.

Taxes are ____________ that the government requires people to pay who ive and/or work in their state.

a)

fees

b)

contributions

c)

bonuses

2.

You pay income taxes on your _______________ income.

a)

Earned

b)

Unearned

3.

Federal taxes are collected by the _________________.

a)

NC Department of Revenue

b)

NC Department of Finance

c)

Internal Revenue Service

4.

The ________ is the form you complete to tell how much in taxes should be taken from your pay check each pay period.

a)

W - 2

b)

W - 4

c)

1040EZ

5.

Which of the following would NOT be considered a dependent?

a)

Deontae is 17 years old and a full - time high school student.

b)

Patricia is 21 years old, a full - tim college student and has a part time job.

c)

Larian is 20 years old and works full - time.

6.

The ________ form gives you information you need to complete your federal and state income tax returns.

a)

W - 2

b)

W - 4

c)

1040EZ

7.

Which of the following should use the 1040EZ tax form?

a)

Robert is 35 years old, single with no children and makes $45,000 a year.

b)

Patricia is 30 years old, married with 2 kids and makes $39,000 a year.

c)

Kiana is 28 years old, single with no children and makes $110,000 a year.

8.

What value would you enter in line 6 of the following 1040EZ form?

a)

20508.46

b)

9750.00

c)

10758.46

9.

Would the following person receive a refund or owe taxes?

a)

Refund

b)

Owe taxes

10.

If you live in NC and must file a state income tax return, what form do you use?

a)

1040EZ

b)

NC D400

c)

W - 4

11.

What is the due date for filing your Income Tax Returns?

a)

December 31st

b)

January 31st

c)

April 15th

12.

Taxes are used by each government agency to __________.

a)

Provide money to corporations to sell goods.

b)

Provide community services.

c)

reduce every person's tax home pay.