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WorksheetsBASIC PERSONAL INCOME TAX. 3
Total questions: 20
Worksheet time: 20mins
The filing status with the highest standard deduction is
single
married filing a joint return
married filing a separate return
head of household
The Standard Deduction for being Single is what?
8,000
12,000
18,000
24,000
Select three items that can be used as itemized deductions
Medical and Dental Expenses
Home Mortgage Interest
State and Local Taxes
Personal Food and Rent Expenses
The Child Tax Credit amount for a dependent child under 17 is
2,500
1,500
2,000
500
When total tax payments are greater than the total tax, taxpayers has a(n)
Amount Due
Equal Balance
Refund
Credit
A taxpayer can use their refund to (select all the apply)
buy U.S. Treasury Securities
buy U.S. Series I Savings Bonds
Save in a retirement program
Buy a Gucci bag
What information do you need to Direct Deposit your refund? (select all that apply)
Routing number (nine digits)
Account Balance
Account Number
Check Number
Only taxpayers who file electronically can pay an amount due by:
check
credit card
money order
Electronic funds withdrawal (direct debit)
Which is not a benefit of a direct deposit of a refund?
There is a convenience fee for having a refund deposited directly into a bank account.
Refunds that are directly deposited to an account in a bank account are received faster than by mail.
Refunds that are directly deposited to an account in a bank account save taxpayer time by eliminating trips to financial institutions.
Refunds made by direct deposit cost less than issuing checks.
When the total tax is greater than the total tax payments, taxpayers has a(an)
Amount due
Refund
Tax Credit
Tax Proportion
Taxpayers who cannot make payment for an amount due in full need to
Send their tax return and wait for the IRS to send a bill
Report to tax debtor prison
Contact the IRS to discuss payment options
Leave the USA, change their names, and never come back
