Worksheets2.4 Do Now
Total questions: 10
Worksheet time: 20mins
Name
Class
Date
1.
Which tax form is used to provide information about your previous year's pay and deductions from that year?
a)
W2
b)
W4
c)
1040A
d)
1099-INT
2.
Who is responsible for providing the W2 form?
a)
You
b)
Your Employer
c)
Your bank
d)
The IRS
3.
What do your taxes help support?
a)
Public safety (Firefighters, Police, Hospitals)
b)
Infrastructure (Roads, Libraries, Museums)
c)
Education (Schools)
d)
National Parks/Public Parks
4.
Which tax is to help pay for health care for people age 65 and older?
a)
Obamacare
b)
Medicaid
c)
Medicare
5.
FICA tax is broken down into what 2 categories?
a)
SS and Medicaid
b)
SS and Medicare
c)
Medicare and Payroll
6.
What percent of gross are FICA taxes (social security + medicare)?
a)
it varies
b)
1.45%
c)
6.2%
d)
7.65%
7.
What is this form?
a)
w2
b)
w4
c)
1040
d)
1040ez
8.
How much did this person pay in federal income tax?
a)
$6835
b)
$50000
c)
$3100
d)
$725
9.
How much did this person pay in social security tax?
a)
$6835
b)
$50000
c)
$3100
d)
$725
10.
How much did this person pay in Medicare tax?
a)
$6835
b)
$50000
c)
$3100
d)
$725
100 %
