A standard workweek is

Rate x Hours Worked =

Employers must contribute matching amounts into each employee’s Medicare and Social Security accounts.

If you are a salaried worker,

The largest source of government revenue in the United States is

A tax for which the rate is assessed on the value of what is being taxed is called a

Employers must pay all employees overtime at the rate of 1.5 times the regular rate.

Some payroll deductions are required by law, but others are optional.

In the United States, the power to impose federal taxes rests with

In this kind of audit, the IRS sends a letter to the taxpayer, asking him or her to answer specific questions about the tax return.

Allowances are taxes deducted from the wages earned each pay period

On a local level, taxes pay for services such as education, parks, roads, and police, fire, and health departments.

Federal income taxes are regressive.

Net Pay is also called

In the United States, the responsibility for filing a tax return rests with the individual. This defines the concept of

In the United States, both businesses and individuals pay income taxes and must file income tax returns each year.

Only married taxpayers qualify for the head of household filing status.

Your filing status on your tax return is based on

Which of the following is an example of non-taxable income?

A tax _____ is an amount subtracted directly from the tax owed.

All forms of income are taxable and must be reported to the IRS for tax purposes.

Even if you hire a professional tax preparer, you are responsible for supplying accurate and complete tax information.

You must file your tax return by this date every year.

Which tax form shows you your income earned and taxes withheld by your employer for the full year and is used to file your federal and state taxes?

In the United States, all citizens are expected to prepare and file tax returns on their own without being forced to do so by the government.

When you start a new job, your employer will require you to complete tax form

Net pay is the total amount earned after deductions

Sales tax amount is subtracted from the price of the item being purchased.

Which form do you complete each year to file your income taxes with the IRS?