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WorksheetsUnit 5.4 Taxes
Total questions: 13
Worksheet time: 39mins
Who primarily uses our tax money? (hint: choose 2 correct answers)
Your employer
The state government
The Federal government
Local Businesses
What are the four most common taxes that come out of a person’s payroll check?
Federal Income Tax
State Income Tax
City/Local Income Tax
Medicare Tax
Social Security
withheld from an employee’s wages or salary
disposable income
payroll taxes
workers compensation
earned income
What government department collects personal income tax?
Federal Government
IRS
Social Security Division
Congress
In most circumstances, which of the following persons can be claimed as a dependent on a Form W-4? Mark all that apply.
yourself
your spouse
your parents
your children
your pets
What are the four most common taxes that come out of a person’s payroll check?
Federal Income Tax
State Income Tax
City/Local Income Tax
Medicare Tax
Social Security
By what date must employers provide, or place in the mail, a wage earner's W-2 statement?
January 1
January 31
April 1
April 15
Which form is used to report an employees earnings and taxes paid in a year?
W-2
W-4
I-9
1040
Federal law requires employers to pay a minimum wage.
True
False
Tax deductions are calculated as a percentage of net pay.
True
False
Unearned income is reported on your tax form and taxes must be paid on them.
True
False
What is the deadline for filing personal income tax?
January 31
April 15
May 31
June 15
