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WorksheetsPersonal Finance | Topic 5 Income & Taxes Quiz
Total questions: 15
Worksheet time: 11mins
Match the following Tax Forms
I am received in January
There is one of me for every job you work
You can tell how much you earned and how much you paid in taxes by reading me
W-2
I am completed every April
Form used to File your taxes
1040
I am received whenever you start a job
You list information about yourself and your family on me
I determine how much money gets taken out of each paycheck
W-4
I am received whenever you start a job
You use me to prove that you are eligible to work in the U.S.
You must provide forms of identification when submitting me
Used in Identify Verification
I-9
I am received in January
You get me if you are not an employee but were paid by a company
You can also get me for other types of income, such as gains and losses in brokerage accounts, dividend and interest payments, and more
You probably didn’t get taxes withheld if you got me, so you may have a big tax bill coming up
1099
Which of the following is NOT a type of Income
Earned Income
Passive Income
Portfolio Income
Gift Income
Which of the following are included in FICA
Federal Income Tax
State Income State
Social Security Tax
Medicare Tax
What date is Tax Day?
January 31st
April 15th
April 1st
December 25th
a report that a taxpayer has to submit annually to the government and is used to determine a person's tax liability
Gross Income
Net Income
Tax Credit
Tax Return
the amount you earn before taxes and other payroll deductions
Earned Income
Net Income
Taxable Income
Gross Income
what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
Net Income
Earned Income
Gross Income
Gross Profit
any income (wages/salary) that is generated by the work someone performs
Gross Income
Earned Income
Portfolio Income
Taxable Income
the portion of an employee's pay held back to cover taxes and other deductions
Fixed Spending
Budgets
Deductions
Withholding
How much is the gross pay?
(a)
How much is the net pay?
(a)
How much was the Wages, tips, and other compensations in Box 1?
(a)
How much was Federal Income Tax Withheld?
(a)
What form is this?
W-2
W-4
1040
I-9
Which form is this?
W-2
WD-40
W-4
1040
