WorksheetsTax Breaks, Tax Status, Standard Deductions
Total questions: 16
Worksheet time: 8mins
Money that you can subtract from your taxable income.
refund
payroll tax
income tax
deductions
Person that you are financially responsible for such as your children.
exemptions
standard deduction
dependents
tax breaks
A set amount that gets subtracted from your taxable income per dependent.
standard deduction
intiemized deduction
exmptions
allowances
Refers to if you are filing your taxes as single or married.
filling option
filing status
options
tax allowance
Using adjustments such as health care, donations, and interest as deductions when completing taxes.
standard deduction
itemized deduction
payroll tax
exemptions
Amount of money you receive from the government after filing taxes if you paid more than you were required.
bonus
refund
cash back
inheritance
A set amount set by the government that you can use for filing taxes.
exemptions
allowances
standard deduction
refund
Who can claim the standard deduction?
Everyone
People Under 19
Full-time students under 24
65 & older
Can you claim the standard deduction AND itemize deductions?
Yes
No
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
What government department collects personal income tax?
Federal Government
IRS
Social Security Division
Congress
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
Which form is used to report an employees earnings and taxes paid in a year?
W-2
W-4
I-9
1040
Roads, police, schools, governmental agencies, fire and emergency services are all funded by taxes
true
false
