wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

Taxes

Total questions: 12

Worksheet time: 9mins

Name
Class
Date
1.
The amount of money you actually receive after the deductions are taken from your gross income.
a)
Net income
b)
Deductions
c)
Wages
d)
Tax
2.
Amounts of money taken from income before you are paid.
a)
Commission
b)
Retainer
c)
Deductions
d)
Rate
3.
Total money you earn before taxes and other deductions.
a)
Salary
b)
Net income
c)
Gross income
d)
Wages
4.

This form will be sent to Lily by the end of January. She will use this W-2 form to…

a)

Obtain employment

b)

Receive her paycheck

c)

File her income taxes 

d)

Begin her retirement savings

5.

All of the following employee information is included on a W-2 form EXCEPT...

a)

Employer name and EIN (Employer Identification Number)

b)

Employee’s Social Security Number

c)

Employee’s date of birth

d)

Employee’s current address

6.

IRS stands for

a)

Internal Revenge Service

b)

International Revenue System

c)

Internal Revenue Service

d)

Inspection Ravioli Sauce

7.

When you are ready to file for taxes you must have form

a)

W-2

b)

W-6

c)

WD40

d)

W-2484

8.

Which of the following do homeowners pay based on the value of the residence?

a)

Corporate taxes

b)

General sales taxes

c)

Individual income taxes

d)

Property taxes

9.

Earning income can consist of salaries, wages, tips, and more.

a)

True

b)

False

10.

Taxes help pay for government services like roads, education, the military

a)

True

b)

False

11.

When you file your taxes, you will use a ________ form.

a)

Timesheet

b)

W2

c)

1040

12.

If too many taxes were deducted from your gross pay, the government will send you money back after you file your taxes... This is called a _________.

a)

Pay Period

b)

Timesheet

c)

Tax Return or Tax Refund