WorksheetsTaxes Quiz
Total questions: 18
Worksheet time: 5hrs 30mins
The W-4 form lets...
the government know how much you paid in taxes last year
your employer know how much to withhold from your paycheck
the 3 major credit bureaus know how many dependents you have
you know how much you paid in taxes last year
The more allowances you claim on your W-4...
The more money is withheld from your paycheck
The less money is withheld from your paycheck
The # of allowances doesn't impact how much $ is withheld
You claim allowances on a W-2, not the W-4
What do you need to file your 1040 or 1040EZ form?
Your W-2
Your W-4
Your prior year's tax return
Social Security Number
All of the following employee information is included on a W-2 form EXCEPT...
Employer name and EIN (Employer Identification Number)
Employee’s Social Security Number
Employee’s date of birth
Employee’s current address
IRS stands for
Internal Revenge Service
International Revenue System
Internal Revenue Service
Inspection Ravioli Sauce
Jay filed his taxes and found out he owes money. What is the most reasonable explanation as to why he owes money in taxes?
Not enough money was withheld from his paychecks.
Too much money was withheld from his paychecks.
When filing his taxes, Jay accidentally checked “Married filing jointly” instead of “Single”.
The IRS is asking Jay for a future advance on his possible taxes for next year.
a tax on the value of land, buildings, cars, and other kinds of personal assets
revenue
income tax
property tax
sales tax
withholding
a tax collected on the purchase price of goods or services
revenue
income tax
property tax
sales tax
withholding
The Internal Revenue Service (IRS) oversees the collection of federal taxes. • Each year, individuals must file an income tax return using form ______. • This ensures that citizens have paid the correct amount of tax.
W-4
W-2
1040
1099
If you made $50,000, but your deductions were 8,950, your taxable income would be ____.
$41,050
$8,950
$50,000
$31,050
