WorksheetsTaxation Quiz
Total questions: 14
Worksheet time: 7mins
A _____ tax imposes a higher tax rate on those with higher incomes.
direct
proportional
regressive
progressive
Gross pay minus deductions is _____.
net pay
gross income
overtime pay
bonus pay
Payment for work that is calculated on an hourly basis is called a(n) _____.
bonus
salary
wage
unearned income
What is the last day to file a federal income tax return?
April 15
April 25
August 15
August 25
Which of the following is not a reason legislators raise or lower taxes?
a. to address social challenges
b. to stabilize the economy
c. to influence taxpayer behavior
d. to punish groups of people
What is it called when the federal government spends more money than it collects?
a. deficit spending
b. mandatory spending
c. discretionary spending
d. taxable spending
Which federal program pays for certain health-care expenses for older citizens and others with disabilities?
a. Social Security
b. Medicare
c. Medicaid
d. VITA Programs
Which of the following is not a benefit category provided by Social Security?
a. disability benefits
b. divorced people's benefits
c. survivor's benefits
d. low-income benefits
Match the following terms with their definitions. Total income before payroll deductions.
gross pay
net pay
taxable income
disposable income
How is net pay calculated?
By adding gross pay and deductions
By subtracting deductions from gross pay
By multiplying gross pay by tax rate
By dividing gross pay by number of hours worked
Which of the following is an example of an employee benefit?
Health insurance
Office supplies
Company logo
Meeting room
When is the filing deadline for income taxes?
April 15th
March 15th
May 15th
June 15th
Which of the following is an example of a progressive tax?
Sales tax
Flat tax rate on all income
Income tax that increases with income levels
Property tax based on property value
Which of the following is a characteristic of a regressive tax?
Higher income earners pay a higher percentage
Lower income earners pay a higher percentage
All income levels pay the same percentage
Tax rate decreases as income increases
