WorksheetsSpring 2026 Education- Income & Taxes TEST
Total questions: 60
Worksheet time: 15hrs 0mins
What is the filing status checked on the form?
Married filing jointly
Single
Head of household
Qualifying surviving spouse
What is the standard deduction amount for a single filer according to the form?
$12,000
$13,850
$14,000
$15,000
What is the total income reported on line 9 of the form?
$14,020.00
$16,020.00
$18,020.00
$20,020.00
What is the form number for the tax document shown in the image?
Form 1040
Form 1099
Form 8812
Form 4972
What is the TAXABLE income for this individual?
$14,020
$13,850
$170
$20,800
How much federal income tax was withheld according to the info transferred from the W-2?
$16
$572.66
$13,850
$588.66
How much did this person overpay in taxes and therefore will receive a refund in this amount?
$16
$572.66
$588.66
Not enough info
W-2
W-4
1040
1099
Which 2 forms must you complete as a "new hire"?
W-2
I-9
1040
W-4
This form states the amount of money earned and taxes paid throughout the previous year. People use it to complete income tax forms for the IRS.
W-2
W-4
I-9
1040
The payroll tax that pays for Social Security and Medicare.
FICA
IRS
NBA
SEC
Which of the following is an example of a federal tax return (what you must send back)?
Form 1040
W-2
W-4
Form 10-K
An allowance/dependent is the number of people you claim to support.
False
True
his ______ is $320.
Wages, salaries, bonuses, commissions and some tips are all taxable.
Federal income taxes are _____ because the rate of taxation increases as income increases.
progressive
regressive
flat
misunderstood
Medicare
The top percentage at which the upper amount of income is taxed at the federal level is known as your _______.
effective tax rate
marginal tax bracket
You may either choose to take the standard deduction or an itemized deduction on your federal taxes. Which one do MOST people take because it is usually higher than the other one as well as easier to calculate?
Itemized deduction
Standard deduction
If you paid too much in taxes, you will be able to get a refund if you fill out the correct forms. What is the safest, fastest way to file your tax return?
US Postal Service Mail
E-File
Carrier Pigeon
Drop off in person
Claiming a lot of allowances means that you will get more taken out of your paycheck in taxes.
true
false
Which of the following taxes is NOT on your paystub?
Sales tax
Federal Income tax
FICA
State Income tax
There is an "opt-out" box on your W-4 if you don't want to contribute to Social Security or Medicare.
TRUE
FALSE
How much did John R. Doe pay in FICA--Social Security in the current pay period on this paystub?
$450
$25.92
$51.84
$418
$0
Molly works for hospital administration and is paid the same amount each pay period, earning $60,000 over the course of 12 months. Her income is _______-based.
401K
Salary
Wage
IRA
What is the difference between gross pay and net pay?
There is no difference; it's just different words for the same thing.
Gross pay is after taxes & deductions; net pay is before taxes & deductions
Gross pay is before taxes & deductions; net pay is after taxes & deductions.
Gross pay is your annual income; net income is what your earn monthly
Whose W-2 form is this example?
Top Company
Department of the Treasury
Tom T. Taxpayer
Internal Revenue Service
In North Carolina, a worker will have which of the following taken from his/her paycheck?
Federal income taxes
State income taxes
FICA taxes
All of the above
What is financed by the FICA tax?
Schools
Highways
Social Security/Medicare
Student loans
What is another term for net pay?
Gross pay
Unilateral pay
Take-home pay
All of the above.
Which of the following is a pay period?
Weekly
Bi-weekly
Monthly
All of the above
You pay ______ taxes on your home, land, and vehicles.
property
income
federal
payroll
Property taxes are calculated on the basis of the ____ of the property.
age
weight
value
size
North Carolina's state income tax is _____ in nature because it taxes all incomes at the same percentage.
progressive
regressive
proportional/flat
augmented
Marco has the following deductions listed.
Federal Income tax: $44
Social Security tax: $23
Medicare tax: $5
Health Insurance: $24
What is the total amount of his deductions?
$39
$67
$91
$96
What created the federal income tax?
Federal Income Tax Assessment Act (FITAA)
16th Amendment
North Carolina General Assembly
21st Amendment
Match the following:
I-9
Form that proves eligibility to work
W-4
Form that allows employers to determine how much to withhold from your paycheck for payroll taxes.
W-2
Form that the employer must provide by January for the previous year, which details wages and taxes.
1040
Form taxpayers use to file their taxes.
Tax brackets are staggered to place most of the tax burden on ....
those who make less than $10,000.
those who receive unemployment.
those who earn higher levels of income.
people with a college education
Property taxes
Paid on land, houses, & vehicles
Capital Gains taxes
Paid on the profit from the sale of an investment
Excise/Sin Taxes
Paid on goods by businesses, which are then passed on to consumer
Sales Taxes
These vary from state to state and are applied on items purchased
Luxury Taxes
Placed on non-essential expensive items
Match the following:
Progressive Tax
Percentage of taxation increases as income increases
Regressive Tax
Tax rate is the same for all income levels, but the lower levels pay a higher % of their income
Proportional or Flat Tax
Tax rate is the same for all incomes, but wealthier still pay more than poor because they earn more.
Sales Tax
Example of a regressive tax
Federal Income Tax
Example of a progressive tax
If I don't understand how to file my taxes, the federal government will exempt me all tax obligations for a 5-year period.
TRUE
FALSE
What was the largest deduction for this pay period?
FICA Medicare Tax
FICA Social Security Tax
Federal Tax
NC State Tax
In terms of FEDERAL INCOME TAX, every dollar of an individual earning $65,000 is taxed at the same rate.
TRUE
FALSE
Created in 1935 under the FDR administration, ____ was designed as a safety net for retirees and the disabled.
Medicare
Medicaid
WIC
Social Security
How much did Ashley pay in state income tax to Pennsylvania?
$196.25
$90.48
$6240
$34.12
Why does Ashley need this form?
To e-file for an extension on her income taxes
To declare her filing status and number of dependents.
What happened to the standard deduction for those filing as "single" from 2024 to 2025?
Consider someone filing as "Head of Household"--how much of their income is taxed at 10%?
$64,850
$23,850
$11,925
$17,000
Your parents pay $3500 in taxes each year based off of the value of your home. Which type of tax is this?
Payroll tax
Property tax
Sales tax
Income tax
What is the main purpose of withholding taxes from your paycheck?
To fund retirement accounts
To increase your net pay
To prepay your federal and state tax obligations
To pay for employee benefits
What types of deductions are optional or voluntary?
Social Security and Medicare taxes.
Health insurance premiums and retirement plan contributions.
Federal and state income taxes.
FICA and unemployment taxes.
In the 'Filing Status' section of Form 1040, which status should be checked if a taxpayer is unmarried and provides more than half the cost of keeping up a home for a qualifying child?
Which form is in the picture?
1040
W-2
1099
W-4
Susan works for a wage of $20/hour. If she works 44 hours in a single week at her job, what will be her gross pay?
HINT: Remember over 40 hours yields overtime pay.
$880
