WorksheetsTPF- 12/8 Do Now
Total questions: 6
Worksheet time: 3mins
Name
Class
Date
1.
Your ____ income is what you make before taxes/deductions. Your ____ income is what you make after taxes/deductions.
a)
gross, net
b)
net, gross
2.
The more money you make, the more your tax rate increases. This is known as a _______ tax.
a)
Flat
b)
Progressive
c)
Regressive
3.
The ________ is an amount excused from taxes by the government. It lowers your taxable income.
a)
Internal Deduction
b)
Revenue Deduction
c)
Standard Deduction
4.
You receive this tax form from your employer, and it summarizes your earnings and deductions from the previous year.
a)
I-9
b)
W-4
c)
W-2
5.
Your 1040 Form is due by
a)
January 31
b)
April 1
c)
April 15
6.
If you withheld too much in taxes from your paychecks over the course of the year, you will
a)
Owe a larger tax bill to the IRS
b)
Receive a tax refund from the IRS
100 %
