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Taxes 2
Test Description: Taxes
Instructions: Answer all questions to get your test result.
1) the amount you earn before taxes are withheld
A
net income
B
taxable income
C
Form 1040EZ
D
gross income
2) the law that requires workers to contribute to Social Security and Medicare
A
business or license tax
B
Federal Insurance Contributions Act (FICA)
C
Internal Revenue Service (IRS)
D
Social Security Number
3) a number used to determine the amount of income tax withheld from your pay
A
withholding allowance
B
tax deduction
C
IRS
D
net income
4) a unique code used by the government throughout your life to identify you as a taxpayer and keep track of your earnings and tax records
A
tax return
B
taxable income
C
Social Security Number
D
tax deduction
5) a summary of your earnings, how much you made in one tax year
A
W-2 form
B
Form 1040EZ
C
Form W-4
D
gift tax
6) paid on the property that is received by those legally entitled to inherit
A
excise tax
B
gift tax
C
sales tax
D
estate tax
7) paid to the government based on your income and your financial and family situation
A
income taxes
B
estate tax
C
excise tax
D
payroll taxes
8) Taxes on the production or sale of a particular good or service,examples gasoline and other fuels, and taxes on tobacco and alcoho
A
gift tax
B
sales tax
C
excise tax
D
estate tax
9) a person you support financially, such as a child
A
estate tax
B
tax credit
C
net income
D
dependent
10) A form that you fill out to provide the information your employer needs to determine the proper amount to withhold from your paycheck
A
Form 1099-INT
B
Form W-2
C
Form W-4
D
Form 1040EZ
*select an answer for all questions
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