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FoolProof Taxes
Test Description: Taxes Foolproof
Instructions: Answer all questions to get your test result.
1) Which is the correct statement about the ability to pay principle?
A
Federal income tax is based on the ability to pay principle.
B
People who can afford to pay more taxes should pay more taxes to help those who can't pay a lot.
C
Both A and B.
D
Neither A nor B.
2) Your employer is responsible for filing your federal tax return.
A
if i'm sick
B
False.
C
sometimes
D
True
3) Progressive taxation is based on the belief that:
A
People who make more money pay less tax because they know how to do it.
B
People who can afford to pay more should pay more to allow the government to help less fortunate people.
C
People who make less money should pay the same amount of tax.
D
People should pay the same amount of tax every year.
4) The sales tax you pay when you gas up your car is regressive.
A
True
B
False
C
Snow Cone
D
Neither
5) Taxes normally pay for the following:
A
Tractor-Trailer drivers.
B
Services such as police, fire and the military.
C
Private-practice lawyers.
D
Kindergarten pizza parties.
6) You pay sales tax when you:
A
Buy a video game.
B
Receive a pay check.
C
Own a property.
D
Hire someone to clean the windows.
7) Which tax form is given to me by my employer each tax year to show my earnings and taxes withheld?
A
1099.
B
W-4
C
Income Tax.
D
W-2
8) A progressive tax is a tax that:
A
Requires you to pay less money in taxes when you have more income.
B
Requires everyone to pay the same tax rate.
C
Requires people who make more money to pay a larger percentage of their income in taxes.
D
Only applies to people who make more than $150,000 per year.
9) Select the example of a benefits received tax.
A
The tax that is collected at a toll booth on a highway.
B
All
C
None
D
Income tax.
10) You had a part time job that paid you $950 in one tax year. Do you have to file a federal tax return?
A
Yes
B
No. But if I am claimed on my parents tax return then I am required to file one.
C
No. You must make 5,950 or greater in a tax year
D
Yes. But my parents are responsible for filing it for me.
*select an answer for all questions
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