Taxes Question Preview (ID: 30614)


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Required by law to be sent to the employee, which lists the income, federal tax withheld, and payroll tax withheld.
a) 1040A Form
b) 1040EZ Form
c) W-2 Form
d) W-4 Form

A form required by employers to determine the amount of withholding for federal income taxes.
a) W-4 Form
b) W-2 Form
c) 1040EZ Form
d) 1040A Form

Helps pay for prescription drugs for senior citizens.
a) Medicaid
b) Medicare
c) federal income tax
d) state income tax

Income left after all deductions.
a) net pay
b) withholding
c) deductions
d) gross pay

Taxes charged on consumption items such as alcohol, gas, and cigarettes.
a) excised tax
b) property tax
c) sales tax
d) payroll tax

A tax on items purchased in retail stores.
a) excised tax
b) sales tax
c) property tax
d) payroll tax

A tax on property such as land, buildings, homes, and motor vehicles.
a) payroll tax
b) excised tax
c) sales tax
d) property tax

Helps pay for healthcare for senior citizens.
a) Social Security
b) Medicaid
c) Medicare
d) net pay

Income for retirees, people with disabilities, children who have lost a parent, and a person whose spouse has died and has children.
a) Medicaid
b) Medicare
c) federal income tax
d) Social Security

Tax on earned and unearned income.
a) income tax
b) payroll tax
c) Medicare
d) Social Security

A sum of money demanded by a government to support its services.
a) withholding
b) deductions
c) taxes
d) net pay

A tax on earned income that supports Social Security, Medicare, and Medicaid (FICA).
a) federal income tax
b) payroll tax
c) net pay
d) deduction

The amount the employer deducts from an employee's paycheck and send it directly to the government.
a) payroll tax
b) net pay
c) deductions
d) withholding

Term used to record items that reduce taxable income.
a) deductions
b) federal income taxes
c) withholdings
d) payroll taxes

Term used to desribe income before taxes.
a) payroll tax
b) gross pay
c) deduction
d) Medicare

What is the date by which federal incomes taxes must be filed?
a) April 1
b) April 15
c) April 30
d) April 20

Income earned from dividends, savings account, and rental property.
a) unearned income
b) earned income
c) miscellaneous income
d) None of the above.

Term which means Internal Revenue Service.
a) MRS
b) TRS
c) IRS
d) None of the above.

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