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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
Form 1040EZ
B
net income
C
taxable income
D
gross income
2) the law that requires workers to contribute to Social Security and Medicare
A
Internal Revenue Service (IRS)
B
Federal Insurance Contributions Act (FICA)
C
Social Security Number
D
business or license tax
3) a number used to determine the amount of income tax withheld from your pay
A
tax deduction
B
net income
C
IRS
D
withholding allowance
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
Social Security Number
B
tax deduction
C
tax return
D
taxable income
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
gift tax
B
sales tax
C
excise tax
D
estate tax
7) paid to the government based on your income and your financial and family situation
A
estate tax
B
income taxes
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
estate tax
B
sales tax
C
gift tax
D
excise tax
9) a person you support financially, such as a child
A
tax credit
B
net income
C
estate tax
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 W-2
B
Form W-4
C
Form 1099-INT
D
Form 1040EZ
*select an answer for all questions
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