Taxes Multiple Choice Test

Term used to desribe income before taxes.

Term used to record items that reduce taxable income.

The amount the employer deducts from an employee's paycheck and send it directly to the government.

A tax on earned income that supports Social Security, Medicare, and Medicaid (FICA).

A sum of money demanded by a government to support its services.

Tax on earned and unearned income.

Income for retirees, people with disabilities, children who have lost a parent, and a person whose spouse has died and has children.

Helps pay for healthcare for senior citizens.

A tax on property such as land, buildings, homes, and motor vehicles.

A tax on items purchased in retail stores.

Taxes charged on consumption items such as alcohol, gas, and cigarettes.

Income left after all deductions.

Helps pay for prescription drugs for senior citizens.

A form required by employers to determine the amount of withholding for federal income taxes.

Required by law to be sent to the employee, which lists the income, federal tax withheld, and payroll tax withheld.

What is the date by which federal incomes taxes must be filed?

Income earned from dividends, savings account, and rental property.

Term which means Internal Revenue Service.

Web Analytics Made Easy -
StatCounter