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Payroll Taxes And Federal Income Tax Withholding
Test Description: Payroll Taxes and Federal Income Tax Withholding
Instructions: Answer all questions to get your test result.
1) Which tax provides for medical benefits?
A
FICA
B
Medicare Tax
C
Social Security Tax
D
FederaL Interest Tax
2) How much income tax do employers withhold from employee pay?
A
7.65% of gross pay
B
Employers use the information on Form W-4 to compute income tax withholding.
C
6.2% of gross pay
D
1.45% of gross pay
3) Net pay
A
is also known as take-home pay.
B
depends on how much the employee wants to pay in Social Security taxes
C
is gross pay minus 7.65%.
D
is more than gross pay.
4) Who completed Form W-4?
A
Bank
B
Accountant
C
Ahmed Khan
D
Employer
5) Is the taxpayer married or single?
A
single
B
married
C
divorced
D
widowed
6) How many allowances does the taxpayer claim?
A
0
B
1
C
3
D
2
7) What is the additional tax amount the employee want to be withheld?
A
$25
B
$50
C
$100
D
$75
8) What form is used to file personal taxes in the United States?
A
W-2
B
W-4
C
1099-INT
D
1040EZ
9) If you earned tips as earnings, which tax form will it be on?
A
W-4
B
1040EZ
C
W-2
D
1099-INT
10) Interest income is represented on which tax form?
A
1099-INT
B
W-4
C
1040EZ
D
W-2
*select an answer for all questions
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