Review Game Zone
Flash Cards
(current)
Games
Teachers
Search
Tax Refund
Test Description: Tax Refund
Instructions: Answer all questions to get your test result.
1) What percent of your gross income is withheld for Social Security Tax?
A
4.95%
B
6.2%
C
1.45%
D
7.65%
2) What percent of your gross income is withheld for Medicare Tax?
A
7.65%
B
6.2%
C
4.95%
D
1.45%
3) A single person with a gross income of $50,000 would have how much Federal Income Tax withheld with 0 allowances?
A
$7,122
B
$8,135
C
$7,359
D
$7,953
4) A married person with a gross income of $146,000 would have how much Federal Income Tax withheld with 0 allowances?
A
$24,300
B
$26,026
C
$25,250
D
$25,950
5) A head of household with a gross income of $26,000 would have how much Federal Income Tax withheld with 0 allowances?
A
$1,440
B
$890
C
$602
D
$624
6) How do you calculate tax refund?
A
(Tax Liability * 0.22) - Tax Payments
B
Tax Liability + Medical Expenses
C
Tax Liability / Dependents
D
Tax Liability - Tax Payments
7) On a W-4 form, the more allowances claimed, theā¦
A
Smaller your refund
B
Larger your refund
C
More money that is withheld from your paycheck
D
Less money that is withheld from your paycheck
8) A taxpayer had $2,654.01 withheld for Social Security and Medicare Tax with 0 allowances last year. $2,501.16 was withheld for Federal Income Tax. With exemptions, deductions, and credits, their tax liability is $4,758.62; calculate their tax refund.
A
$324.12
B
$396.55
C
$308.56
D
$355.24
9) Can you get a refund if your income is too low to pay taxes?
A
Yes, due to certain tax credits available
B
Yes, you get all of your state taxes returned to you
C
No, there is no refund for 0 tax liability
D
No, your refund is retuned to the government
10) What is a tax refund?
A
Money returned that has been stolen
B
Money returned if you bought a house, car, or boat in the last year
C
Money returned for medical expenses throughout the year
D
Money returned when your tax payments exceeds your tax liability
*select an answer for all questions
Check Results & Get Answers
Play Games with the Questions Above
Teachers: Create FREE classroom games with your questions
Click for more info!
©2007-2024
ReviewGameZone.com
|
About
|
Privacy
|
Contact
|
Terms
|
Site Map
WAIT! Find what you needed?
×
Still Looking for the Answers?
Have Another Question?
Play a Review Game with These Questions?
Want to Make Your Own Test Like This One?