FoolProof Taxes Question Preview (ID: 16326)


Taxes Foolproof. TEACHERS: click here for quick copy question ID numbers.

Which is the correct statement about the ability to pay principle?
a) People who can afford to pay more taxes should pay more taxes to help those who can't pay a lot.
b) Federal income tax is based on the ability to pay principle.
c) Both A and B.
d) Neither A nor B.

Your employer is responsible for filing your federal tax return.
a) True
b) False.
c) sometimes
d) if i'm sick

Progressive taxation is based on the belief that:
a) People who make more money pay less tax because they know how to do it.
b) People should pay the same amount of tax every year.
c) People who can afford to pay more should pay more to allow the government to help less fortunate people.
d) People who make less money should pay the same amount of tax.

The sales tax you pay when you gas up your car is regressive.
a) True
b) False
c) Neither
d) Snow Cone

Taxes normally pay for the following:
a) Kindergarten pizza parties.
b) Private-practice lawyers.
c) Services such as police, fire and the military.
d) Tractor-Trailer drivers.

You pay sales tax when you:
a) Receive a pay check.
b) Buy a video game.
c) Own a property.
d) Hire someone to clean the windows.

Which tax form is given to me by my employer each tax year to show my earnings and taxes withheld?
a) W-4
b) Income Tax.
c) 1099.
d) W-2

A progressive tax is a tax that:
a) Requires you to pay less money in taxes when you have more income.
b) Requires everyone to pay the same tax rate.
c) Only applies to people who make more than $150,000 per year.
d) Requires people who make more money to pay a larger percentage of their income in taxes.

Select the example of a benefits received tax.
a) Income tax.
b) The tax that is collected at a toll booth on a highway.
c) None
d) All

You had a part time job that paid you $950 in one tax year. Do you have to file a federal tax return?
a) Yes
b) No. You must make 5,950 or greater in a tax year
c) Yes. But my parents are responsible for filing it for me.
d) No. But if I am claimed on my parents tax return then I am required to file one.

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