Paychecks and Taxes Review

Front

The most secure way for employers to pay employees is:

Back

direct deposit

Front

Who is required by law to send Jake a W-2 form by January 31st after he changed jobs?

Back

Both his current and his former employer

Front

A pay period is a

Back

time frame employers pay employees

Front

The government uses tax money to: fund the IRS, support private business, create food networks, provide public services

Back

provide public services

Front

What form must an employee complete when starting a new job?

Back

W-4

Front

If you overpaid your taxes and the government owes you money, it is called a __________.

Back

refund

Front

If a taxpayer's W-4 does not withhold enough money, what happens after they file taxes?

Back

They will owe a payment to the IRS.

Front

When do you start paying taxes on your income?

Back

When income exceeds the standard deduction

Front

What form verifies an employee's eligibility?

Back

I-9

Front

What should be considered when shopping in other cities?

Back

Sales tax