Tax Test

The federal form that is given to you by your employer in January summarizing taxes taken out of your paycheck

• W-2
• W-4
• 1040
• I-9

A tax on earned income that supports the Social Security and Medicare programs (also known as FICA)

• Property Tax
• State Income Tax
• Payroll Tax
• Sales Tax

The federal form that you fill out for your employer when you first become employed listing the number of exemptions you are claiming which will help your employer figure how much tax should be deducted from your paycheck is called:

• W-2
• I-9
• W-4
• 1040

The deadline for filing your taxes is:

• May 31
• December 31
• April 15
• January 31

What agency must you file your taxes with?

• Federal Reserve
• Internal Revenue Service (IRS)
• Supreme Court
• Federal Deposit Insurance Corporation (FDIC)

Taxes taken out of your paycheck are referred to as:

• Withholdings
• Earned Income
• Unearned Income
• Free Money

Total pay earned BEFORE taxes or deductions are taken out:

• Earned Income
• Unearned Income
• Gross Pay
• Net Pay

Total "Take Home" pay earned AFTER taxes or deductions are taken out:

• Earned Income
• Unearned Income
• Gross Pay
• Net Pay

The "normal" amount of hours worked in a week are:

• 75
• 40
• 38
• 42

When an employee works MORE than the normal amount of hours in a pay period, then the employee is paid a bonus for the extra hours over the usual (normal) amount. These hours are called:

• Extra Time
• More Time
• Overtime
• My Time