Homework-PracticeUnderstanding Form W-4 and W-2

Homework-PracticeUnderstanding Form W-4 and W-2

9th Grade

47 Qs

quiz-placeholder

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Homework-PracticeUnderstanding Form W-4 and W-2

Homework-PracticeUnderstanding Form W-4 and W-2

Assessment

Quiz

Business

9th Grade

Hard

Created by

MOIRA HOWEE

Used 1+ times

FREE Resource

47 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of Form W-4?

To summarize your yearly earnings

To determine how much federal tax should be withheld from your earnings

To calculate your state tax

To report your total income for the year

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does Form W-2 summarize?

Your monthly expenses

Your yearly earnings and the amount withheld for taxes

Your total savings

Your state tax obligations

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to understand W-4 and W-2 forms?

To ensure you are not paying more taxes than necessary

To increase your salary

To apply for a loan

To change your job

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of Form W-4?

To apply for a new job

To determine health benefits

To help your employer know how much money to deduct from your paycheck for taxes

To calculate retirement savings

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who completes the Form W-4?

Employer

Employee

Tax advisor

Government official

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When is Form W-4 typically filled out?

When you retire

When you start a new job

At the end of the year

When you receive a promotion

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What information is required for identification purposes?

First name, middle initial, and last name

Street address, city, state, and ZIP code

Social Security Number (SSN)

Filing status

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