Tax Forms Quiz

This form will be sent to Lily by the end of January. She will use this W-2 form to…

• Obtain employment

• Receive her paycheck

• File her income taxes 

• Begin her retirement savings

All of the following employee information is included on a W-2 form EXCEPT...

• Employer name and EIN (Employer Identification Number)

• Employee’s Social Security Number

• Employee’s date of birth

• Employee’s current address

Based on this W-2, which of the following statements is TRUE? 

• Lily is contributing to a 401(k) retirement through her employer

• Lily works in the state of Indiana, which does not have an income tax

• Lily’s taxable wages are much larger at the federal level than at the state or local level

• Lily earned more than $12,950 (which is the standard deduction amount)

Based on the W-2 form provided, what was the largest withholding?

• Medicare tax 

• Federal income tax

• State income tax

• Social security tax

As Lily files her taxes, she learns that her federal total tax due ends up being $206. According to her Federal income tax withheld, how much of a tax refund can she expect back?

• $206.00

• $874.50

• $1,080.50

• $13,369.50

Based on the W-2 provided, Social Security tax withheld for Lily was __________ of wages and Medicare tax withheld was __________ of wages.

• 1.3%, 5.5%

• 6.2%, 1.45%

• 10%, 10%

• 28%, 39.8%

What was the total amount deducted from Lily’s pay for Federal, State, and Local income tax?

• $1,314.59

• $1,547.24

• $1,781.33

• $2,886.75

What is Maxwell’s filing status?

• Single

• Married filing jointly

• Head of household

• Dependent

Which statement below is TRUE, based on this W-4 form?

• Maxwell and his spouse are planning to itemize their deductions this year

• Maxwell and his spouse both work or Maxwell himself has two jobs

• Maxwell and his spouse both work at Big City Office Furniture

• Maxwell and his wife are the owners of Big City Office Furniture

Assume that Maxwell and his spouse anticipate earning around $110,000 in combined income this year. Given how he’s completed this W-4 form, how many children under the age of 17 does Maxwell have?

• 1

• 2

• 3

• 4