BHS Tech Prep Math Taxes Quiz 1

10 Responses | Created by mburgess |
  1. 1

    Payroll taxes include Social Security, Medicaid, federal income, and state income taxes.

  2. 2

    A Form W-4 is filled out when employees start a job.

  3. 3

    The individual exemption amount for 2010 is $3,650.

  4. 4

    Voluntary compliance means

  5. 5

    Taxes shift resources ($$$) from the private sector (individuals) to the public sector (goverment).

  6. 6

    Interest earned can be taxable or tax-exempt depending on what financial instrument the interest is earned on.

  7. 7

    Tips received are not taxable income.

  8. 8

    A Form W-2 is prepared by the employer each month to show an employee's earnings and taxes withheld.

  9. 9

    Dependents can be either a qualifying child or qualifying relative.

  10. 10

    A child can be a dependent until the age of 19 or 30 if a full-time student.

  11. 11

    The Form 1099-Int reports interest earned.

  12. 12

    Tax evasion is legal means of avoiding tax responsibilities.

  13. 13

    Which of the following is a filing status?

  14. 14

    You must send a check to the IRS each time you receive a paycheck.

  15. 15

    Taxpayers have the right to

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