8. When determining whether you NEED to file a federal tax return, each of these questions matters EXCEPT…

How much income did you earn this year?

What type of income did you earn this year?

Are you claimed as a dependent on anyone else's tax return?

10. Which of the statements about this W-4 is TRUE?

Mr. Khan’s paycheck will have less money withheld from his paycheck since he is claiming a dependent

Mr. Khan is filing as married filing jointly

Mr. Khan is requesting for an additional $50 to be withheld from his paycheck

Mr. Khan submitted this W-4 two days after he started working at Little Company Inc.

11. Elaine just accepted a new job and is working with the company’s HR department to fill out paperwork. Which of the following steps is she responsible for?

Determine how much tax to withhold from her paychecks based on W-4 information

Send withholding amounts to the federal government

13. Which of the following statements about this W-2 form is true?

James paid state income taxes of $1,189.90

Avia Consulting will use this W-2 to file their 1040 form

James earned about $117,000 over the year based on the total of her Wages, Social Security wages, and Medicare wages

James works in the same city that Avia Consulting is based in

18. Your friend Laila is talking to you about the benefits of tax filing websites. Which of the following is true?

You can avoid the costs of having to pay a professional, though you may have to pay for e-filing online

Filing your taxes using a website is always free of charge

You are guaranteed a higher refund than if you were to use a paper form or hire a professional

If you owe money to the IRS, you receive a discount if you e-file use a tax filing website

19. Jessica is 16 years old and earned $1,100 through her photography side gig. Her parents can claim her as a dependent on their tax return. All of the following statements are true EXCEPT…

Jessica should expect to receive a W-2 in January

Jessica is required to file an income tax return

Jessica is required to pay a 15.3% self-employment tax

Jessica can file her own tax return even though her parents are claiming her as a dependent

20. Which of the following describes what a "dependent" is for tax purposes?

A child or adult that you support financially

Someone who is temporarily disabled

An adult who financially supports you

Someone who is a full-time student under the age of 30

21. If a taxpayer fills out their W-4 in a way that does not withhold enough money to cover their tax obligation, what is the most likely outcome after they file their taxes?

They will owe a payment to the IRS

They will be charged with tax evasion

22. Which of the following statements about the W-2 form is TRUE?

You need a separate W-2 form from EACH of your employers in order to file your taxes

A W-2 lists all the money you earned in cash over the last year

The total wages you earned from ALL jobs you worked in the previous year appear on ONE W-2 form

The W-2 includes information about the interest you earned from your investments

23. Akshay worked at a cafe while he was a college senior in Boston, Massachusetts. After graduating in June, he moved back to his home in California and started a full-time job in September. Which of the following statements is true?

Akshay will need to file a federal tax return and a state tax return for both Massachusetts and California

Akshay will need to file only a federal tax return

Akshay will need to file a federal tax return and a state tax return for Massachusetts

Akshay will need to file a federal tax return this year and file state returns the following year

24. All of the following people would be required to file a tax return EXCEPT…

Max, whose total income from three separate part-time jobs was $9,500

Janet, who earned $28,200 but was paid entirely in cash

Isaiah, who owns his own business and generated an income of $7,000

Dani, who is a cafe barista and earned $14,000 in wages and $250 in tips

25. Marquis is starting a fast food job during his senior year of high school. He lives with his parents and they will claim him as a dependent on their taxes this year. He earns $2000. Based on how he completed his W-4, his employer withheld $200 in federal income taxes from his paychecks. What will happen if Marquis doesn't file taxes in April?

Nothing will happen, but Marquis will miss out on his potential refund

The IRS will refund his $200 directly to him

The IRS will refund his $200 to his parents

The IRS will fine Marquis $75 or more for not filing taxes

Taxes - Unit 9 Test

Authored by Michelle Long

Mathematics

9th - 12th Grade

CCSS covered

Used 19+ times

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25 questions

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MULTIPLE CHOICE QUESTION

30 sec • 1 pt

1. Mandatory government spending includes which of the following?

Infrastructure and science

Social Security and Medicare

Healthcare and military

Education and agriculture

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

2. What does the term "withholding" mean in reference to your paycheck?

The amount of your paycheck that you are NOT being taxed on

How much you are going to owe the government when you file your annual tax return

How much you earn and includes salary, bonus and commissions

How much is being taken out of your paycheck for things like taxes, employer sponsored health insurance, and retirement

3. When do you start paying income taxes?

When you turn 18

When you get a full-time job (part-time does not count)

When you make more than the minimum income requirement

When you are notified by the IRS that you are required to pay federal income taxes

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

4. Why is it important to be extremely careful when completing your 1040 form?

Making a mistake will disqualify you from receiving future refunds

The 1040 form determines whether you owe additional taxes or are entitled to receive a refund from the government

Completing the 1040 incorrectly will mean the wrong amount of taxes will be withheld from your paychecks going forward

Mistakes on your 1040 form make you ineligible for employment during the next year

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

5. If your only income is salary paid by your employer, which of these statements about filing your taxes is true?

You need to file your tax return by the end of the calendar year (typically December 31st)

If your employer takes out federal income taxes through payroll withholdings, you do not need to file a tax return

You must file your tax return by the deadline (typically April 15th of the following year) or request an extension by that date

You do not need to pay any income taxes until April 15th, so you should ask your company to wait until after that date to withhold any money

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

6. You are starting your first job and you are asked to complete some paperwork on your first day. Which form will determine how much money is withheld from your paycheck for taxes?

W-4

W-2

I-9

1040

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

7. Which of the following paycheck withholdings puts money into a retirement investment fund that you will manage?

Social Security

Medicare

401(k) contribution

Federal income taxes

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Taxes - Unit 9 Test

1. Mandatory government spending includes which of the following?

2. What does the term "withholding" mean in reference to your paycheck?

3. When do you start paying income taxes?

4. Why is it important to be extremely careful when completing your 1040 form?

5. If your only income is salary paid by your employer, which of these statements about filing your taxes is true?

6. You are starting your first job and you are asked to complete some paperwork on your first day. Which form will determine how much money is withheld from your paycheck for taxes?

7. Which of the following paycheck withholdings puts money into a retirement investment fund that you will manage?

8. When determining whether you NEED to file a federal tax return, each of these questions matters EXCEPT…

9. Juanita has a part-time job that pays $12/hour and works about 50 hours every month. Her withholdings are Social Security (6.2%), Medicare (1.45%) and federal income tax (10%). What is her approximate net pay?

10. Which of the statements about this W-4 is TRUE?

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