Taxes

Question 1

What kinds of paperwork will the IRS look at to determine your taxes?

Accepted Answer

Receipts, W2s, pay stubs, 1099s

Question 2

How could the Larkins have made money off of the soil bank?

Accepted Answer

By letting the Government pay them not to farm a crop

Question 3

For each qualifying dependent, you can subtract in 2015 the following amount from your income

Accepted Answer

4000

Question 4

A tax deduction

Accepted Answer

lowers the income that you have to report to the IRS

Question 5

In the movie The Mating Game, once the oldest daughter turned 19

Accepted Answer

Her parents could no longer claim her as a tax deduction

Question 6

You must report all income to the IRS whether earned legally or illegally

Accepted Answer

True

Question 7

A qualifying child that you can deduct money from your taxes for IRS Purposes is

Accepted Answer

All of these

Question 8

Where do my Federal Tax dollars go?

Accepted Answer

Health care 27%

Question 9

Where do my state tax dollars go?

Accepted Answer

39% Education

Question 10

If you barter for a living

Accepted Answer

You need to file a tax return

Question 11

If you do not pay your taxes, you can not collect social security and medicare

Accepted Answer

True

Question 12

A tax credit

Accepted Answer

lowers the amount of tax that you need to pay

Question 13

How much do you predict the government owes the Larkins for "borrowing" their horses in 1863?

Accepted Answer

$14,118,515.48

Question 14

The father from the movie could deduct his business expenses from his sales and from his taxes

Accepted Answer

True

Question 15

The IRS can audit your taxes up to how far in the past

Accepted Answer

7 years

Questions 15