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Taxes - W!SE Terminology Review Flashcards | StudBud

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Your __ is used to calculate your allowances so employers know how much $ to withhold for taxes

In order to file your taxes, you need __.

Taxes - W!SE Terminology Review

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W!SE Financial Literacy Test Review

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Questions 6

Answers

1
In order to file your taxes, you need __.
A W2 from your employer
The government will tell you what you need when it's time
A W2 from the government
A W4 and a W2
2
Your __ is used to calculate your allowances so employers know how much $ to withhold for taxes
W2
1040
paycheck stub
W4
3
Your ___ is the amount of money earned before payroll deductions.
take home pay
net pay
earnings statement
gross pay
4
The 1040 Form is used __.
to file your taxes with the IRS
to tell the employer what taxes to take out
to tell the IRS what taxes to take out
to ask your employer for your tax information
5
Your ___ is the amount of money you will receive.
earnings
gross pay
salary
net pay
6
The U.S. tax system is considered __.
progressive
none are true
regressive
a flat rate system