T
April 15th
What is tax day?
Percentage you get with your savings account or what you get in return for lending money.
What is interest?
April 16th
What is the day after tax day?
When workers can begin receiving benefits from Medicare
What is age 65?
The money you take home from work
What is net pay?
All income from wages, salaries, and tips is taxable
What is true?
Tax on tobacco and alcohol
What is gross pay?
Another name for Federal Insurance Contribution Act
What is FICA?
Not all income needs to be reported
What is false?
Another name for Social Security tax
What is FICA?
Automatic $300
Automatic $300
6.2%
What is Social Security tax rate?
IRS can collect back taxes, assess penalty, and freeze your bank account
What is true?
1.45%
What is Medicare tax rate?
Employee's withholding allowing certificate or what you the employee completes to let your employer know how much money to withhold from your paycheck for federal taxes
What is W-4 form?
Failure to pay or deliberately underpayment of taxes
The amount of money the U.S. government owes
What is US national debt?
Employees use to complete their individual income tax return
What is W-2 form
The difference between revenue and spending
What is deficit?