The tax form most young people fill out. They have less than $50,000 worth of income, own no real estate and no stock investments.
What is 1040EZ
100
True/False - It is your decision whether or not you wish to contribute to Social Security. If you choose not to, you may not collect it when you turn 65.
What is false
100
Explain the meaning of a progressive tax system
What is those who make a higher income also pay a higher percentage in taxes
100
What type of tax funds the majority of public schools?
What is property tax
100
During which month will you receive your W2 from your employer?
What is January
200
A summary of earnings and withholdings for the year on a job
What is a W2
200
Social Security provides what for who?
What is retirement benefits, benefits for the dependents of retired workers, benefits for the disabled and their dependents.
200
What is the top marginal tax rate on high income earners?
What is 33%(within 3% is okay)
200
The government uses this type of tax as the majority of its federal income?
What is federal income tax
200
What is the document called that says the exact amount you should of paid in taxes
What is a tax table
300
A statement of interest your bank paid on your savings and investments
What is a 1099-int
300
Medicare provides what for who?
What is medical benefits for people aged 65 and over
300
Do Republicans want tax rates on the rich to be higher or lower?
What is lower
300
If you have children that live with you, they are considered _________________ and you can claim them as a deduction on your federal tax return
What is a dependent
300
Do we pay a higher percentage or a lower percentage in taxes than other developed countries?
What is lower
400
A form completed upon hiring which indicates the employee's deductions and Social Security number. Enables the employer to determine the amount of taxes to withhold.
What is a W4
400
When social security was first established in 1940, it took how many workers to provide benefits for one social security recipient
What is 159(within 10 is okay)
400
How do President Obama and Governor Romney differ on their ideas for the tax rates?
What is Obama would like to keep middle class and lower class taxes the same but raise taxes on upper income earners. Romney would like to cut taxes for everyone.
400
What benefit do you get if you are a homeowner?
What is you get a deduction for mortgage interest payments
400
How often do people pay self employment tax
What is once every 3 months
500
The tax forms that older people fill out
What is a 1040
500
In 2010, how many workers does it take to provide benefits for one social security recipient
What is 2
500
Why in the year 2001 and 2003 did the marginal tax rate on top income earners drop?