Tax Forms
The form that tells your employer how much to deduct from your paycheck is called...
What is a W-4?
The tax year runs from ____ to ____
What is January 1st to December 31st?
Gross pay means...
What is the total salary, commission, or payment you earn before any deductions?
The federal tax deduction that funds social security is called...
What is FICA?
The deadline for filing for an extension is...
What is April 15th?
The form your employer sends regarding your earnings and taxes, by late January, is called a...
What is a W-2?
Employers are required to send this form by January 31st...
What is a W-2?
Net pay is...
What is your take-home pay after deductions and taxes (70-77% of gross pay on average in Oregon)?
The deduction that funds elderly care and healthcare for the disabled is called...
What is Medicare tax?
Tax money that is sent back to you is called...
What is a tax refund?
The standard form for filing one's tax return is a...
What is a 1040?
April 15th is the deadline for ____, or alternatively ____
What is filing your taxes, or filing for an extension?
An amount subtracted from your gross income, limiting how much you can be taxed is a...
What is a tax deduction?
The summary document that often indicates gross pay, total deductions and taxes, and take-home pay is called...
What is a pay stub?
True or False: filing for an extension enables you to file and pay your taxes by October 15th instead of April 15th.
What is False?
The form for independent contractors to file their taxes is called a...
What is a 1099?
The final deadline to file, even after an extension, is...
The criteria for filing someone as a dependent includes...
What is being 19 or under, or a student of 24 or under; living with the taxpayer for more than half the year, the taxpayer accounting for more than half the individual's expenses, etc.?
The standard percentage deducted for social security is...
What is 6.2%?
Failure to pay one's taxes on time would result in...
What is a late payment penalty and daily compounding interest?
The form submitted by tax day if you have not completed your tax return would be (specifically)...
What is Form 4868 (extension form)?
Freelancers must pay their quarterly taxes in these four months...
What are April, June, September, and January?
The system of progressive taxation entails that...
What is 'the higher tax bracket you qualify for (by having greater taxable income), the higher percentage of taxes you pay'?
What are voluntary payroll deductions?
If someone files their taxes using a 1099 form, they are most likely a(n)...
What is a freelancer/independent contractor?