A
You put your number of allowances on what form?
W-4
Besides salary, one should pay attention to what else when looking for a job?
Benefits
Who sends you your W-2 every year?
Employer
Failure to file taxes can result in a fine or what?
Jail Time
Why would a worker earn $100, but receive a paycheck for less than $100?
Taxes!
This is a United States Citizenship and Immigration Services form
I-9
What is the form called that is used to file MN State taxes?
M1
How many 'credits' do you need in order to be eligible for retirement benefits?
40
What is it called when the IRS checks people's tax returns to see if they are accurate?
Audit
Another name for taxable income is what?
Gross Income
What percent does Medicare tax at?
1.45%
An individual whom a taxpayer can claim for credits and/or exemptions
Dependent
The 1040 is the form you would fill out for what type of taxes?
Federal Taxes
Two types of payroll tax are Medicare and ___?
Social security
The deadline to file Income tax is April ___
15th
Tax filers can receive their refunds via check or what?
direct deposit
What shows the amount of taxes withheld from your paycheck over a years time?
W-2
Also known as take home pay
Net Pay
What % does Social Security tax at?
6.2%
What shows the amount of taxes withheld from your paycheck per pay period?
Pay Stub
The higher the number of allowance = ____ tax taken out of your pay each pay period
Less
Medicare and Social Security are both types of what kind of tax?
Payroll
The types of taxpayers: single, married filing jointly, married filing separately, and head of household
Filing Status
2 Types of Taxes, federal and ____
State
The total amount of money an employee would receive before taxes and deductions are taken out is called what?
Gross Pay