Exemptions
Federal Income Tax
Acronyms/Symbols
Tax History
Money
100
What is an exemption?
Withholding allowances that allow for supporting yourself and others in your family
100
What does FIT stand for?
Federal Income Tax
100
What does this symbol stand for? 
United States Dollar or Currency
100
What are Tariff's taxes on?
Imported goods
100
Who designed the American monetary system?
Alexander Hamilton
200
How much is the exemption for a dependent on State Taxes?
$2000
200
What does the US spend most of the tax dollars on?
Health
200
What does SSN stand for?
Social Security Number
200
What famous Gangster was arrested for tax evasion?
Al Capone
200
Before 1971 what was the US currency backed by?
Gold
300
How much is the exemption for a married couple on State Taxes?
$4000
300
What does the US spend taxes on that is 10 times more than any other country?
Defense
300
What does this symbol represent?
Cent
300
Can a non-American citizen be used as a dependent? Y/N
Yes
300
Who is on the 5-dollar bill?
Abraham Lincoln
400
How do you find the with holding for a married couple for FIT?
Use the married couple tax FIT tax table
400
What does IRS stand for?
Interna, Revenue Service
400
What does ATM stand for?
Automated Teller Machine
400
Who wrote the song "The Taxman"
The Beatles
400
Who is on the $100 Dollar bill?
Benjamin Franklin
500
How much is the State taxable wage for a single person with 2 dependents that makes $50,000 per year?
$44,000
500
What are the two criteria that the IRS uses to determine how much money one should withhold from their paycheck?
Marital status and allowances (dependents)
500
What does FICA stand for?
Federal Insurance Contributions Act
500
What phrase came out of the Stamp Act in 1765?
"No Taxation without representation"
500
Who is on the $1000 Dollar bill?
Grover Cleveland