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Pay Periods
types of Pay
Forms and Document

tax terms
Miscellaneous
100
If you get paid weekly you will receive __________ checks in most of the months during the year.
What is 4 checks
100
This is a type of pay that gives you a set amount of money for a certain period of time worked
What is hourly wage
100
This is the form you must fill out when you get hired at a new job, it allows you to claim the number of allowances you are claiming for tax purposes
What isthe W-4 or the Employee allowance certificate
100
This is what we used to look up how much tax was owed for the year
What is a tax table
100
The date that you must file your taxes by, unless that date falls on a Sunday is __________
What is April 15
200
If you get paid bi-weekly you will receive _________ paychecks per year
What is 26 paychecks
200
This is a fixed amount of pay that never changes regardless of how much time is worked
What is a salary
200
This is what your employer sends to you at the end of the year and lists your wages and taxes paid for the year.
What is the W-2 or Wage and Tax Statement
200
If your employer deducted to much federal income tax from your paychecks you will get a _________
What is tax refund
200
The date your employer must send you your W-2 so you can prepare your tax return is
What is January 31
300
If you get paid semi-monthly you will receive _________ paychecks per year
What is 24 paychecks
300
This is getting paid a percentage of what you sell
What is commission
300
This is the tax return we filled out in class and can be used by people who earned less than $100,000 and less than $1,500 of interest in a year.
What is the 1040EZ
300
The combination of social security tax and medicare tax is known as
What is FICA tax
300
Salary, Tips, and Interest received from the bank are all examples of ___________
What is Income
400
The main advantage of getting paid bi-weekly rather than semi-monthly is ___________
What is you will receive 3 paychecks in 2 of the months during the year.
400
the primary method of pay for waiters and waitresses is
What is Tips
400
This is a tax return that people would use if they cannot use the 1040EZ
What is the 1040
400
If the IRS checks your tax return for accuracy it is conducting an
What is audit
400
The main advantage of claiming 1 allowance rather than 0 on your W-4 form is
What is your paychecks will be larger (net Pay)
500
The main advantage of getting paid semi-monthly rather than bi-weekly is ________
What is each paycheck will be larger
500
This is a type of pay that is based on how many units you produce
What is piece rate
500
This is the form that your bank will send to you, and it states how much interest you earned for the year.
What is form 1099
500
The number of ____________________ you claim will dictate how much federal income tax is withheld from your paycheck
What is allowances
500
The main advantage of claiming 0 allowances rather than 1 on your W-4 is
What is you will get a larger tax refund at the end of the year.