Tax Forms
Tax form to tell employer how much to withhold in federal tax.
What is W-4?
Gross pay - deductions
What is net income?
Taxes are...
What is a sum of money demanded by a government to support the government itself as well as specific facilities or services?
Schedule by which employers pay their employees.
What is Pay Period?
If you work more than 40 hours in a single workweek, federal law generally requires your employer to pay you at least this rate per hour.
What is time and a half?
Federal Income Tax is reported each year on this document.
What is 1040?
Xavier is working for a bank. He earns $8.00 an hour, works 40 hours a week, and gets paid every 2 weeks. Every pay period he pays $63.08 into federal withholdings, $33.21 into state withholdings, and $42.05 into FICA. What is Xavier’s gross pay on his paycheck?
What is $640.00?
The nation’s health care program for the elderly and disabled.
What is Medicare?
The first step to take when getting ready to do your income taxes.
What is gathering all your documents like W-2 statements?
A person who relies on a taxpayer for support.
What is a dependent?
An employer verifies eligibility to work using this form.
What is I9?
Xavier is working for a bank. He earns $8.00 an hour, works 40 hours a week, and gets paid every 2 weeks. Every pay period he pays $63.08 into federal withholdings, $33.21 into state withholdings, and $42.05 into FICA. What is Xavier’s net pay on his paycheck?
What is $501.66?
Tax paid on items that you own.
What is property tax?
The most secure method for an employer to pay employees.
What is direct deposit?
Pay periods vary by company. If you get paid every two weeks on the exact same day of the week, you are paid under this schedule (resulting in 26 paychecks a year).
What is Bi-Weekly?
This form is given to an employee to report their earnings and deductions for the year.
What is a W-2?
Social Security Tax on $782.00 paycheck.
What is 48.48?
What type of tax includes the cost of taxes in the price of products, often used on items like gasoline or alcohol.
What is excise tax?
This federal agency, an arm of the U.S. Department of the Treasury, is responsible for collecting taxes and enforcing tax laws.
What is the Internal Revenue Service (IRS)?
This flat amount lowers your taxable income automatically without needing to show proof of individual expenses like medical bills or charitable gifts.
What is the standard deduction?
Employers must provide employees with a W-2 by this date.
What is January 31st?
Medicare Tax on $782.00 paycheck.
What is $11.34?
Progressive taxation.
What is the USA tax system, the more you make the more you pay?
This event made the federal income tax a permanent fixture.
What is the Passage of the 16th Amendment to the Constitution in 1913?
FICA tax is paid by...
What is both employee and employer?