Taxes
When are Taxes due?
For those who file once each calendar year, a federal income tax return is usually due April 15 the following year, but the date can change if the 15th falls on a weekend or a holiday.
About two-thirds of the federal health program budget goes to Medicare, as Medicaid and the CHIP require matching payments from individual states. For the 2023 budget year, about ______ percent of the federal budget goes towards these health programs.
A. 7%
B. 11%
C. 15%
D. 25 %
D. 25 %
What does the IRS stand for?
a. Industry Revenue Stander
b. Internal Revenue States
c. Internal Revenue Service
c. Internal Revenue Service
The Form serves as ab annual report that enables you to file your personal income tax return with the IRS
a. W-2
b. W-4
c. I-9
d. 1040
A. W-2
True or False: Federal income taxes are voluntary.
False !
What war ended the Roman/Carthage conflict.
What is the III Punic War.
True or False: If you invest in clean vehicles or clean home energy, it's considered a tax deduction.
True !
Interest on the national debt will total about $______ billion according to the 2023 federal budget, or about 7 percent of total expenditures.
A. 460 billion
B. 640 billion
C. 390 billion
D. 540 billion
B. 640 billion
Which president created the Office of Commissioner of Internal Revenue?
a. George Washington
b. Abraham Lincoln
c. Theodore Roosevelt
b. Abraham Lincoln
Which form is an employee's withholding allowance certificate form to establish your withholding allowance for federal income tax?
a. W-2
b. W-4
c. I-9
d. 1040
b. W-4
Did You Know?
Which ancient civilization revered the tax professional as the most noble man in society?
What Kingdoms arose after the death of Alexander the greats death?
Ptolemaic, Seleucid, Antigonid and Attalid empires.
Name 2 tax-friendly states:
Most Tax-Friendly States:
Wyoming, Nevada, Tennessee, Florida, Alaska, Washington, South Dakota, North Dakota, Arizona, New Hampshire
For the 2023 budget, defense spending equaled about _______ billion, or approximately 9 percent of the federal budget.
A. $891 Billion
B. $225 Billion
C. 753 Billion
D. 833 Billion
A. $891 Billion
True or False: If the taxpayer has overpaid, the IRS issues a tax refund. If the taxpayer owes money, the payment is due with the annual tax return.
True !
What form is used as an Employment Eligibility Verification form?
a. W-2
b. W-4
c. I-9
d. 1040
c. I-9
Taxes and taxation are often received with mixed emotions. Historically, taxes have been met with rebellion and unrest; patriotism; war; and voluntary compliance. In what country where tax collectors were sent to the guillotine in 1789.
a. England
b. Spain
c. Germany
d. France
d. France
What Ayyubid dynasty general captured Jerusalem from the crusaders in 1198?
Who is Saladin
Name 3 not-so-friendly tax states:
Least Tax-Friendly States:
Illinois, Connecticut, New York, Wisconsin, New Jersey, Nebraska, Pennsylvania, Ohio, Iowa , Kansas
New York state has a progressive income tax system with rates ranging from ____% to ____% depending on a taxpayer’s income level and filing status.
A. 4.5% to 10.9%
B. 10% to 25%
C. 5% to 10%
D. 4% to 10.9%
D. 4% to 10.9%
The IRS operates on a budget approved by:
a. The Senate
b. The Congress
c. The House of Representatives
b. The Congress
Where can you go file your Taxes?
Free Online Software
IRS Free File
IRS Direct File
Certified Public Accountants
Yourself
The IRS received more than 146 million individual income tax returns in the filing season. Test your tax trivia knowledge by answering the following multiple-choice question. To assess your answer, click the Check My Answers button at the bottom of the page
How many of these returns were filed electronically?
What is Miss Ashley's dogs name.
Who is Vita
How much is the sales tax in New York ?
Bonus: Name two things that gets taxes
New York 8.875%
Bonus: +100
Name five correct (each answer is 100 points) budgets that tax money is used for?
Bridges, Road maintenance, research, education
Armed services, national, defense, veterans, and foreign affairs
Retirement income for elderly (SS)
Physical, human, and community development
Law enforcement
Interest on the national debt
What Taxes Does the Internal Revenue Service (IRS) Manage?
- Individual income tax and corporate income tax.
- The IRS also manages gift taxes, excise taxes, and estate taxes and has been tasked with distributing many “social safety net programs” for health care, education, energy, and more.
There used to be different versions of the 1040, which are no longer in use? (Select all that apply)
a. 1040
b. 1040 A
c. 1040 EZ
B&C
b. 1040 A
c. 1040 EZ
(Only 1 correct = 250)
To collect taxes, the federal government relied on voluntary compliance. To encourage people to learn about and pay their taxes, the government turned to popular culture and media.
Which of the following was NOT one of the ways in which the government used popular culture and the media to inform people about taxes?
What is Miss Shawns Zodiac sign?
Libra baby!