Income Taxes Certification Review Exam Questions With Multiple Choices.
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Course
TAX.
Institution
TAX.
government. Collected or withheld from one's paycheck.
Payroll Tax - correct answer Federal and state taxes that all employers must pay, based on a percentage of the employee's salary.
Mandatory Spending - correct answer ...
government. Collected or withheld from one's paycheck.
Payroll Tax - correct answer Federal and state taxes that all employers must pay,
based on a percentage of the employee's salary.
Mandatory Spending - correct answer Spending by the federal government required
by previously existing laws.
Tax Brackets - correct answer the breakdown of income to determine income tax
percentages which must be paid
Tax Rate - correct answer Percentage at which taxes are paid on a dollar of income
Progressive Tax System - correct answer The higher a taxpayer's income, the higher
the tax rate.
Taxable Income - correct answer The amount of income that is used to calculate an
individual's or company's income tax due.
Standard Deduction - correct answer A dollar amount that a taxpayer must exceed
in income to be required to file a tax return.
W-2 - correct answer Reports an employee's annual wages and the amount of taxes
withheld from their pay.
Dependent - correct answer Over 50% of financial support provided by someone
else. Can be claimed on the supporter's tax return.
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