Taxes

Question 1

What kind of tax is tax on interest you earn on savings?

Answer 1

Income

Question 2

Which kind of tax helps pay for people’s retirement?

Answer 2

Social security

Question 3

Which level of government is primarily responsible for providing public elementary education?

Answer 3

State local Federal

Question 4

Pays for the goods of traffic lights and sidewalks in different towns

Answer 4

Local

Question 5

Consumption tax

Answer 5

Sales tax

Question 6

Payroll taxes to the government

Answer 6

Employers

Question 7

Progressive tax

Answer 7

Income

Question 8

Makes gas cost more?

Answer 8

Excise

Question 9

Used to decrease demand for a particular item

Answer 9

Sales

Question 10

Pays for bridges highways and hospitals

Answer 10

StAte local federal

Question 11

Gets most revenue from property tax

Answer 11

Local

Question 12

Tax on something you buy

Answer 12

Sales

Question 13

Tax on something you own

Answer 13

Property

Question 14

Most revenue from income tax

Answer 14

Federal

Question 15

Excise tax?

Answer 15

Luxury tax

Question 16

Taxes on gas cigarettes and airplane tickets

Answer 16

Excise

Question 17

Tax different for different people based on their ability to pay

Answer 17

Income

Question 18

Tax on money people get for working

Answer 18

Income

Question 19

Level of government that can tax people’s income

Answer 19

State local federal

Question 20

Pays for the service of medical care for people who can’t afford it

Answer 20

Federal

Question 21

Employees withholding allowance certificate

Answer 21

Form W-4

Question 22

Taxes?

Answer 22

Sum of money demanded by the government to support the government itself as well as specific facilities or services

Question 23

Taxpayers

Answer 23

A person who pays a tax on national, state, country or municipal (city/form) government

Question 24

Community

Answer 24

A group of people with common interests and common for the common good

Question 25

Property tax

Answer 25

A tax on property such as land buildings, including homes, and motor vehicles

Question 26

Agency in charge of collecting federal tax

Answer 26

Internal Revenue Service

Question 27

Form most teens use to file their federal income tax

Answer 27

1040EZ

Question 28

Dependent

Answer 28

Someone who is supported by a taxpayers income

Question 29

Tax deduction

Answer 29

Reduces the amount of income that is taxed

Question 30

Itemised deduction

Answer 30

The amount actually spent on tax deductible expenses during the year

Question 31

What day is income tax day

Answer 31

The deadline by which people need to file a tax return

Question 32

Where does a w-2 come from

Answer 32

Employer

Question 33

Earned income

Answer 33

Money earned from working for pay

Question 34

Unearned income

Answer 34

Income received from sources other than employment

Question 35

File used to file annual income tax returns

Answer 35

1040 form

Question 36

Must fulfil certain requirements to get form

Answer 36

1040a form