Taxes Answers

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Forty-two percent of federal revenue comes from .

payroll taxes

corporate income taxes

individual income taxes

Income taxes paid by businesses and corporations make up about of federal revenue.

40%

42%

Taxes collected for Social Security and Medicare make up of federal revenue.

40%

42%

The W-4 form is completed by an individual when he or she first starts a new job.What does this form help to determine?

The amount of money that an individual should receive in income.

The amount of money that should be returned for paying too much in taxes.

The amount of money that should be withheld in federal taxes.

The amount of many that should be withheld in state taxes.

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