Taxes

Question 1

Forty-two percent of federal revenue comes from .

Revolt · Accepted Answer

individual income taxes; Forty-two percent of federal revenue comes from .: individual income taxes; Income taxes paid by businesses and corporations make up about of federal revenue.: 9%; Taxes collected for Social Security and Medicare make up of federal revenue.: 40%

Question 2

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

Revolt · Accepted Answer

9%

Question 3

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

Revolt · Accepted Answer

40%

Question 4

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?

Revolt · Accepted Answer

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

Question 5

Use what you have learned about filing income taxes to complete these sentences.

Revolt · Accepted Answer

refund; Citizens file income taxes to ensure that they will receive a if they paid too much in taxes throughout the year.: refund; Employers supply a to help citizens file their tax returns.: W-2; Taxes returns can by filed either by mail or .: online

Question 6

This is a receipt for a purchase made at a restaurant in Sacramento, California.

Revolt · Accepted Answer

$10.00; The total cost of the food and drinks before taxes was .: $10.00; The buyer paid in sales tax.: $0.85; Based on the receipt, Sacramento has a sales tax rate of .: 8.5%

Question 7

Failure to pay taxes on time may result in .

Revolt · Accepted Answer

penalty fees

Question 8

Employers supply a to help citizens file their tax returns.

Revolt · Accepted Answer

W-2

Question 9

The buyer paid in sales tax.

Revolt · Accepted Answer

$0.85

Question 10

Tax payments may be collected through and interest will accumulate on the unpaid balance until the taxes are paid in full.

Revolt · Accepted Answer

wage garnishment

Taxes Answers

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