Question 1

The Wage and Tax Statement is known as

Accepted Answer

Form W-2

Answer

none of the above

Answer

Form 1040EZ

Answer

Form W-4

Question 2

The Social Security tax rate is

Accepted Answer

6.2 %

Answer

1.45 %

Answer

7.65 %

Question 3

Employers use which form to compute the amount of federal income tax to withhold?

Accepted Answer

Form W-4

Answer

Form 1040EZ

Answer

Form W-2

Question 4

Who completes Form W-4?

Accepted Answer

employee

Answer

employer

Answer

IRS

Question 5

Which of the following is not reported on Form W-2?

Accepted Answer

The number of withholding allowances claimed by the employee on Form W-4

Answer

Medicare tax withheld

Answer

wages, tips, and other compensation

Answer

Federal income tax withheld

Question 6

Employees send their payroll taxes directly to the federal government.

Accepted Answer

false

Answer

true

Question 7

The medicare tax rate is

Accepted Answer

1.45%

Answer

6.2%

Answer

7.65%

Question 8

Interest income may be taxable or tax-exempt

Accepted Answer

true

Answer

false

Question 9

All taxable interest income is reported on a

Accepted Answer

1099-INT

Answer

W-2

Answer

W-4

Answer

1040EZ

Question 10

determines the rate at which income is taxed

Accepted Answer

filing status

Answer

qualifying status

Answer

dependency status

Question 11

Taxpayers cannot claim an exemption for a person who can be claimed as a dependent on another tax return.

Accepted Answer

true

Answer

false

Question 12

You social security number is NOT on a W-4.

Accepted Answer

false

Answer

true

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