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Taxes Test yourself 2023 final exam.

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Taxes Test yourself 2023 final exam.Which explains a difference between income and taxable income? - ANSWER Income is what a person earns, while taxable income reflects deductions subtracted for relevant expenses. In addition to federal income tax, many people also pay - ANSWER state income tax. A federal payroll tax that supports retired workers is - ANSWER social security tax. Which describes a type of tax that funds city programs? - ANSWER local income tax What types of information does a W-2 form contain? Check all that apply. - ANSWER how much has been earned how much has been withheld for taxes The diagram shows revenue from federal income taxes. What does the diagram show about tax revenue? - ANSWER The most revenue comes from individual and payroll taxes

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