Cfl Test Study Guide Questions And
Answers With Verified Solutions 100%
Correct!!!
Employees decide when to pay their payroll taxes. - ANSWER✔✔False
Federal income taxes are used to pay the interest on the national debt. -
ANSWER✔✔true
The Medicare tax rate is 1.45% of gross pay. - ANSWER✔✔true
Employees use Form W-4 to prove that they are eligible to work in the United
States. - ANSWER✔✔false
Food servers do not need to report tips as taxable income. - ANSWER✔✔False
Hairdressers include in taxable income the tips they receive from customers. -
ANSWER✔✔True
Employers use Form W-4 to report wage and tax information to employees. -
ANSWER✔✔False
Tips can be received in the form of money or goods. - ANSWER✔✔True
Interest income is earned on money in savings accounts. - ANSWER✔✔True
, All interest income is taxable. - ANSWER✔✔False
Tax-exempt interest is not reported on the individual income tax return. -
ANSWER✔✔False
Form 1099-INT is used to report interest income. - ANSWER✔✔True
Each dependency exemption decreases income subject to tax. - ANSWER✔✔True
A person can be claimed as a dependent on more than one income tax return. -
ANSWER✔✔False
The age test applies to a qualifying child. - ANSWER✔✔True
The Member of Household or Relationship Test must be met for a Qualifying
Relative. - ANSWER✔✔True
The filing status determines the number of dependents. - ANSWER✔✔False
A taxpayer can be eligible for more than one filing status. - ANSWER✔✔True
Married taxpayers must use the married filing jointly filing status. -
ANSWER✔✔False
A widower can claim the qualifying widow(er) with dependent child filing status
for five years after the spouse's death. - ANSWER✔✔False
Answers With Verified Solutions 100%
Correct!!!
Employees decide when to pay their payroll taxes. - ANSWER✔✔False
Federal income taxes are used to pay the interest on the national debt. -
ANSWER✔✔true
The Medicare tax rate is 1.45% of gross pay. - ANSWER✔✔true
Employees use Form W-4 to prove that they are eligible to work in the United
States. - ANSWER✔✔false
Food servers do not need to report tips as taxable income. - ANSWER✔✔False
Hairdressers include in taxable income the tips they receive from customers. -
ANSWER✔✔True
Employers use Form W-4 to report wage and tax information to employees. -
ANSWER✔✔False
Tips can be received in the form of money or goods. - ANSWER✔✔True
Interest income is earned on money in savings accounts. - ANSWER✔✔True
, All interest income is taxable. - ANSWER✔✔False
Tax-exempt interest is not reported on the individual income tax return. -
ANSWER✔✔False
Form 1099-INT is used to report interest income. - ANSWER✔✔True
Each dependency exemption decreases income subject to tax. - ANSWER✔✔True
A person can be claimed as a dependent on more than one income tax return. -
ANSWER✔✔False
The age test applies to a qualifying child. - ANSWER✔✔True
The Member of Household or Relationship Test must be met for a Qualifying
Relative. - ANSWER✔✔True
The filing status determines the number of dependents. - ANSWER✔✔False
A taxpayer can be eligible for more than one filing status. - ANSWER✔✔True
Married taxpayers must use the married filing jointly filing status. -
ANSWER✔✔False
A widower can claim the qualifying widow(er) with dependent child filing status
for five years after the spouse's death. - ANSWER✔✔False
