Match the clues below to their correct answers by choosing from the drop-down menu. Continue to Part 2 or, to assess your answers, click the Check My Answers button at the bottom of the page.
Indicate whether each of the statements below is True or False by clicking on the correct answer. Continue to Part 3 or, to assess your answers, click the Check My Answers button at the bottom of the page.
- In the "pay-as-you-go" method of tax payment, a taxpayer pays the tax as income is earned or received during the year.
- Without tax withholding, many people would find it difficult to save enough money to pay their income taxes all at once.
- After completing Form W-4, an employee gives both the worksheet and certificate to the employer.
- Only people who own computers can keep financial records.
- People who are exempt from withholding do not need to have federal income tax taken out of their paychecks.
Answer the following multiple-choice questions by clicking on the correct answer. To assess your answers, click the Check My Answers button at the bottom of the page.
- For most people, federal income tax is collected
- On a Form W-4 taxpayers may claim
- Examples of financial records include
- The best system for keeping financial records is
- An employer withholds taxes from an employee's