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.
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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
