Taxation and Compensation in Employment Quiz

Tax directly imposed on individuals or entities.

Document used by employees to inform employers of tax withholding preferences.

Tax withheld from employees' wages to fund Social Security benefits.

Form used by businesses to request taxpayer identification information from individuals.

Tax assessed on the value of real estate or personal property owned by an individual.

Legislation that mandates payroll taxes for Social Security and Medicare.

Non-taxable benefits provided by employers for healthcare coverage.

Document summarizing an employee's annual earnings and taxes withheld by an employer.

Tax that disproportionately affects lower-income individuals as it's a fixed percentage of purchase price.

Additional tax required of certain taxpayers that ensures they pay a minimum amount.

Credit subtracted directly from taxes owed, reducing the final tax liability.

Fine imposed on taxpayers who don't file their tax return or pay taxes on time.

Employer-paid health insurance premiums are usually not taxed as income for employees.

Married individuals can claim EITC if they file jointly or as head of household.

Document used by financial institutions to report income earned by individuals from investments.