Section 2

Question 0

Taxable income

Answer 0

Is the portion of income subject to taxation.

Question 1

Withholding

Answer 1

Is money taken from pay before the worker receives it.

Question 2

Tax return

Answer 2

Is a form used to report income and taxes owed to government.

Question 3

FICA

Answer 3

Is the federal insurance contributions act.

Question 4

Social security

Answer 4

Is a federal program to aid older citizens, children who have lost a parent, and the disabled.

Question 5

Medicare

Answer 5

Is a national health insurance program mainly for citizens over 65.

Question 6

Estate tax

Answer 6

Is a tax on property transferred to others on the death of the owner.

Question 7

Gift tax

Answer 7

Is a tax on assets given by one living person to another.

Question 8

Excise tax

Answer 8

Is a tax on the production or sale of a specific good or service.

Question 9

Customs duty

Answer 9

Is a tax on goods imported into the United States.

Question 10

User fee

Answer 10

Is money charged for the use of a good or service.