Fundamentals of Taxation 2017
Quiz 1: Introduction to Taxation,the Income Tax Formula,and Form 1040ez
Employers Report Wage Income to Employees on A
Employers report wage income to employees on a: A)Form 1099-E. B)Form W-2. C)Form W-3. D)Form 1099-G.
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Interest payers banks,savings and loans,insurance companies,etc.)report interest earnings to taxpayers on a: A)Form W-2-INT. B)Form 1099-INT. C)Form 4070. D)Form 1099-INC.
On Form 1040EZ,the permitted deduction from income for a single taxpayer is: A)$20,700. B)$0. C)$10,350. D)$1,500.
In terms of dollars,wage-earning taxpayers will normally pay the majority of their tax liability: A)In the following tax year. B)In advance in January. C)When they file their tax return. D)Through withholding from their wages.
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