Understanding Federal Tax
A worksheet for 11th-grade social studies students covering key concepts of federal taxation in the United States.
Includes
Standards
Topics
Understanding Federal Tax
Name:
Date:
Score:
Read each question carefully and provide your best answer based on your knowledge of federal taxation.
1. Which of the following is the largest source of revenue for the U.S. federal government?
Corporate income taxes
Individual income taxes
Excise taxes
Estate taxes
2. Federal income tax is a tax, meaning that higher earners pay a larger percentage of their income in taxes.
3. The Social Security and Medicare taxes are collectively known as taxes.
4. All federal taxes are progressive.
True
False
5. Briefly explain the difference between a progressive tax and a regressive tax, providing an example of each in the context of federal taxation.
Match each type of tax with its description.
6. Income Tax
a. Tax on imported goods
7. Payroll Tax
b. Tax on wages and salaries
8. Excise Tax
c. Tax on specific goods or services, like gasoline
9. Estate Tax
d. Tax on the transfer of property after someone's death