Federal Tax Basics
A worksheet covering the fundamentals of federal taxation in the United States for 9th-grade social studies students.
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Federal Tax Basics
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Read each question carefully and answer to the best of your ability. This worksheet covers the basics of federal taxation in the United States.
1. What is the primary purpose of federal income taxes?
To fund state and local government services
To provide income for private corporations
To finance federal government programs and services
To reduce the national debt to zero immediately
2. Which of the following is an example of a regressive tax?
Federal income tax
Sales tax
Property tax
Estate tax
3. The Internal Revenue Service (IRS) is responsible for collecting federal .
4. A tax system where the tax rate increases as the taxable amount increases is known as a tax system.
5. All goods and services purchased in the United States are subject to federal sales tax.
True
False
6. Social Security and Medicare taxes are examples of payroll taxes.
True
False
7. Briefly explain the difference between a progressive tax and a regressive tax, and provide an example of each.
Use the words below to complete the sentences.
8. A federal occurs when government spending exceeds revenue.
9. A tax on specific goods like gasoline or tobacco is often called an .