Q1. What is the deadline for filing federal income tax returns in the United States?May 1April 15March 15June 30
Q3. Which form is used to report self-employment income in the United States?Form 1040-EZForm 1040 Schedule CForm 1040-AForm 1099-MISC
Q4. Which tax bracket applies to a married couple filing jointly with a taxable income of $80,000 in 2021?22%28%32%24%
Q5. What is the maximum amount of income that is subject to Social Security tax in 2021?$127,200$118,500$142,800$137,700
Q6. What is the penalty for failing to file a tax return?10% of unpaid tax per month5% of unpaid tax per month15% of unpaid tax per month20% of unpaid tax per month
Q7. Which tax form is used to claim the Child Tax Credit?Form 1040 Schedule 8812Form 1040-EZForm 1099-MISCForm 1040-A
Q8. What is the standard mileage rate for business-related driving in 2021?$0.60 per mile$0.62 per mile$0.575 per mile$0.56 per mile
Q9. Which tax form is used to report capital gains and losses?Form 1040-EZForm 1040-AForm 1099-MISCSchedule D of Form 1040
Q10. What is the maximum amount an individual can contribute to a Traditional IRA in 2021?$7,000$6,500$5,500$6,000
Q11. Which tax form is used to report rental income and expenses?Form 1040-EZForm 1099-MISCForm 1040-ASchedule E of Form 1040
Q12. What is the penalty for failing to pay the full amount of tax owed by the due date?4% of unpaid tax per month0.5% of unpaid tax per month2% of unpaid tax per month3% of unpaid tax per month
Q13. Which tax form is used to claim the Earned Income Credit?Form 1040 Schedule EICForm 1099-MISCForm 1040-AForm 1040-EZ
Q14. Are employer-provided health benefits taxed as income in the United States?Only for high-income individualsIt depends on the value of the benefitsYesNo
Q15. What is the maximum amount an individual can contribute to a Health Savings Account (HSA) in 2021?$2,750$4,000$3,500$3,000
