|Which of the following is not true concerning Income Tax Refunds?
||It is advantageous to receive a large sum of money in the form of a refund so that you can use the money to pay down debt.
|When claiming dependents, they must meet the following criteria EXCEPT:
||the dependent must reside with you for the entire year.
|If you opt to put money in a medical flexible spending account rather than trying to amass enough medical expenses to itemize on your tax return, you are taking advantage of ___.
|A form of taxation in which everyone pays an equal rate of taxes is called a ___.
|A form of taxation in which the highest income earner pays the largest percentage of taxes is called a ___.
|A form of taxation in which the lowest income earners pay the largest percentage of taxes is called a ___.
|Which of the following is not considered part of your gross income?
||the money your employer pays for your medical insurance
|Which of the following is not true about your adjusted gross income?
||it is your income plus your deductions.
|Which of the following is true about standard deductions?
||they are tax breaks that you can claim without having to itemize
|A dollar-for-dollar reduction in your tax payment is called a ___.