Personal Finance Courses: Taxes

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1.
The various income tax filing statuses include _______.
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All of the above. There are several statuses that determine your rate.
2.
Tax adjustments, deductions and credits all have one thing in common. What is that?
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They reduce the amount of tax you have to pay. Adjustments, deductions and credits all reduce the amount of tax you have to pay. They all do this in different ways.
3.
Retired workers receive more in benefits from Social Security than they contributed to it during their working years.
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True. They receive more; this is a big advantage during one's retirement years.
4.
You can take a tax deduction for some education-related expenses. Which of the following does that include?
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All of the above. All of these expenses qualify.
5.
What is the standard U.S. individual tax return called?
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The 1040. IRS Form 1040 is the standard form.