What does the federal government do with your money? Take our taxes quiz.
It seems there’s no end of taxes – and of debate about what the federal government does with all the money it collects. Whether you’re wrestling with Form 1040 or baffled by the latest debate in Washington over the national debt, here's at least a little relief. Test your knowledge of America’s fiscal behavior with this quiz. It won't cost you a dollar or add a dime to the deficit – and what you don't know you'll learn from the included answers!
1. Which of the following events in IRS history is matched with the wrong presidential administration?
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Under Eisenhower: The filing deadline for individual tax returns is changed from March 15 to April 15. |
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Under Coolidge: The name of the agency is changed from the Bureau of Internal Revenue to the Internal Revenue Service. |
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Under Reagan: Limited electronic filing begins. |
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Under Franklin Roosevelt: Congress passes the Current Tax Payment Act, which requires employers to withhold taxes from employee wages and remit them quarterly. |
