Improve Tax Compliance Quiz

Are you sure you are doing everything right when it comes to tax compliance? Take this short quiz to test your knowledge and discover how to avoid extra payments!

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#1. What is tax compliance?

a) Following all tax rules and paying taxes on time.

b) Writing about taxes in a journal.

c) Avoiding taxes altogether.

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#2. Why is tax compliance important?

a) It lets you skip tax payments.

b) It impresses your friends.

c) It helps you avoid fines and penalties.

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#3. Which is an example of tax non-compliance?

a) Filing taxes late without a valid reason.

b) Keeping accurate financial records.

c) Asking for a tax refund.

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#4. What should you do if you can’t pay your taxes on time?

a) Ignore the problem.

b) File your taxes and contact the tax authority for help.

c) Pretend you paid.

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#5. What is the first step to staying compliant?

a) Guessing how much tax you owe.

b) Keeping organized records of income and expenses.

c) Only paying taxes when reminded.

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#6. Who can help you with tax compliance?

a) A tax advisor or accountant.

b) Your neighbor.

c) A car mechanic.

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#7. What happens if you under report your income?

a) You get a bonus from the tax authority.

b) Nothing happens.

c) You could face penalties or audits.

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#8. Why is it important to review your tax return before submitting it?

a) To check for errors that could lead to penalties.

b) To practice your reading skills.

c) To impress your family.

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#9. How often should you review your tax compliance processes?

a) Once every few years.

b) Regularly, to ensure they are up to date.

c) Only when you receive a notice from the tax authority.

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#10. What’s one way to avoid extra tax payments?

a) Guess your deductions.

b) Learn about tax credits and deductions you qualify for.

c) Ignore tax laws.

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#11. What is a common mistake people make with taxes?

a) Keeping receipts and records.

b) Asking for help when unsure.

c) Filing without checking their work.

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