Tax Cuts & Jobs Act Quiz

Tax Cuts & Jobs Act Quiz

The "Tax Cuts & Jobs Act" (TCJA), which took effect at the start of 2018, includes provisions that either directly or indirectly affect stock compensation. Test your knowledge of this important tax development.

Please answer the following 10 questions. This quiz is also a course of study. The answer key links to content on the topic for follow-up reading. For in-depth courses of study that offer CE credits, see the myStockOptions Learning Center.

1. Under the TCJA, what is the top income tax rate?

2. What was the previous top income tax rate?

3. What are all of the current income tax rates?

4. Under IRS guidance, what is the standard flat rate of income tax withholding for stock compensation under $1 million?

5. What was the prior standard flat rate of income tax withholding for stock compensation under $1 million?

6. How did the TCJA affect the standard withholding rate for stock compensation in excess of $1 million during the calendar year?

7. Did the TCJA change the capital gains tax?

8. Did the TCJA affect the additional Medicare taxes introduced by the Affordable Care Act (Obamacare)?

9. How did the TCJA affect the alternative minimum tax (AMT)?

10. The TCJA introduced a new type of option/RSU grant for private companies that lets employees defer the income and related taxes for how many years?

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