Form Frenzy
This form is received from an employer by January 31st and reports your annual earnings and taxes withheld.
What is a W-2?
This term refers to the total amount of money you earn before any taxes or deductions are taken out.
What is Gross Pay?
This is the standard annual deadline for filing your federal tax return in the United States
What is April 15th
These are the three main ways to file your taxes
What are professional software, professional tax preparers, and paper filing
This 9-digit number is required for all taxpayers and dependents to identify them on tax forms.
What is your Social Security Number (SSN)
You complete this form when starting a new job to indicate your tax withholding preferences to your employer.
What is a W-4?
Often called "take-home pay," this is the amount remaining after all deductions and withholdings have been subtracted.
What is Net Pay
A person who relies on another taxpayer for more than half of their financial support and meets specific IRS criteria
What is a Dependent
This type of income is earned from things other than work, such as interest from a savings account or dividends
What is Unearned Income
This is the age limit for a "Qualifying Child" to be claimed as a dependent, provided they are a full-time student
What is 24? (19 if not a student)
This form is used to verify an employee’s eligibility to work in the United States.
What is an I-9
This specific tax, consisting of Social Security and Medicare, is often listed as a single line item on a pay stub
What is FICA
This is a fixed dollar amount that reduces the income you're taxed on, which for 2025 is $15,750 for single filers
What is the Standard Deduction
This tax system means that as you earn more income, you pay a higher percentage in taxes on the higher portions of that income
What is a Progressive Tax system
True or False: If you are claimed as a dependent by your parents, you are prohibited from filing your own tax return.
What is False (You may still need to file to get a refund of withheld taxes)
If you are a freelancer or independent contractor and earned at least $600 from a client, you should receive this form.
What is a 1099
These are amounts taken out of your paycheck for things like health insurance or retirement savings before taxes are calculated
What are Pre-tax Deductions
You would receive this from the government if the total taxes you paid throughout the year were more than your actual tax liability.
What is a Tax Refund
Form W-2 Box 1 represents this specific type of information?
What is your Wages, Tips, and Other Compensation
These are the three largest categories of federal spending
What are Social Security, Medicare, and Defense
This is the standard form used by individual taxpayers to file their annual income tax return.
What is a Form 1040
This is the process where an employer holds a portion of an employee's wages to pay directly to the government for income taxes.
What is Withholding
If you can’t finish your tax return by the April deadline, you can file for this, which gives you until October 15th to submit your paperwork.
What is an Extension.
This specific box on a W-2 shows the total amount of federal income tax that was already taken out of your paychecks during the year.
What is W-2 Box 2
This specific payroll tax is used to provide health insurance for Americans over the age of 65
What is Medicare