Tax Forms
I am received in January. There is one of me for every job you work. You can tell how much you earned and how much you paid in taxes by reading me.
What is the W-2?
YTD
What is Year-To-Date?
The two main types of taxes under FICA that you pay on your payroll.
What are Medicare & Social Security?
If you do not support yourself financially you would be considered this on tax forms.
What is dependent?
Your name, address, and social security number.
What is personal information?
I am completed every April. Anyone can use me. Beware, there is a LOT to fill out
What is the 1040?
If you support yourself financially and cannot be claimed on someone's taxes, you are considered this.
What is independent?
This is a tax that you pay for the purchase of everyday items and goods.
What is a sales tax?
Tax Day
What is April 18?
Box 1 of the W-2.
What are wages?
This form is for non-employees who worked for a company, typically contractors not normally employee. Mr. Underwood received one for his Karaoke job.
What is the 1099?
This is the type of spending that the government votes on each year to spend taxpayer dollars.
What is discretionary spending?
What is Federal Insurance Contributions Act?
The three different ways you can file your taxes.
What is file by hand (paper), file online (digital), hire someone to file (professional)?
Tax incentive which allows certain taxpayers to subtract an amount of tax from what they have to pay. These are often called "discounts." You could receive one for having children, donating to charity, serving in the military, etc.
What are credits?
This tax form must be filled out when you start a new job in order to determine your identity and worker eligibility.
What is the I-9?
You would find this term on your paystub, which determines what you earn in salary pay based on hours.
What is rate?
Benefits are not a type of tax, but will appear on your W-2. List the 3 common benefits.
What is healthcare, retirement, dental?
The cutoff for what you need to make in order to be legally required to file.
What is $12,950?
Single, Married Jointly, Head of Household
What is filing status?
I am received whenever you start a job. You list information about yourself and your family on me. I determine how much money gets taken out of each paycheck
What is a W-4?
Your wages - deductions = THIS
What is net pay?
This tax is paid at the local level, not the national.
What is a state income tax?
The prime reason as to why you would want to file your taxes even if you are not required to.
What is get a refund?
Box 2 on the W-2 aka what you paid the government.
What is Federal Income Tax Witheld?