1040/W4/W2Forms
You are responsible for filling out a __________ form in order to file your taxes.
What is 1040?
When do you fill out a W4?
When starting a new job or when you have major life changes (ie: get married, have kids, etc.)
The number of times you are required to file taxes each year.
What is once?
Government fee on business, income, products or activities.
What are taxes?
Total amount earned on your paycheck before any taxes or deductions are taken out. Is it gross or net play?
What is gross pay?
The form that helps you file your 1040 or 1040 EZ?
What is a W2?
The date by which your employer is responsible for sending you a copy of your W2? (month and day)
What is January 31st?
The total amount taken from your paycheck(s) for TAX PREPAYMENT is called?
This is what some people look forward to after filing their taxes. It would mean that their withholding was greater than their liability.
What is an income tax refund?
Does paying for health insurance reduce your taxable income?
The form do you need to fill out at the time of employment?
What is the W4?
The deadline for filing taxes or for an extension.
What is April 18th?
How much in total you OWE the IRS is called the__________.
What is the total tax liability?
Name three things for which federal tax money is used.
What is military, federal deficit, healthcare, schools, roads/transportation, national parks, veterans, environment, etc...
What is a 401K? Is it a deduction for retirement or a health insurance plan?
What is a paycheck deduction for retirement?
A tax form given by an employer that shows all income and taxes withheld. Hint: You get this form in January.
What is the W2?
The deadline for filing, after filing for an extension.
What is October 15th?
Someone under the age of 19 who you financially support
What is a dependent?
What does it mean to file your taxes? It means to send it to the ______.
What it means is for it be sent to the IRS?
What would happen to an individual who does not pay for his or her taxes?
What is...example garnish wages, but not limited to...
The form that employees fill out, indicating how much they want withheld from their paychecks.
What is a W4?
If you make a mistake on your taxes you will file this.
What is an amendment or an amended return?
Does adding money to your 401(k) reduce your taxable income?
What is yes?
Wages, salaries, tips, bonuses, unearned income, and investment income. They are called______income.
What are taxable income?
Claiming these on the W4 will increase your take-home pay from each paycheck, but may cause you to owe income taxes instead of receiving a refund. Hint you d not claim any right now even if you had a part-time job.
What are dependents?