Labor Laws
This is the agency in charge of ensuring safe and healthy working conditions in the workplace.
What is OSHA?
This form is used to file a basic tax return.
What is the Form 1040?
This form records wages earned and tax withheld during the year.
What is a W-2?
Unlike deductions, these are subtracted directly from the tax you owe.
What are Tax Credits?
This Filing Status is designed for married couples who choose not to file their taxes jointly.
What is Married Filing Separately?
They are hired by the general contractor to perform specific tasks and they have workers beneath them.
What is a subcontractor?
This is income paid over time at a percentage for borrowed money.
What is interest?
This form gives the employer information on how much to withhold from paychecks.
What is a W-4?
If you opt not to take the standard deduction, you will take these type of deductions instead.
What are Itemized Deductions?
This Filing Status is designed for those who are unmarried but are the primary carer for a dependent.
What is Head of Household?
This is the minimum wage for tipped workers in Illinois.
What is $9.00/hour?
This is the type of income reported on your W-2 (combined hourly pay, salary, commissions etc.)
What is wages?
This form is used to calculate your itemized deductions.
What is Schedule A?
What is your Filing Status?
If a dependent is not your child, they must be this.
What is a Qualifying Relative?
This form confirms the worker's identity and that they may legally be working.
What is the Form I-9?
You either owe an amount or receive a refund on this type of tax because it is not a consistent percentage.
What is income tax?
This form reports self-employment income.
1099-NEC
This is your income amount after above-the-line deductions are subtracted but before the standard deduction is subtracted.
What is the Adjusted Gross Income (AGI)?
What is 24?
The Employee Classification Act ensures that an employee is not wrongfully classified as this.
What is an independent contractor?
What is Medicare and Social Security?
This form reports interest you paid on student loans.
1098-E
This Tax Credit is designed for those with lower income.
What is the Earned Income Tax Credit (EITC)?
These two Filing Statuses are the most advantageous for the taxpayer.
What are Married Filing Jointly and Qualifying Surviving Spouse?