So Many Taxes!
If Heaven is claiming 2 of her kids and she lives with her Mom who filed head of household, can Heaven file head of Household as well?
“No”
I worked over the summer and got a 1099-MISC form from my employer.Now what?
Report the income on IRS Schedule C
Yes or No--Is it taxable? Wages, Salaries and Tips
What is "Yes?"
If you are to receive a refund, you can have the IRS either mail you a check, or ......
by "direct deposit?"
How many years does a tax professional keep records?
3
What does EITC mean?
“Earn Income Tax Credit”
All taxpayers must file their Income Tax by this date.
What is "April 15?"
Yes or No-- Federal income taxes are voluntary.
"No”
A person who lives with you and for whom you pay more than half of his or her living expenses.
a "dependent?"
What Tax form would you file with the IRS in April?
Form “1040”
Willful failure to pay taxes is called ______ ________.
"Tax Evasion?"
One important tax document you will need to complete the filing of your Income Tax is your _____, which your employer must complete and send to you by January 31st.
What is a "W-2?"
Yes or No?--The IRS will call you if you owe more tax.
“No”
True or False? Tax deductions reduce taxable income, while tax credits are subtracted directly from taxes owed.
What is "True?"
What can reduce your Tax Bill?
Contributing to a Roth IRA
An examination of your tax return by the IRS.
"Audit”
What is the term for all the taxable income you receive?
What is "Annual Gross Income?"
Yes or No?-- The IRS will email you if they have any questions
“No?" They will mail you out a letter
True or False? If the amount of taxes withheld from your paycheck is less than your total tax, you will be receiving a refund from the IRS.
What is "False?"
I worked over the summer, but didn’t get a W-2 yet from my employer.What should I do?
Call the “Employer”
The IRS is an agency of this department, and has its headquarters in Washington, D.C.
What is the "Department of the Treasury?"
With regards to "alimony" versus "child support," which one is taxable income?
What is "Alimony?"
Yes or No?--Is it ok to sign your client’s Documents?
What is “No”
If you have paid more Federal Income Tax than you should have, then you will be receiving a _________.
What is a "Refund?"