The 1040
What is adjusted gross income
This is why we call tax day opposite day and can joke with our clients about it.
What is celebrating the expenses and mourning the income people make during the year.
This is the form that a person's income and deductions is reported on at the start of the next year when they work a traditional, non contract based job.
what is a W2
This is the section that reduces the amount of income a person is taxed on.
What is deductions
This is more important than getting someone the biggest refund.
Who is accuracy.
This is the form that a person fills out when they start a new job or can change as they please, that determines how much tax is withheld from their paycheck.
what is a W-4
This is what reduces actual tax dollars that a person owes, and can be refundable or nonrefundable.
what is a credit
This is the number you need to obtain from the IRS in order to be a paid tax preparer.
Why is a PTIN
This is what you are likely to get if you have more withheld from your check each paycheck, which happens if you claim less dependents on your W-4.
what is a refund
In this section you include birthdays, social security numbers, and fill in the checkbox for the right type of one of the individuals someone has provided over half of the care for during the year.
What is dependents
This organization's website is the most thorough and detailed place to look for tax resources and answers, and is not to be feared but embraced!
What is the iRS
This is the organization that actually makes tax laws and then sends them on to the organization everyone thinks makes tax laws to make them execute the laws (and who will never receive a Christmas card again from said organization)
what is congress
This is the number of schedules there are directly attached to the 1040 (hint, they are numbers, not letters)
What is three
This is how long a year actually feels like for a tax preparer.
What is 16.5 months
This is the tax form that a person's income is reported on at the start of the year if they are a contractor or self employed and paid by a separate company for goods or services.
what is a 1099