Forms
You are responsible for filling out a __________ form in order to file your taxes.
What is 1040?
When you fill out a W4.
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.
What is gross pay?
The form that helps employers know that you are eligible for employment in the USA.
What is the I9?
The date by which your employer is responsible for sending you a copy of yo.ur W2
What is January 31st?
Standard deduction for the 2019 tax year.
What is $12,200?
Social Security and Medicare Taxes
What is FICA?
Total amount earned after taxes and deductions.
What is net pay?
The tax form used to file taxes by people with no dependents.
What is the 1040EZ?
The deadline for filing taxes or for an extention.
What is April 15th?
Standard deduction for the tax year 2020.
What is $12,400?
Three things for which federal tax money is used.
What is military, federal deficit, healthcare, schools, roads/transportation, national parks, veterans, environment etc...
401K
What is a paycheck deduction for retirement?
A tax form given by an employer that shows all income and taxes withheld.
What is the W2?
The deadline for filing, after filing for an extention.
What is October 15th?
Someone under the age of 19 who you financially support
What is a dependent?
Federal Insurance Contributions Act
What does FICA stand for?
Calculate the net monthly pay for someone who works 80 hours a month for $13/hr, who pays 6.2% for social security tax, 1.45% for medicare tax and 10% for federal taxes.
What is $856.44?
The form that employees fill out, indicating how much they want withheld from their paychecks.
What is a W4?
Tax Unit test day.
Someone whose net earnings from self-employment (excluding church employee income) were $400 or more, or received church employee income of $108.28 or more.
What is "required to pay 15.3% self-employed tax"?
Wages, salaries, tips, bonuses, unearned income and investment income.
What are types of 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.
What are dependents?