History
The first property tax in the US started in this year.
What is 1798?
When you complete your 1040 form, if you overpaid your taxes and the government owes you money, that is called a . . .
What is a refund?
Tax day / The last day to file your taxes.
What is April 15?
This is the term used for all of your collected income for a tax year including wages and any benefits that made you money.
What is adjusted gross income or AGI?
You are starting your first job and you are asked to complete some paperwork on your first day. Which form will determine how much money is withheld from your paycheck for taxes?
What is a W-4 form?
This amendment, ratified in 1913, established the first permanent US income tax.
What is the 16th?
The standard deduction for people filing as single is
Your employer is required to provide you with a W-2 by . . .
What is January 31?
These are benefits you may qualify for to reduce what you owe Uncle Sam such as making a low income, going to college, or just being elderly.
What are tax credits?
This is filled out by your employer to document your earnings for the calendar year.
What is a W-2 form?
The first electronic filing of a tax return occurred in this year.
What is 1986?
Income that you receive from actually working a job (not passively collecting it) is. . .
What is Earned Income?
A dependent that is not in college has to be under this age.
What is 18 years old?
These are expenses that can be deducted from your AGI to help you reach a smaller income amount including medical expenses, mortgage interest and charitable contributions.
What are itemized deductions?
The U.S. Individual Income Tax Return, is an IRS tax form used for personal federal income tax returns filed by United States residents.
What is a 1040?
The first income tax was started during this war to help fund it.
What is the Civil War?
This tax credit allows you to receive up to $2,500 of college education costs back on your refund. It may be claimed for up to four years.
What is the American Opportunity Tax Credit?
What age is a college student no longer able to be claimed as a dependent?
What is 24 years old?
A specific, preset dollar amount that reduces the amount of income on which you're taxed. This is subtracted from your AGI to determine your taxable income.
What is the Standard Deduction?
You’ll receive one of the three varieties of this form if you paid interest on a mortgage or student loan or paid college tuition.
What is a 1098 form?
There are currently this many US tax forms.
Over 1,100 different forms for various deductions, wages, income, and credits.
Unearned Income needs to be reported on your taxes when it is over this dollar amount.
What is $1,250?
The U.S. uses various tax brackets. The first $11,000 of taxable income is taxed what rate/percent?
What is 10%?
This method enables taxes to be taken out of your wages or other income as you earn it and before you receive your paycheck.
What is the withholding method?
The tax form that requires you to provide identification to prove you are eligible to work in the U.S.
What is an I-9?