Tax Forms
The form filled out as soon as you get a job that tells your employer how much money to withhold.
What is Form W-4?
The deadline to pay and file taxes.
What is April 15?
The federal government agency responsible for collecting taxes and enforcing tax codes.
What is the IRS?
The money that your employer removes from your gross income to pay for your taxes, based on the W-4 Form.
What are withholdings?
Money received from investments, gifts, or government programs that does not come from working a regular job or self-employment.
What is Unearned Income?
The tax document that must be sent to you by your employer by January 31. The form shows how much money was withheld as well as your income.
What is Form W-2?
The deadline to file your taxes if you filed an extension. Not the deadline to pay.
What is October 15?
The total amount of money earned before anything is taken out of your paycheck.
What is gross income?
The tax that is taken out of your paycheck no matter how much you make, this funds social security and medicare.
What is FICA (Federal Insurance Contributions Act)?
Extra charges by the IRS if you pay your taxes late.
What are Penalties?
The tax form sent to independent contractors or freelancers reporting the payments earned other than a standard W-2.
What is Form 1099?
The date that employers are required to send the W-2 form to all employees by.
What is January 31?
The money you get to keep after all the benefits, taxes and deductions were taken out of your paycheck.
What is net pay?
What is Medicare?
True or False: Asking for an extension gives you more time to file and pay your taxes.
What is False?
The standard official IRS form that taxpayers use to file their annual federal income tax return.
What is Form 1040?
The last chance to claim a refund for a return that was never filed.
What is 3 year from the original due date?
Money that is sent back to you if you had more money withheld from your paychecks than you actually owed.
What is a Tax Refund?
The mandatory tax rate withheld from an employee's gross income to fund social security benefits.
What is 6.2%
A qualifying child or family member who relies on someone else for primary financial support.
What is a Dependent?
The form that requests an automatic 6-month extension to file your taxes, moving the filing date to October 15.
What is Form 4868?
The filing season opens, the IRS begins accepting and processing tax returns.
What is late January?
The tax system that make it so that higher levels of income are taxed at progressively higher percentage rates.
What is progressive taxation?
Optional programs that employees choose to join such as health, dental, insurance premiums or retirement savings plans.
What are Voluntary Deductions?
The minimum teen income level to be required to file taxes.
What is $14,600