Personal Tax Forms
Name a personal tax form type.
Form 1099-misc, form w-2 and form 1099-int
What is Tax Preparation?
Tax preparation is the process where you simply prepare to pay your taxes.
Do majority of Americans believe the tax system is fair in the United States?
a tax form that an individual uses to write down all of their reports like income, expenses, claim tax, deductions, and credit. Documenting these is used to calculate your tax bill for the year.
What is a deduction in the tax system?
an amount you subtract from your income when you file so you don't pay tax on it
What percentage of adults feel they pay to much in taxes?
A.) 20%
B.) 50%
C.) 72%
D.) 85%
B.) 50%
What does the W-2 Personal Tax Form show?
This form shows the income earned from an employer and the amount of taxes withheld from each paycheck.
What is a tax bill?
a written request for the money a person or business owes in taxes for a specific period
What is the number one complaint from people within the United States on the Tax System?
The complexity of it.
Name one of the three ways to file your tax form.
1: choose and IRS free filing option. 2: choose a Guided tax software. 3: choose free filing fill able forms.
What is the formal name for a Tax Form?
U.S. Individual Tax Income Tax Return.
Do Americans tend to have a favorable or unfavorable view with the IRS?
Unfavorable
(51% Unfavorable)
What does the 1099-int form do?
This form is distributed to interest paying entities such as banks, investment firms, and financial institutions, along with those who receive interest income more than $10
Tax Form-A
Report itemized deductions.
True or False, Income tax is the Governments highest revenue maker?
True