Tax Forms Facts
True or False?
The 1040 form determines whether you owe additional taxes or are entitled to receive a refund from the government
True!
True or False? (Pay Stub)
John paid $5.80 in federal taxes during this pay period.
False!
$5.80 was paid for Medicare Tax. For Federal Taxes, John paid $10.50.
True or False?
In January, your employer mails you the tax forms W-2, W-4, and I-9
False!
Your employer will only give you a W2 in January. Your I9 and W4 are filled out when you are hired.
True or False?
You need a separate W-2 form from EACH of your employers in order to file your taxes.
True!
What was the first unit we learned this year about?
Behavioural Economics
What is the name of the tax form you will need to fill out when you are hired for a job that tells your job how much money to withhold for taxes?
W4
(W2)
How much did Lily pay for Federal Income Tax during the 2025 tax year?
$4,768.50
When does your employer need to give you a W2 by?
Jan 31
What are the three methods you may use to file your taxes?
Paper filing
Tax Prep Website
Tax Professional
What is the most popular fruit in the world?
Banana
What is the name of the tax form that requires you to provide identification and proves you are eligible to work in the U.S.?
I9
(Pay Stub)
What are the total amount of taxes deducted from John's Pay Stub for this pay period?
$64.90
If you do not have an extension, when do you need to file your taxes by?
Apr 15
Will this person be required to file for taxes?
Max, whose total income from three separate part-time jobs was $9,500
Anyone below the standard deduction of $15,750 is not required to file for taxes.
What's Rachel Loomis' middle name?
Lynn
What is the name of the form you will receive for earnings and taxes you paid for the previous year through jobs/income of companies you are NOT empoyed by?
1099
(W2)
How much was Lily's Gross Pay for the 2025 tax year?
$38,966.00
If you have an extension, when do you need to file your taxes by?
Oct 15
In the 2025 tax year, what was the standard deduction for federal taxes?
$15,750
If a person earns below this amount, they do NOT need to file for taxes.
If a person earns above this amount, they DO need to file for taxes?
What year did New Jersey become a state?
1787
a. What is the name of the form you will fill out to file for taxes?
b. What is the name of the two tax forms you will need that contains the income and taxes you paid?
a. 1040
b. W2 and 1099
(Pay Stub)
What are the last 4 digits of John's Social Security Number?
2345
When is the first day you can submit tax returns?
Jan 26
What information do you need to be able to file your taxes? (Please list at least 3 pieces of information/forms you will need)
Name & Address
Social Security Number
W2
1099
Any other sources of income.
What is the farthest country from the united states?
Madagascar