Taxes Flashcard

Front

When the money you earn from working goes right into your checking account automatically this is called:

Back

direct deposit

Front

Which forms do you need in order to complete your 1040 Tax Return form? Check all that apply: I-9, W-2, W-4, 1099

Back

1099

Front

You are NOT a dependent.

Back

False

Front

Is Medicare available for individuals over 65 as medical insurance?

Back

True

Front

If you do not pay too many taxes over the course of the fiscal year you will get a tax refund

Back

True

Front

If you are being audited, the IRS is examining your financial situation.

Back

True

Front

You may face financial and legal penalties if you do not pay taxes

Back

True

Front

Which form is meant to verify EMPLOYMENT requirements via multiple forms of identity? Options: W2 Form, W4 Form, 1040EZ, I9 Form

Back

I9 Form

Front

Which form is meant to determine your allowances / withholdings / deductions and affects your FEDERAL and STATE income tax %? Hint: YOU fill it out

Back

W4 Form

Front

Which of the following forms is a summary of what you made & what you paid? Hint: You DON'T fill it out, but it IS needed in order to file your taxes: W2 Form, W4 Form, 1040EZ, I9 Form

Back

W2 Form