Unit 12: Income Tax

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​Unit 12: Income Tax

{Day 1}​

Some text here about the topic of discussion

Open Ended

Most memorable thing you did over break

Multiple Choice

Income

• dependent

• income taxes

• revenue

• standard deduction

Multiple Choice

A person who relies on another person for housing, food, et cetera

• dependent

• income taxes

• revenue

• standard deduction

Multiple Choice

taxes withheld from a person's paycheck based on their income

• dependent

• income taxes

• revenue

• standard deduction

Multiple Choice

the amount of money the IRS allows a person to make per year tax-free

• dependent

• income taxes

• revenue

• standard deduction

Multiple Choice

a form completed by newly hired employee informing an employer of the taxes to withhold from the employee's paycheck

• Internal Revenue Service (IRS)

• W-4

• tax liability

Multiple Choice

the total amount of income taxes a person owes based on their income

• Internal Revenue Service (IRS)

• W-4

• tax liability

Multiple Choice

government agency overseeing the collection of income taxes

• Internal Revenue Service (IRS)

• W-4

• tax liability

Multiple Choice

an annual form that reports a person's annual income and deductions

• W-2

• income tax return

• tax refund

Multiple Choice

the amount of taxes a person overpaid returned to the person as a result of filing a US Form 1040

• W-2

• income tax return

• tax refund

Multiple Choice

an annual form (US Form 1040) completed by a taxpayer that reports annual income and deductions, and determines whether taxes were overpaid or underpaid for the year

• W-2

• income tax return

• tax refund