24-25 Taxes and You

What is Income Tax?

• Tax on Earned Income
• Tax on Unearned Income
• Tax on Earned and Unearned Income
• Taxes on the Wages you earn from your Employer

What is Payroll Tax?

• Tax on Earned Income
• Tax on Unearned Income
• Tax on Earned and Unearned Income
• Taxes on the Wages you earn from your Employer

Can you have more than one W-2 sent to you? 

• Yes
• No

Which form/document do you not need when filing your taxes?

• W-2

• 1099 (Interest Statement)

• W-4

What document do you use to determine the amount of your actual TAX?

• Tax Table

• W-2

• Allowance Table

• 1040

A _____ is someone who relies on another person to provide for them.

• Child
• Widow
• Independent
• Dependent

Which tax form is used  to provide information about your previous year's pay and deductions from that year?

• W2
• W4
• 1040A
• 1099-INT

Who is responsible for providing the W2 form to the tax filer?

• You, the tax filer

• The Employer

• The bank (financial institution)

• The IRS

Which tax form is used to tell your employer your filing status, number of dependents and the amount you would like deducted from your paycheck for income taxes?

• W2
• W4
• 1040EZ
• 1099-INT

Which tax form provides information on how much you have earned in interest on your savings tools, such as a savings account?

• W2
• W4
• 1040
• 1099-INT