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This form will be sent to Lily by the end of January. She will use this W-2 form to…

• Obtain employment

• Receive her paycheck

• File her income taxes 

• Begin her retirement savings

All of the following employee information is included on a W-2 form EXCEPT...

• Employer name and EIN (Employer Identification Number)

• Employee’s Social Security Number

• Employee’s date of birth

• Employee’s current address

Based on this W-2, which of the following statements is TRUE? 

• Lily is contributing to a 401(k) retirement through her employer

• Lily works in the state of Indiana, which does not have an income tax

• Lily’s taxable wages are much larger at the federal level than at the state or local level

• Lily earned more than $12,950 (which is the standard deduction amount)

What were Lily’s gross wages for this period?

• $1,722.44

• $2,480.17

• $14,450

• $16,172.44

Based on the W-2 form provided, what was the largest withholding?

• Medicare tax 

• Federal income tax

• State income tax

• Social security tax

Tags

CCSS.6.SP.A.3

CCSS.6.SP.B.5

As Lily files her taxes, she learns that her federal total tax due ends up being $206. According to her Federal income tax withheld, how much of a tax refund can she expect back?

• $206.00

• $874.50

• $1,080.50

• $13,369.50

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

Full-time employment is considering working _________ hours per week.

• 50

• 40

• 35

• 45

Tags

CCSS.4.MD.A.2

A W4 Form is a federal tax form that every new employee must complete prior to starting a new job.

• True

• False

How do you calculate earned wages for one week?

• A fixed amount (same amount) every week

• Minimum Wage Rate x Hourly Pay Rate

• One week x Hourly Pay Rate

• Hours worked x Hourly Pay Rate

Tags

CCSS.HSA.SSE.A.1

Most employees are paid every 2 weeks (bi-weekly)?

• True

• False