W-2 Forms Quiz

All of the following people should receive W-2 Forms EXCEPT…

• Edgar, who averages 10 hours per week as one of five employees at We Clean Pools

• Marcus, who is on salary as a sales representative at a shoe store, working full-time

• Serena, who is a freelance wedding photographer

• Melinda, who works 40 hours/week at a local ice cream shop during the summer

In which box on your W-2 can you find the following? Wages and Income, Taxes Withheld

• Wages and income in BOX 1 – Taxes withheld in BOX 2

• Wages and income in BOX 2 – Taxes withheld in BOX 1

• Wages and income in BOX 2 – Taxes withheld in BOX 3

• Wages and income in BOX 1 – Taxes withheld not provided on W-2 Form

When should you receive your W-2 form from your employer?

• January 1st

• April 15th

• January 31st

• Attached to every paystub

What is Maxwell’s filing status?

• Single

• Dependent

• Head of household

• Married filing jointly

Based on the information provided on this W-4 form, which statement can you assume is TRUE?

• The employee is exempt from withholding

• The employee has multiple jobs

• The employee is claiming dependents

• The employee is single

In order to fill out this W-4 form, Maxwell needed to know all of this information EXCEPT…

• His Social Security number

• The number of dependents he plans to claim on his tax return

• The amount of taxes he’s paid in the last five years

• His address

Assume that Maxwell and his spouse anticipate earning around $110,000 in combined income this year. Given how he’s completed this W-4 form, how many children under the age of 17 does Maxwell have?

• 3

• 4

• 1

• 2

Given how he’s completed this W-4 form, how many other dependents does Maxwell have?

• 1

• 2

• 3

• 0

If Maxwell and his spouse were to have another child, but all other aspects of their life stayed the same, which entries on a new W-4 form would he need to change?

• Step 4

• Step 2

• Step 1

• Step 3

In June, Maxwell’s father comes to live in their home and can count as Maxwell’s dependent. What steps does Maxwell need to take next?

• There are no steps Maxwell needs to take.

• Submit a new W-4, claiming $500 more in Box 3.

• Submit a new W-4, claiming $2000 more in Box 3.

• Verbally tell the HR department at Big City Office Furniture.