FINE PRINT: W-4 Form

1. What is Maxwell's filing status?

• Single
• Married filing jointly
• Head of household
• Dependent

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

• Maxwell and his spouse are planning to itemize their deductions this year
• Maxwell and his spouse both work, or Maxwell himself has two jobs
• Maxwell and his spouse both work at Big City Office Furniture
• Maxwell and his spouse are the owners of Big City Office Furniture

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

• His Social Security number
• His address
• The amount of taxes he has paid in the last five years
• The number of dependents he plans to claim on his tax return

4. 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?

• 1
• 2
• 3
• 4

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

• 0
• 1
• 2
• 3

6. 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?

• No need to change the form
• Step 2
• Step 3
• Step 4

7. 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

8. How much EXTRA money is Maxwell having held from each paycheck?

• $0
• $10
• $50
• Cannot tell from this form

9. A W-4 form is given to you by your employer to complete for that specific job. Which statement below is TRUE?

• Maxwell started working at this job during the 2021 tax year
• Maxwell submitted the W-4 a few days after he started
• Maxwell lives and works in the same city
• Maxwell completed this W-4 for his job at Big City Office Furniture

10. When Maxwell completes this W-4, who should he submit it to?

• Big City Office Furniture
• The IRS
• No one - he keeps it for his records
• His spouse