Taxes

Which of the following is NOT a way you can file your taxes?

• Through a tax professional

• Mailing in a paper tax return to the Federal government

• Using tax software like TurboTax

• Through your employer's HR department

Our tax money is spent on all of the following EXCEPT:

• Social Security

• The Military

• Private School Education

• National Parks

Which of the following is NOT a category in the Federal government's spending?

• Mandatory spending

• Discretionary spending

• Interest on loans issued

• Interest on national debt

What do you need to file your 1040 form?

• Your W-2

• Your W-4

• Your prior year's tax return

• Income of $50,000 or more

Earned income is any money you make from things like interest and dividends.

• True

• False

True or False: A teen's earned income can be reported on a parent's tax return.

• True

• False

Jason is 15 and earned $1450 at his job last summer. Should he file a tax return?

• No, because he didn't earn enough.

• No, because you have to be 16 and older to file taxes.

• Yes, because he may get a refund.

• Yes. You must file taxes even if you didn't earn enough.

If you owe taxes, which of the following is FALSE?

• You can make a payment using cash

• You can delay your payment deadline

• With an agreement, you can pay it in installments

• You can make a payment with a debit, but not credit card

Luisa earned $1,200 at her part-time job, and $500 from babysitting in cash. Which is TRUE?

• She will report her total income as $1,700.

• She will report her total income as $1,200.

• She will report her total income as $500.

• Luisa is required to file a tax return.

What item would you DEFINITELY see on a paystub?

• Retirement

• Healthcare

• Gross Pay

• Your occupation/role