FINE PRINT: W-4 Form

1. What is Maxwell's filing status?

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

2. Which statement can you assume is TRUE?

• Maxwell and his spouse plan to itemize their deductions this year
• Maxwell and his spouse both work, or Maxwell himself has two jobs
• Maxwell and his spouse 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. Maxwell and his spouse file their taxes jointly and entered $4,000 on line 3. What does that tell you?

• Maxwell and his spouse make less than $400,000 and have zero children
• Maxwell and his spouse make less than $400,000 and have two children
• Maxwell and his spouse make more than $400,000 and have zero children
• Maxwell and his spouse make more than $400,000 and have two children

5. How many other dependents does Maxwell have?

• 0
• 1
• 2
• 3

6. If Maxwell had other income from interest or dividends which step might he want to complete on the W-4 form?

• Step 1
• Step 2(b)
• Step 3
• Step 4(a)

7. In June, Maxwell’s father comes to live in their home and can count as Maxwell’s dependent. What does Maxwell need to do on the new W-4 form he submits to reflect this change?

• Maxwell does not need to change anything on the new W-4 form
• Claim $500 more in Box 3
• Claim $2000 more in Box 3
• Verbally tell the HR department at Big City Office Furniture

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

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

9. Which statement below is TRUE?

• Maxwell started working at this job during the 2024 tax year
• Maxwell signed the W-4 form a few days before 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