WorksheetsPFM Tax #2
Total questions: 19
Worksheet time: 9mins
Which form is used to report an employees earnings and taxes paid in a year?
W-2
W-4
I-9
1040
By what date must employers provide, or place in the mail, a wage earner's W-2 statement?
January 1
January 31
April 1
April 15
Income that has not been worked for such as interest, dividends, or gambling winnings
disposable income
unearned income
earned income
workers compensation
Wages, salary and tips
unearned income
earned income
disposable income
The main purpose of a W4 is
To accept a new job
To figure out your tax refund
To state your salary
To tell employers how much taxes to take out of your check
When do you start paying taxes?
when you turn 18
when you get a full-time job (part-time does not count)
when you are notified by the IRS that you are required to pay federal income taxes
when you make more than the minimum income requirement
What form am I? I am received when you start a job. You use me to prove that you are eligible to work in the US, and you must provide forms of identification when submitting me.
I-9
1099
1040
W-4
Which of the following describe what a "dependent" is for tax purposes?
someone under the age of 19 who you financially support
someone who is temporarily disabled
someone who financially supports you
someone who is a full-time student under the age of 30
What tax form am I/ I am received in January. There is one of me for every employer that you worked for in the previous year. I have information on how much you earned and how much you paid in taxes for the previous calendar year.
1040
I-9
W-4
W-2
Jess is 21, in college, & has a job that provides 65% of her support. Is she a dependent?
Yes
No
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.
True or False: A teen's earned income can be reported on a parent's tax return.
True
False
If a teen files a tax return, can the parent still claim him/her as a dependent?
Yes. All teens are dependents until they are 18 years old
No. If a teen files a tax return, he/she cannot be claimed
Yes, as long as the teen meets the dependency requirements
Yes, but the parent has to add the teen's income to theirs
What is a 1099 Form?
The common form used to file taxes
A form that shows how much tax you have had withheld form your paycheck
Tax form given to private contractors (no taxes have been withheld)
A form that shows how much medicare you have paid
