WorksheetsTaxes - Unit 9
Total questions: 15
Worksheet time: 15mins
When do you have to start paying income taxes?
When you get a full-time job
When you earn more than the minimum required income
At age 18
When the IRS notifies you
Why is it important to be careful when filling out your 1040 form?
The 1040 form shows if you owe taxes or get a refund
Mistakes make you ineligible for work next year
A mistake will stop you from getting future refunds
Filling it out wrong will change how much tax is taken from your paychecks
Which paycheck withholding puts money into a retirement fund you manage?
Federal income taxes
401(k) contribution
Medicare
Social Security
Which of these does NOT affect whether you need to file a federal tax return?
Are you claimed as a dependent on anyone else's tax return?
How much income did you earn this year?
What state do you live in?
What type of income did you earn this year?
Elaine just started a new job. Which step is she responsible for?
Fill out a W-4 form
Send tax withholdings to the government
Fill out a W-2 form
Decide how much tax to withhold from her paychecks
Which tax form proves you are eligible to work in the U.S.?
1040
W-4
I-9
1099
Which statement about this W-2 form is true?
Lily paid $1,189.90 in state income taxes
Lily works in the same city as Avia Consulting
Avia Consulting will use this W-2 to file their 1040 form
Lily earned about $117,000 based on her Wages, Social Security wages, and Medicare wages
If you paid too much tax and the government owes you money, what is this called?
deduction
refund
withholding
direct deposit
What is the net pay for this pay period?
$2,680.80
$335.10
$400.00
$3,200
How much was paid for Medicare in this pay period?
$24.80
$5.80
$44.50
$52.20
Which statement about tax filing websites is true?
You can avoid paying a professional, but may have to pay to e-file online
You always get a higher refund than with paper forms or a professional
Filing your taxes using a website is always free
You get a discount if you owe money and e-file online
Who is considered a "dependent" for tax purposes?
Someone temporarily disabled
A child or adult you support financially
An adult who supports you
A full-time student under 30
If a taxpayer does not have enough tax withheld on their W-4, what will likely happen after filing taxes?
They will owe a payment to the IRS
They will receive a refund
They will be charged with tax evasion
They will be audited
Which statement about the W-2 form is TRUE?
The W-2 shows interest earned from investments
You need a separate W-2 from each employer to file taxes
All your wages from every job appear on one W-2 form
A W-2 lists all the money you earned in cash last year
Who would NOT be required to file a tax return?
Isaiah, who owns a business and made $7,000
Janet, who earned $28,200 in cash
Max, who earned $9,500 from part-time jobs
Dani, a barista who earned $13,000 and $250 in tips
