taxes

Which is the shortest and simplest tax form? 1040 long form 1040EZ 1040A 140E

1040EZ

IRS

Internal Revenue Service; a government agency that is responsible for collecting taxes

What would happen if you didn't file taxes? The first time, the IRS would file for you and you'd owe more than you would have if you had filed yourself, plus penalties and interest. The IRS would conduct an audit and you'd owe penalties and interest. The first time, the IRS would probably overlook it. If they caught it, you'd face jail time, plus owe all the taxes and penalties and interest. It's impossible to avoid filing taxes.

The first time, the IRS would file for you and you'd owe more than you would have if you had filed yourself, plus penalties and interest.

filing taxes

a category on tax forms that is closely tied to marital status; categories are: single, married, head of household, and widower

W-4 form

a form prepared by an employee for the employer to specify exemptions and determine the amount of taxes to be withheld from the employee's paycheck

tax return form

a tax form that an individual completes to calculate how much is owed to or refunded by the IRS

W-2 form

a tax from that an employer sends to employees after the end of the year to list income and amount paid in taxes

withholding allowances

an amount an individual enters on a W-4 form that helps an employer calculate the amount of income tax to subtract from an employee's paycheck

The deadline to file your tax forms is _____. December 31 April 30 January 1 April 15

april 15th

In one to two sentences, explain why citizens pay taxes.

citizens pay taxes because it helps fund things like roads, food stamps, planned parenthood, police, teachers, and more

The purpose of a W-4 form is to _____. tell the IRS how much money has been paid in taxes inform your employer how much you paid in taxes at your previous job let your employer know how much to take out of your paycheck for taxes file a tax return

let your employer know how much to take out of your paycheck for taxes

Select the different types of taxes. sales property elective income voluntary

sales, property, income

dependant

someone who depends on another individual for food, shelter, and other necessities, usually a child

The government uses the revenue from taxes to pay for goods and services for the community. True False

true

Ann is in the middle of completing her first 1040EZ tax form. She has some questions about an instruction on the form. What should she do?

you could google how to or ask a tax advisor or ask someone who has done it before