C10 L4

According to the passage, what form do you receive from your employer at the end of January that indicates it's time to file your taxes?

• Form 1040

• Form W-2

• Form 1099

• Form 4868

What is the usual filing deadline for federal tax returns in the United States?

• April 15

• January 1

• July 4

• December 31

Generally speaking, who has to file a federal tax return each year according to the book?

• Every American who earns an income and has tax deducted.

• Only people who are self-employed.

• Only people over the age of 65.

• Only people who receive government benefits.

According to the passage, if a high school student earned more than $12,200 and had income tax taken out of their paycheck, do they have to file a tax return?

• Yes

• No, only if they are over 21

• No, only if they are self-employed

• No, only if they have dependents

Did Americans always have their income taxes withheld from their paychecks?

• No, before 1943, Americans paid their income taxes quarterly or annually. The Current Tax Payment Act of 1943 required companies to withhold income taxes from employees’ paychecks.

• Yes, Americans have always had their income taxes withheld from their paychecks since the founding of the country.

• No, income taxes have never been withheld from paychecks in the United States.

• Yes, but only after the introduction of the Social Security Act in 1935.

Getting Started: To get started with your tax return, what can you do to obtain the tax return forms?

• Buy them from a store

• Download and print them from the IRS website

• Request them by mail only

• Only a tax professional can provide them

What is the term used for filing your tax return electronically?

• E-filing

• E-mailing

• E-signing

• E-paying

Getting Started: Tax software and online tax preparation sites offer free ______ for most federal tax returns. (Fill in the blank)

• e-filing

• consultations

• audits

• refunds

Getting Started: True or False: You may need to file a state tax return depending on where you live.

• True

• False

What is the main form most people use to list income, expenses, and take the standard deduction during tax season?

• Form 1040

• Schedule A

• Schedule C

• Schedule SE