Details of a US tax return

The video tutorial outlines essential steps for taxpayers to ensure their tax return entries are accurate and compliant. It covers entering Social Security numbers, attaching W-2 forms, explaining dependents, using the correct tax table, and ensuring all entries are on the proper lines. The tutorial emphasizes the importance of checking math, providing explanatory schedules, and signing the return if filing jointly. It highlights the benefits of compliance, such as discovering errors and ensuring fair tax contributions through computer verification.

What is one of the first steps a taxpayer should take when preparing their tax return?

• Explain dependents

• Enter Social Security numbers

• Attach W-2 forms

• Check math calculations

Why is it important to use the correct tax table or tax rate schedule?

• To calculate the correct amount of tax owed

• To ensure entries are on the proper lines

• To avoid penalties from the IRS

• To ensure the refund is maximized

What should be done if both parties are filing jointly?

• No signature is required

• Only the party with higher income signs

• Both parties must sign and date the return

• Only one party needs to sign the return

What is one benefit of the tax system mentioned in the video?

• It eliminates the need for tax professionals

• It allows taxpayers to pay less than they owe

• It helps discover errors that may cost the taxpayer

• It guarantees a refund every year

How does computer verification contribute to the tax system?

• By ensuring all taxpayers pay the same amount

• By allowing taxpayers to file returns online

• By ensuring taxpayers pay exactly what they owe

• By providing automatic refunds