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H&R Block Final Review (H&R Block Tax Income Course Final Exam Review 2024): Questions/Answers

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H&R Block Final Review (H&R Block Tax Income Course Final Exam Review 2024): Questions/Answers Earned Income ️️income is received for services performed. Includes wages, commissions, tips, farming, and other business income Unearned Income ️️taxable income that does not meet the definition of earned income. Ex: interest income, dividends, rents and royalties, pensions, alimony, and unemployment income. If an employee thinks their Form W-2 is incorrect, what should they do? ️️Taxpayer should notify employer and request a corrected Form W-2 and have them update their records with Social Secutiry Adminstration. Notify IRS if necessary

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