Consumer Math Unit 9.3
Income Tax Return, 9.4
1040A fully solved & updated
1040 - answer The standard Internal Revenue Service (IRS) form
that individuals use to file their annual income tax returns. There
used to be a 1040EZ, 1040A form, and 1040, but the forms are all
combined now.
W-2 form - answer Given to employees by the end of January;
summarizes an employee's earnings and tax withholdings for the
year
standard deduction - answer A stated amount that you may subtract
from adjusted gross income instead of itemizing your deductions
exemption - answer an amount you may subtract from your income
for each person who depends on your income to live
April 15 - answer the last day you can send in federal income tax
forms, must be postmarked from the post office or you can send it
with your e-file. You can do taxes on programs online
are scholarships taxable? - answer if it is a tax-free scholarship or
fellowship and if you are a degree candidate and the award is used
to pay for tuition and required fees, books, supplies and equipment.
Some scholarships and fellowships are not tax exempt
joint return - answer A return combining the income, exemptions,
credits, and deductions of a husband and wife.
separate return - answer husband and wife each fill out a tax return
Income Tax Return, 9.4
1040A fully solved & updated
1040 - answer The standard Internal Revenue Service (IRS) form
that individuals use to file their annual income tax returns. There
used to be a 1040EZ, 1040A form, and 1040, but the forms are all
combined now.
W-2 form - answer Given to employees by the end of January;
summarizes an employee's earnings and tax withholdings for the
year
standard deduction - answer A stated amount that you may subtract
from adjusted gross income instead of itemizing your deductions
exemption - answer an amount you may subtract from your income
for each person who depends on your income to live
April 15 - answer the last day you can send in federal income tax
forms, must be postmarked from the post office or you can send it
with your e-file. You can do taxes on programs online
are scholarships taxable? - answer if it is a tax-free scholarship or
fellowship and if you are a degree candidate and the award is used
to pay for tuition and required fees, books, supplies and equipment.
Some scholarships and fellowships are not tax exempt
joint return - answer A return combining the income, exemptions,
credits, and deductions of a husband and wife.
separate return - answer husband and wife each fill out a tax return
