1.05BM Teens and Taxes

Last updated about 1 month ago

31 questions

Note from the author:

Student Activity Packet
Analyze:  Should They File a Tax Return?
Learning Objectives
Students will be able to:
Identify key facts about taxes and the tax cycle
Explain who qualifies to be claimed as a dependent for tax purposes
Determine whether or not a person is required to file taxes
National Standards for Personal Financial Education
Earning Income
8a: Explain the difference between earned and unearned income
11a: Evaluate the benefits and costs of gig employment, such as driving for a cab or delivery service

Instructions

Student Activity Packet
Analyze:  Should They File a Tax Return?
Learning Objectives
Students will be able to:
Identify key facts about taxes and the tax cycle
Explain who qualifies to be claimed as a dependent for tax purposes
Determine whether or not a person is required to file taxes
National Standards for Personal Financial Education
Earning Income
8a: Explain the difference between earned and unearned income
11a: Evaluate the benefits and costs of gig employment, such as driving for a cab or delivery service

Intro/Warm-Up:

Learn It!

Do It!

Exit Ticket

1.05BM Teens and Taxes

Student Activity Packet

Analyze: Should They File a Tax Return?

Learning Objectives

Student Activity Packet

Analyze: Should They File a Tax Return?

Learning Objectives

1.05BM Teens and Taxes

Student Activity Packet

Analyze: Should They File a Tax Return?

Learning Objectives

Student Activity Packet

Analyze: Should They File a Tax Return?

Learning Objectives

QUESTION OF THE DAY: How much tax refund money went unclaimed by 1.5 million Americans who didn’t file their taxes?

5 min

REFERENCE: Dependents

Only U.S. citizens can be claimed as a dependent for tax purposes.

REFERENCE: Do I Need to File a Tax Return?

8 min

The resource mentions that if the IRS owes you a refund, you won’t be penalized if you file your tax return late. Why might you want to file your tax return on time anyway?

All of the following people can be claimed as a dependent for tax purposes EXCEPT…

You are required to file a tax return in all of the following scenarios EXCEPT…

What is the purpose of the self-employment tax (SECA)?

QUESTION OF THE DAY: How much tax refund money went unclaimed by 1.5 million Americans who didn’t file their taxes?

5 min

REFERENCE: Dependents

Only U.S. citizens can be claimed as a dependent for tax purposes.

REFERENCE: Do I Need to File a Tax Return?

8 min

Tip: The first question requires information from this resource and the Updated Tax Figures resource.Which of the following people is/are legally required to file a tax return?

The resource mentions that if the IRS owes you a refund, you won’t be penalized if you file your tax return late. Why might you want to file your tax return on time anyway?

Can Tim be claimed as a dependent?

Can they be claimed as a dependent?

Can Mason be claimed as a dependent?

Can Kathryn be claimed as a dependent?

Can they be claimed as a dependent?

Can Ren be claimed as a dependent?

Can Tori be claimed as a dependent?

All of the following people can be claimed as a dependent for tax purposes EXCEPT…

You are required to file a tax return in all of the following scenarios EXCEPT…

What is the purpose of the self-employment tax (SECA)?

Tip: The first question requires information from this resource and the Updated Tax Figures resource.Which of the following people is/are legally required to file a tax return?

Can Tim be claimed as a dependent?

Can they be claimed as a dependent?

Can Mason be claimed as a dependent?

Can Kathryn be claimed as a dependent?

Can they be claimed as a dependent?

Can Ren be claimed as a dependent?

Can Tori be claimed as a dependent?

Tip: The first question requires information from this resource and the Updated Tax Figures resource.

Which of the following people is/are legally required to file a tax return?

Tip: The first question requires information from this resource and the Updated Tax Figures resource.

Which of the following people is/are legally required to file a tax return?