Analyze this sample W-4 and answer the questions that follow.
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Learning ObjectivesStudents will be able to:
| National Standards for Personal Financial Education Earning Income
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Learning ObjectivesStudents will be able to:
| National Standards for Personal Financial Education Earning Income
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For the following topics related to taxes, choose whether you are very confident, somewhat confident, or not confident at all.
not confident at all | somewhat confident | very confident | |
|---|---|---|---|
Important tax dates and deadlines throughout the year | |||
The multiple different tax forms and their purpose | |||
What taxes-related tasks need to be completed when I start a new job or change jobs |
Tax forms can feel like a jumble of letters and numbers. Learn how to keep them straight.
| Draggable item | arrow_right_alt | Corresponding Item |
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I-9 | arrow_right_alt |
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1040 | arrow_right_alt |
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W-4 | arrow_right_alt |
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W-2 | arrow_right_alt |
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1099 | arrow_right_alt |
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You recently accepted a new job and your first day is next week. What form will you have to complete before you receive your first paycheck?
You were unable to file your taxes before the April deadline and your application for an extension was approved. What month was your deadline extended to?
Which of the following statements most accurately describes why it’s important to correctly fill out a W-4 form?
Which of the following statements about the W-4 form is TRUE? (select all that apply)
Miguel has been working at his job for 3 years and already filled out a W-4 when he was first hired. This year, he just got married and is planning on filing his taxes jointly with his spouse. What should he do?
You will need to include all of the following information on a W-4 form EXCEPT…
What is Maxwell’s filing status?
Which statement can you assume is TRUE?
In order to fill out this W-4 form, Maxwell needed to know all of this information EXCEPT…
Maxwell and his spouse file their taxes jointly and entered $4,400 on line 3. What does that tell you?
How many other dependents does Maxwell have?
If Maxwell had other income from interest or dividends which step might he want to complete on the W-4 form?
In June, Maxwell’s father comes to live in their home and can count as Maxwell’s dependent. What does Maxwell need to do on the new W-4 form he submits to reflect this change?
How much EXTRA money is Maxwell withholding from each paycheck?
Which statement below is TRUE?
When Maxwell completes this W-4, who should he submit it to?