accounting jeopardy
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Accounting Jeopardy. Ms. Naira TEST Review. This form reports the interest earned Either from savings, or CD accounts. Answer: 1099-int. This form must be received by January 31, It is needed in order to complete tax returns, This form reports all earnings and taxes that - PowerPoint PPT PresentationTRANSCRIPT
Accounting JeopardyForms True/False Tax Table Make a Choice Find What?
10 10 10 10 10
20 20 20 20 20
30 30 30 30 30
40 40 40 40 40
50 50 50 50 50
Ms. NairaTEST
Review
This form must be received by January 31,It is needed in order to complete tax returns,This form reports all earnings and taxes that
Have been withheld from a paycheck
Answer: W-2
This form is used by employers in orderTo calculate the correct amount
Of federal income tax to withhold
Answer: W-4
Total wages, salary and tips as well as taxes
withheld for the year are found in this form
Answer: W-2
The only tax form that does not allow Dependants to be claimed is form 1040
Answer: False. 1040EZ is correct answer
This is the tax amount For Mr.
Williams who is married but
Filing separate and
Has a taxable income of $25,000
This is the tax amount
For Mrs. Snyder who is married filing jointly
and Has a taxable
income of $55,060
This is when a person chooses NOT to pay their taxes even
though he/she has the money to pay them
Answer: Tax Evasion
Form that provides opportunity for a bigger refund
A) 1040 B) 1040EZ
Answer: 1040 (because we claim dependants and more tax credits are available)