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 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

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

1040, 1040A and 1040EZ are called this

Answer: Tax forms

Total wages, salary and tips as well as taxes

withheld for the year are found in this form

Answer: W-2

1040EZ form can be used by single and

Married couples that are filing jointly

Answer: True

Form 1040 should be used by individualsThat itemize their expenses

Answer: True

Form 1040A can be used by Individuals that have dependants

Answer: True, same for form 1040

Forms 1040a is used by self employed individuals

Answer: False. 1040 is correct answer

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 the tax amount

For Ms. Martinez who is

single and Has a

taxable income of $37,060

This is the tax amount For Ms.

Brown who is head of

household and

Has a taxable income of $75,380

This is when a person chooses NOT to pay their taxes even

though he/she has the money to pay them

Answer: Tax Evasion

Pay less taxes:

A)Low taxable income or B)High Taxable income

Answer: A

Provides Higher Tax Refund:

A) Low Standard Deduction B) High Standard Deduction

Answer: B

Provides Higher Tax Refund

A) Not itemizing deductionsB) Itemizing deductions.

Answer: B

Provides Higher Tax Refund:

A) Not Claiming DependantsB) Claiming Dependants

Answer: B

Form that provides opportunity for a bigger refund

A) 1040 B) 1040EZ

Answer: 1040 (because we claim dependants and more tax credits are available)

This is the number we would report in line 7 of tax form as wages, salaries and tips

This is the amount of federal income tax withheld from our paycheck

This is the amount of interest earned from savings account

This is the amount reported on line 73 and 74a

Answer: $2,400 ($3,400- $1,050)

This is the maximum amount we can be refunded from our taxes