Confident Consumer – 12/21/12

Taxes

Use this site for help: www.irs.gov/.

Where is the closest IRS Taxpayer Assistance Center to where you live? [(IRS Resources – Contact My Local Office) Answer depends on where the student lives.]
What if I owe more than I can pay? [(Individuals – Filing Late Returns – FAQ’s)
What happens if I just don’t file? [(Individuals – Filing Late Returns – FAQ’s)
Let’s say I wait tables after school. Are my tips taxable? [(Individuals – Employees – FAQ’s – regular tip income) Y
When did the IRS come into existence, and why? [(About IRS – Brief History)
What was the highest percentage income tax being paid in 1918? Why was it so high? [(About IRS – Brief History)
Look at Forms 1040A and 1040EZ. Which looks easier? Why? [(Site Map – Individuals – 1040 Central)
Keep looking at the 1040A and EZ. According to the titles on the forms, who should use each form? [(Site Map – Individuals – 1040 Central)
What’s the purpose of a W-4 form? [(Home – Most Requested Forms & Publications – Form W-4)
What are the three important qualifications you must meet to be able to file a 1040EZ tax return? [(1040EZ Get Started)
How much is the standard deduction? [(Popular Tips – Maximize Your Tax Deductions) T
When should you itemize instead of claiming the standard deduction? [(Popular Tips – Maximize Your Tax Deductions)
List three itemized deductions you could claim now or in the near future. [(Popular Tips – Maximize Your Tax Deductions) T