Turbo Tax Project: Learn to read W2 and file taxes

Turbo Tax Project: Learn to read W2 and file taxes
Turbo Tax Project: Learn to read W2 and file taxes
Turbo Tax Project: Learn to read W2 and file taxes
Turbo Tax Project: Learn to read W2 and file taxes
Turbo Tax Project: Learn to read W2 and file taxes
Turbo Tax Project: Learn to read W2 and file taxes
Turbo Tax Project: Learn to read W2 and file taxes
Turbo Tax Project: Learn to read W2 and file taxes
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Each year most Americans file individual income taxes. Our tax system is based on self-reporting; each individual reports his or her income accurately and pays the appropriate tax. Congress has passed many laws over the years tweaking and adjusting the different types of tax and the income limits. Many people see a professional tax preparer to file their taxes if they have a complicated scenario. Save some money by filing yourself!

NEW UPDATE INCLUDE ANSWER KEY!!!!
INCLUDE NOTE FOR INSTRUCTOR
INCLUDE RUBRIC FOR PROJECT


By completing this project, students will be able to:

1. Demonstrate how our Income Tax is distributed by the Government.
Activity 1: Article 1- Federal taxes set record in fiscal year 2015…….. Page 4-6
Activity 2: How our taxes is distributed …………………………………Page 7

2. Read and find information on a W-2 form.
Notes on reading W-2 form ………………………………………………Page 8-9
Activity 3: Reading W-2 form………………………-……………………Page 10-12

3. Research information related to filing taxes.
Notes on Publication 501 ………..………………………………………Page 13
Activity 4: Where to file taxes and knowing the filing status….…........Page 14

4. Understand the filling status.
Activity 5: Check for understanding of filing status…………………...Page 15

5. Understand who must file taxes.
Activity 6: Who must file taxes?……..………………………………...Page 16-17

6. Understand exemptions and credits.
Activity 7: Research on Exemptions and Credits ………………....Page 18-19

7. Calculate the amount of support generated by different living situations.
Activity 8: Research on total support…………………………....…...Page 20
Activity 9: Calculating support of a dependent…………….......…...Page 21-23

8. Calculate the Earned Income Credit using the EIC table.
Activity 10: Article 2 - Earned Income Tax Credit ……………..Page 24
Activity 11: Using the EIC table …………………………………Page 25-26

9. Calculating the amount of tax owed using the Tax table.
Activity 12: Calculating tax using table ………………………..……Page 27

10. Explain why some people get a refund and some people owe taxes.
Activity 13: Short response on understanding taxes ………..……Page 28

11. File a sample tax return using the desktop version of Turbo tax, Tax Act, or other software.
Activity 14: Turbo Tax project (Optional or required) …..................Page 29-35
Answer KEY …………………………..…………………………..……Page 36-56
Total Pages
56 pages
Answer Key
Included with rubric
Teaching Duration
3 Weeks
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