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PERSONAL INCOME TAX (FILING YOUR TAXES) *WATCH THE 2 MINUTE VIDEO FROM “TURBO TAX” AND ANSWER THE FOLLOWING QUESTIONS (SOME QUESTIONS MAY NEED TO ALSO BE RESEARCHED ONLINE)What is income tax and where does the money go?What form does an employer have you complete?How do you lower how much taxes are withheld from your paycheck?At the end of the year, what form do you get from your employee that shows your yearly tax statement?What are tax deductions, list a few?What is a tax credit, list a few?*COMPLETE SIMULATION 1 & 2, ANSWER THE QUESTIONS (simulation 1 has 1 exemption)THE TAX FORM IS AUTOMATICALLY COMPLETED ONCE YOU HAVE ANSWERED THE QUESTIONS ON EACH SIMULATION GO TO THE FOLLOWING LINK TO PRACTICE COMPLETING TAX FORM: COMPLETE THE FOLLOWING SIMULATIONS USING THE ONLINE TOOL. FILL OUT THE CORRESPONDING TAX FORMS ON THE WEBPAGE SIMULATION. SIMULATION 1 (LAWRENCE RED OWL) : W-2SIMULATION 2 (CICELY KING): 1040 EZ- Income Tax return form ................
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