Tax Simulation Activity

Okay. It’s time to put what you’ve learned into practice. In this activity, you assume the profile of a young adult (age 22) who recently received their W-2 statement from their employer. It’s time to complete your tax return to determine if you withheld too much or too little in federal taxes last year. Does the IRS owe you a refund or do you owe the IRS additional taxes?

You work for Action Outdoors and have received the W-2 statement below detailing your income, Social Security and Medicare tax withheld from your pay, and your federal income tax withheld and sent to the IRS for the year.

You also received the 1099 Miscellaneous Income form detailing the amount of a per capita payment for the year.

Use the information on the W-2 and 1099 to complete the tax return at the link provided below. Assume you are single with no dependents, and that you are not a dependent of anyone else.

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Click on this link to download and complete your 1040 tax form: Blank 1040 form

Click on this link to get the 1040 tax tables. They are on page 65.

After completing your 1040 tax form, click here to check your work.