Taxes

Unit Assessment

Pending Verification

10.1 - Tax Basics

Students will be able to:

Explain where income taxes are collected from and how they provide revenue for public expenses
Identify how different types of commerce are taxed on a daily basis
Describe how the progressive tax code and different taxes between states lead to individuals paying varying amounts of taxes

Lesson

Assessment

Pending Verification

10.2 - Work and Income Taxes

Students will be able to:

Explain the purpose of a W-4 and what withholdings mean for your paycheck
Identify the elements of the payroll tax, how much they deduct, and where the money goes
Complete a W-4
Read a paycheck stub and describe the different deductions
Explain the tax differences between different types of income (salary vs. wage, earned vs. investment)

Lesson

Assessment

Pending Verification

10.3 - Filing Your Taxes

Students will be able to:

Determine whether they need to file a tax return
Read a W-2 and identify major components
Complete a 1040EZ for a variety of use cases
Describe the different options for filing taxes
Describe options for paying owed taxes and receiving a refund
Explain the consequences of not filing taxes

Lesson

Assessment

Pending Verification

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ANALYZE: Check Your Tax Rate from 1913 - 2012

In this activity, students will be able to:

Learn how tax rates are related to income
Observe the change in tax rate over time
Analyze aspects of the interactive to understand how different variables affect tax rate

CALCULATE: Completing a 1040EZ (Sp)

In this activity, students will be able to:

Complete a 1040EZ form for individuals with a variety of backgrounds and personal situations (dependent vs. independent, part-time vs. full-time, etc.)
Available in English & Spanish

CALCULATE: How Allowances Affect Your Taxes (Sp)

In this activity, students will be able to:

Describe the relationship between the number of allowances they claim on their W-4 and the size of their tax refund (or taxes owed)
Available in English & Spanish

CALCULATE: How Much Do I Pay in Taxes? (Sp)

In this activity, students will be able to:

Determine the taxes due for a variety of different people
Explain how certain factors (state of residence, cost of living) can affect the amount of taxes owed
Available in English & Spanish

CALCULATE: Your Tax Due

In this activity, students will be able to:

Calculate their taxable income
Calculate their tax due
Create a paycheck stub

COMPARE: Tax Forms and their Purpose (Sp)

In this activity, students will be able to:

Identify the purpose of a variety of tax forms, including the W-2, W-4, 1099, 1040, 1040EZ and I-9
Available in English & Spanish

RESEARCH: The Tax Cycle (Sp)

In this activity, students will be able to:

List important dates in the yearly tax cycle
Describe the event that takes place on each date in the tax cycle
Available in English & Spanish

How Old Are Most Taxpayers?

Source: Tax Foundation

How Much Do You Expect to Get From Your Tax Return?

Source: CreditDonkey.com

What Are The Current Federal Tax Brackets?

Source: Internal Revenue Service

When Do People File Their Tax Returns?

Source: FiveThirtyEight

What are the top three expenses the government pays for with our tax dollars?

What percentage of taxpayers are teenagers?

When do most Americans file their taxes?

Filling Out Your W-4 Form

Understanding the W-2 Form