Download JeopardyReview2_answers

Accounting Jeopardy
Forms
True/False
Tax Table
Make a Choice
Find What?
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This form reports the interest earned
Either from savings, or CD accounts
Answer: 1099-int
This form must be received by January 31,
It is needed in order to complete tax returns,
This form reports all earnings and taxes that
Have been withheld from a paycheck
Answer: W-2
This form is used by employers in order
To calculate the correct amount
Of federal income tax to withhold
Answer: W-4
1040, 1040A and 1040EZ are
called this
Answer: Tax forms
Total wages, salary and
tips as well as taxes
withheld for the year are
found in this form
Answer: W-2
1040EZ form can be used by single
and
Married couples that are filing jointly
Answer: True
Form 1040 should be used by individuals
That itemize their expenses
Answer: True
Form 1040A can be used by
Individuals that have dependants
Answer: True, same
for form 1040
Forms 1040a is used by
self employed individuals
Answer: False. 1040
is correct answer
The only tax form that does not allow
Dependants to be claimed is form 1040
Answer: False.
1040EZ is correct
answer
This is the tax
amount
For Mr.
Williams who is
married but
Filing separate
and
Has a taxable
income of
$25,000
This is the tax
amount
For Mrs. Snyder
who is married
filing jointly
and
Has a taxable
income of $55,060
This is the
tax amount
For Ms.
Martinez
who is
single and
Has a
taxable
income of
$37,060
This is the tax
amount
For Ms.
Brown who is
head of
household
and
Has a taxable
income of
$75,380
This is when a person chooses
NOT to pay their taxes even
though he/she has the money to
pay them
Answer: Tax Evasion
Pay less taxes:
A)Low taxable income or
B)High Taxable income
Answer: A
Provides Higher Tax Refund:
A) Low Standard Deduction
B) High Standard Deduction
Answer: B
Provides Higher Tax Refund
A) Not itemizing deductions
B) Itemizing deductions.
Answer: B
Provides Higher Tax Refund:
A) Not Claiming Dependants
B) Claiming Dependants
Answer: B
Form that provides
opportunity for a bigger refund
A) 1040
B) 1040EZ
Answer: 1040 (because we
claim dependants and more
tax credits are available)
This is the number we would report in line 7
of tax form as wages, salaries and tips
This is the amount of federal income
tax withheld from our paycheck
This is the amount of interest earned
from savings account
This is the amount reported on line 73 and 74a
Answer: $2,400 ($3,400- $1,050)
This is the maximum amount we can
be refunded from our taxes