Surveyweek 8 quiz – taxes and w-2s (36pts)1. when john received his w2, he received several copies. why was he sent multiple copies

Question

Survey Week 8 Quiz - Taxes and W-2s (36 points)

When John received his W-2, he received several copies. Why was he sent multiple copies of this form?  
John gets 2 copies because this is a W-2. He would get 4 copies of a W-4.  
I do not know.  
The government always prints multiple copies of forms.

The different copies are for John and each tax return he may file.

Who sent John this W-2?

The federal government.  
John's employer - ProperLiving Widget Engineering & Design.  
I do not know.

The Internal Revenue Service.

How much did John make in wages in the 2014 tax year? (Assuming this was John's only job)

$42,417.88  
$31,878.71  
$48,119.00

I do not know.

How much did John "take home" in net pay? (Assuming this was John's only job)

$42,417.88  
$48,119.00  
I do not know.

$31,878.71

How much did John save in his 401(k) in the 2014 tax year?

I do not know.  
$1,781.46  
$1,217.39

$2,113.29

Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax-deductible?

Yes

No

John earned $2,500 as a lifeguard over the summer. This was his only job, and income taxes were deducted from his paychecks by his employer. For filing a tax return, what should John do?

John should report this income on his parents' tax return since he is still living at home.  
John should send a check for $50 to the IRS in case the employer didn't take out enough taxes.  
John should not file a tax return. John is legally not required to file because his income is less than the minimum requirement for filing.

John should file a tax return. He can then get all of his taxed money refunded.

Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest.

1) Higher  2) Lower  
1) Lower  2) Higher  
1) Higher  2) Higher

1) Lower  2) Lower

Which are tax-deductible?

Student loan payments  
None of the answers are correct  
All of the answers are correct  
401(k) gains  
Community service hours  
Medical bills totaling $200

Anonymous · Accepted Answer

1. When John received his W2, he received several copies. Why was he sent multiple copies of this form?The different copies are for John and each tax return he may file2. Who sent John this W-2?John's employer - ProperLiving Widget Engineering & Design 3. How much did John make in wages in the 2014 tax year? (assuming this was John's only job)I do not know4. How much did John 'take home' in net pay? (assuming this was John's only job)I do not know5. How much did John save in his 401(k) in the 2014 tax year?I do not know6. Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax deductible?Yes8. Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest?1) lower 2) higher9. Which are tax deductible?Student loan payments

Anonymous · Answer

$31,878.71 $42,417.88 yes community service hoursthe different copies are for john and each tax return he may file 1) lower 2) lower employer didn't take out enough taxes. $2,113.29

Susan Haley · Answer

1. W2 is a form every empoyer send to his employees that reports the annual wagges of the employees and the amount of taxes. This W2 form is sent at the end of the year. The employees get at least two copies of this form. One copy is for the employee and the other is for IRS (Internal revenue Service) to report the wages.2. John's employeer sent John the W-2 form. Every employer is obligated to deliver W2 form to all of his employees.John can get copy of the W-2 form for IRS (Internal Revenue Service). This is done for a fee.3/ In order to know how much John did in wages in the 2014 we must have knowledge of John's salaty. Without this information we can not clculate the wages.

Anonymous · Answer

1. When John received his W2, he received several copies. Why was he sent multiple copies of this form?The different copies are for John and each tax return he may file2. Who sent John this W-2?John's employer - ProperLiving Widget Engineering & Design6. Assume your employer provides health care insurance and deducts your portion of the premiums from your paycheck with pre-tax dollars. Are your health insurance premiums federally tax deductible?Yes7. John earned $2,500 as a life guard over the summer. This was his only job and income taxes were deducted from his paychecks by his employer. For filing a tax return, what should John do?John should file a tax return. He can then get all of his taxed money refunded.8. Select what would happen to your 1) taxable income and 2) tax liability when you are able to claim a deduction such as student loan interest?1) lower 2) lower

Anonymous · Answer

I need more information.

Anonymous · Answer

The different copies are for John and each tax return he may fileJohn's employer - ProperLiving Widget Engineering & Design$42,417.88$31,878.71$2,113.29YesJohn should file a tax return. He can then get all of his taxed money refunded.1) lower 2) lowerNone of the answers are correct

Dr. Vernie Reilly PhD

Surveyweek 8 quiz – taxes and w-2s (36pts)1. when john received his w2, he received several copies. why was he sent multiple copies

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