Income Tax Course Chapter Two
Across
- 1. percentages are rounded to _______places past the decimal point
- 4. your instructor's first name
- 6. IRS prefers ___________cents to the nearest dollar on all individual income tax returns.
- 7. employee compensation reported to the employee on Form W-2
- 8. paid tax return preparers must __________ every return they are paid to prepare.
- 9. taxable income that is not earned
- 10. attached to the tax return to explain various types of income, deductions, and credits
- 13. financial gain derived from labor, capital, or a combination of the two
- 14. an amount received for the use of money (unearned)
- 18. you will do this for many hours to prepare for the next class session
Down
- 2. are used to compile tax information and not sent to IRS with the return
- 3. only ___________ signatures (not photocopied ones)on a substitute W-2 should be sent to the IRS
- 5. payments made by one spouse to former spouse (unearned for most tax purposes)
- 10. schedules and __________ are official IRS documents used to report various types of income, deductions, and credits.
- 11. an amount ($3,650 in 2010) allowed by law as a reduction of income that would otherwise be taxed
- 12. _________ income is total worldwide income subject to tax
- 15. income received for services performed
- 16. taxable gratuities received (earned)
- 17. decimals will be rounded to _______places past the decimal point