Income Tax Course Chapter Two

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