Glencoe Accounting

Chapter 17: Special Journals: Purchases and Cash Payments

Making It Personal

About.com, Filing Your Taxes for the First Time

Becoming part of the U.S. workforce means you have also joined the income tax system. You should be prepared to file a tax return and calculate your taxes. About.com offers a helpful web page called Filing Your Taxes for the First Time. The page gets you on track with some simple tips on tax returns and tax return jargon.

Destination Title: About.com, Filing Your Taxes for the First Time

http://taxes.about.com/od/taxplanning/qt/first_time.htm

Guided Activity

Start at the Filing Your Taxes for the First Time Web site. Record your answers to these questions separately.

1. Which taxpayers can use the 1040EZ form?
2. Click basic principles of the U.S. tax system in The Big Picture section of the page. How does the US government use our taxes?
3. What does "subject to the income tax" mean?
4. What situation might result if citizens failed to pay their income taxes to the government?