SS.912.FL.2.12

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Identify and complete appropriate tax forms to calculate the amount of federal income tax owed.

Examples

Example: Given a simple scenario, complete the appropriate tax form and identify if the filer will receive a refund or be required to make a payment to the Internal Revenue Service (IRS).

Clarifications

Clarification 1: Instruction includes the identification of various payroll taxes and withholdings (e.g., Social Security, Medicare, federal withholding, etc.).

Clarification 2: Instruction includes formally (using tax tables) and informally (estimating) calculating taxes.

Clarification 3: Instruction includes understanding why calculating one’s taxes may differ from the government’s calculations.

General Information
Subject Area: Social Studies
Grade: 912
Strand: Financial Literacy
Standard: Explore and evaluate the benefits and costs (including tax implications) of various paths toward earning income.
Date Adopted or Revised: 05/24
Status: State Board Approved

Related Courses

This benchmark is part of these courses.
2102300: Economics and Personal Finance (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102305: Economics and Personal Finance Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102371: Personal Finance and Money Management (Specifically in versions: 2023 - 2024, 2024 and beyond (current))
2102373: Personal Finance and Money Management Honors (Specifically in versions: 2023 - 2024, 2024 and beyond (current))

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