Analyze official rules and instructions to determine an individual’s tax liability and complete a basic tax return.
Note: Completing a tax return requires specific steps that need to be executed in a sequence. The assessments in this course are presented in a sequence and must be completed in order. Incorrect entries in this assessment will result in incorrect entries in future assessments. Do not complete Assessment 2 until you have submitted and received faculty feedback for Assessment 1.
Introduction
Using an official primary source to obtain answers to tax questions is an essential academic skill and step toward financial literacy. In this assessment you will consult the primary sources available to all citizens from the IRS to identify rules such as the age limit of a dependent child, the amount of earnings that trigger a filing requirement, and whether or not tax software is necessary to purchase for every return.
Note: The assessments in this course are presented in a sequence and must be completed in order. Do not proceed to Assessment 2 until you have submitted and received faculty feedback for Assessment 1.
Preparation
Sample Solution