ACC 175, Federal Tax - Individuals Case 1 - 30 Points, 2021 Fall You should first review the sample tax return that I have provided to help you complete this return. For this case, I will provide the blank forms, but begin to familiarize yourself with the irs.gov website for future cases. Fill in the lines on the blank forms attached, save to your files, and then scan and submit via Blackboard. I prefer that they be typed; but if you must handwrite, be sure that your writing is legible. Any line that I cannot read will be marked wrong. Case Information: Prepare the 2020 tax return for Larry Bronze, age 54 Occupation: Manager, and Wilma Bronze, age 50, Occupation: Clerk, who are married and file a joint return. Form 1040 - pages 1 and 2 Schedule 1 Schedule B Notes: Their address: 2021 Main Street, Cincinnati, Ohio, 45202. They both had full year health care coverage and they do not wish to contribute to the Presidential Election campaign fund. If they have an overpayment, they would like it refunded to their bank, Routing number 420012089, account number 12234567. If they owe, you do not need to calculate a penalty. Larry's 95-year old mother, Joni Gold, lives with them and they fully provide her support in excess of any income that she received from social security. Her SS number is 123-45-6790. While she is not eligible for the child tax credit, she is eligible for the other dependent credit. Total Salaries See W-2s 500 2,500 4,000 500 Interest income from PNC Bank Proceeds from the sale of 2010 Jeep that they bought five years ago for $8,000 IRA Contribution (deductible) Lottery winning ticket Gift from Wilma's brother for their 30th wedding anniversary Larry - Jury duty pay Itemized Deductions Federal Income Taxes withheld from salaries from Forms W-2 Social security (FICA) and Medicare tax withheld 1,000 100 14,700 See W-2s See W-2s Due: 11:59 pm - Monday, September 20, 2021. Late points will be deducted for failure to submit on time (see Course Policies). Do not use a tax software application to complete the return You must submit your assignment via Blackboard. You may scan as one document or attach each form. Each student must individually complete and submit for grading all pages of the tax return. Group efforts are not permitted and will result in a -- for all parties involved. You will be graded on each line item, not on the final answer as far as amount refunded or owed, so mistakes do not compound. F3 F4 F5 Insert Delete PC # $ 3 N space a Employee's social security number 22222 Employer identification number (EIN c Employer's name, address, and ZIP code 132-45-6788 52-8945670 Internal Revenue Service Covington KY 41099 OMB No. 1515-0008 1 Wages, tips, other compensation 30,300,00 3 Social security wages 30 300.00 5 Medicare wages and tips 30, 500,00 7 Social security tips 2 Federal income tax withheld 3065.00 4 Social Security tax withheld 1,891.00 6 Medicare tax withheld 442.25 B Allocated tips d Control number 9 10 Dependent care benefits e Employee's first name and initial Last name Sufl. 11 Nonqualified plans 120 13 SRS Rent Third-party pay 12b Wilma Bronze 2021 main St. Cincinnati OH 45202 14 Other 126 12d f Employee's address and ZIP code 15 State Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Laciye W-2 Wage and Tax Statement Copy 1-For State, City, or Local Tax Department Form 2020 Department of the Treasury --Internal Revenue Service ACC 175, Federal Tax - Individuals Case 1 - 30 Points, 2021 Fall You should first review the sample tax return that I have provided to help you complete this return. For this case, I will provide the blank forms, but begin to familiarize yourself with the irs.gov website for future cases. Fill in the lines on the blank forms attached, save to your files, and then scan and submit via Blackboard. I prefer that they be typed; but if you must handwrite, be sure that your writing is legible. Any line that I cannot read will be marked wrong. Case Information: Prepare the 2020 tax return for Larry Bronze, age 54 Occupation: Manager, and Wilma Bronze, age 50, Occupation: Clerk, who are married and file a joint return. Form 1040 - pages 1 and 2 Schedule 1 Schedule B Notes: Their address: 2021 Main Street, Cincinnati, Ohio, 45202. They both had full year health care coverage and they do not wish to contribute to the Presidential Election campaign fund. If they have an overpayment, they would like it refunded to their bank, Routing number 420012089, account number 12234567. If they owe, you do not need to calculate a penalty. Larry's 95-year old mother, Joni Gold, lives with them and they fully provide her support in excess of any income that she received from social security. Her SS number is 123-45-6790. While she is not eligible for the child tax credit, she is eligible for the other dependent credit. Total Salaries See W-2s 500 2,500 4,000 500 Interest income from PNC Bank Proceeds from the sale of 2010 Jeep that they bought five years ago for $8,000 IRA Contribution (deductible) Lottery winning ticket Gift from Wilma's brother for their 30th wedding anniversary Larry - Jury duty pay Itemized Deductions Federal Income Taxes withheld from salaries from Forms W-2 Social security (FICA) and Medicare tax withheld 1,000 100 14,700 See W-2s See W-2s Due: 11:59 pm - Monday, September 20, 2021. Late points will be deducted for failure to submit on time (see Course Policies). Do not use a tax software application to complete the return You must submit your assignment via Blackboard. You may scan as one document or attach each form. Each student must individually complete and submit for grading all pages of the tax return. Group efforts are not permitted and will result in a -- for all parties involved. You will be graded on each line item, not on the final answer as far as amount refunded or owed, so mistakes do not compound. F3 F4 F5 Insert Delete PC # $ 3 N space a Employee's social security number 22222 Employer identification number (EIN c Employer's name, address, and ZIP code 132-45-6788 52-8945670 Internal Revenue Service Covington KY 41099 OMB No. 1515-0008 1 Wages, tips, other compensation 30,300,00 3 Social security wages 30 300.00 5 Medicare wages and tips 30, 500,00 7 Social security tips 2 Federal income tax withheld 3065.00 4 Social Security tax withheld 1,891.00 6 Medicare tax withheld 442.25 B Allocated tips d Control number 9 10 Dependent care benefits e Employee's first name and initial Last name Sufl. 11 Nonqualified plans 120 13 SRS Rent Third-party pay 12b Wilma Bronze 2021 main St. Cincinnati OH 45202 14 Other 126 12d f Employee's address and ZIP code 15 State Employer's state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Laciye W-2 Wage and Tax Statement Copy 1-For State, City, or Local Tax Department Form 2020 Department of the Treasury --Internal Revenue Service