Prepare Form 1040 plus all appropriate schedules and worksheets for Carl and Elizabeth Williams for 2021.

Carl and Elizabeth Williams are married filing jointly, They are 45 and 40 years old, respectively. Their address is 19010 NW 135th Street, Miami, FL 33054. Additional information about Carl and Elizabeth Williams is as follows:

Carl's SSN: 412-34-5670

Carl's date of birth: 07/13/1976

Carl's occupation: Sales Manager

Elizabeth's SSN: 412-34-5671

Elizabeth's date of birth: 09/19/1981

Elizabeth's occupation: Office Clerk

Tax Return Documents:

Form W2 - Carl Williams Download Form W2 - Carl Williams

a Employees social security number OMB No. 1545-0008 Safe, accurate, FAST! Use Visit the IRS website at www.irs.gov/efile b Employer identification number (EIN) c Employers name, address, and ZIP code d Control number e Employees first name and initial Last name Suff. f Employees address and ZIP code 1 Wages, tips, other compensation 2 Federal income tax withheld 3 Social security wages 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld 7 Social security tips 8 Allocated tips 9 10 Dependent care benefits 11 Nonqualified plans 12a See instructions for box 12Co d e 12bCo d e 12cCo d e 12dCo d e 13 Statutory employee Retirement plan Third-party sick pay 14 Other 15 State Employers state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Form W-2 Wage and Tax Statement 2021Copy BTo Be Filed With Employees FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. Department of the TreasuryInternal Revenue Service

Form W2 - Elizabeth Williams Download Form W2 - Elizabeth Williams

a Employees social security number OMB No. 1545-0008 Safe, accurate, FAST! Use Visit the IRS website at www.irs.gov/efile b Employer identification number (EIN) c Employers name, address, and ZIP code d Control number e Employees first name and initial Last name Suff. f Employees address and ZIP code 1 Wages, tips, other compensation 2 Federal income tax withheld 3 Social security wages 4 Social security tax withheld 5 Medicare wages and tips 6 Medicare tax withheld 7 Social security tips 8 Allocated tips 9 10 Dependent care benefits 11 Nonqualified plans 12a See instructions for box 12Co d e 12bCo d e 12cCo d e 12dCo d e 13 Statutory employee Retirement plan Third-party sick pay 14 Other 15 State Employers state ID number 16 State wages, tips, etc. 17 State income tax 18 Local wages, tips, etc. 19 Local income tax 20 Locality name Form W-2 Wage and Tax Statement 2021Copy BTo Be Filed With Employees FEDERAL Tax Return. This information is being furnished to the Internal Revenue Service. Department of the TreasuryInternal Revenue Service

Form 1099-Int Download Form 1099-Int

PAYERS name, street address, city or town, state or province, country, ZIP or foreign postal code, and telephone no. PAYERS TIN RECIPIENTS TIN RECIPIENTS name Street address (including apt. no.) City or town, state or province, country, and ZIP or foreign postal code FATCA filing requirement Account number (see instructions) Payers RTN (optional) 1 Interest income $ 2 Early withdrawal penalty $ 3 Interest on U.S. Savings Bonds and Treas. obligations $ 4 Federal income tax withheld $ 5 Investment expenses $ 6 Foreign tax paid $ 7 Foreign country or U.S. possession 8 Tax-exempt interest $ 9 Specified private activity bond interest $ 10 Market discount $ 11 Bond premium $ 12 Bond premium on Treasury obligations $ 13 Bond premium on tax-exempt bond $ 14 Tax-exempt and tax credit bond CUSIP no. 15 State 16 State identification no. 17 State tax withheld $ $

Carl and Elizabeth also received tax-exempt interest income of $500, as well as $45 for jury duty. Carl went to court to serve for a few days. Carl also received two weeks of workers' compensation pay for a total of $3,100.

They have one (1) dependent son, Carl Williams, Jr., who is 7 years old. His date of birth is 3/25/2014. His social security number is 412-34-5672.

Instructions:

Prepare Form 1040 plus all appropriate schedules and worksheets for Carl and Elizabeth Williams for 2021. They are entitled to a $3,000 child tax credit (we will discuss this credit in more detail later). For now, enter the credit on the appropriate line on the form. They do not want to contribute to the presidential election campaign. Both Carl and Elizabeth had qualifying health care coverage at all times during the tax year.

Also, include your own calculation of the tax. It may be off a few dollars due to rounding, but we should be able to confirm the tax calculated by software.