Question
Read the following scenario before beginning the assessment. Then complete the two parts below. Your relatives, Jacob and Taylor Weaver, have asked for your help
Read the following scenario before beginning the assessment. Then complete the two parts below.
Your relatives, Jacob and Taylor Weaver, have asked for your help in completing their tax return, because they know you took an income tax course at Capella. You caution them that while you plan oneventually becoming an accountant, you are no expert. You agree to informally assist them with basic information gleaned from the IRS Web site. At least you know how to find information.
John Weaver, Jacob and Taylor's son, is a high school graduate (born 12/2/1998), lives at home, and works part-time at a service station, saving money for college. In 2018, he earned $5,242.00, as reported on his W-2 form. Federal taxes withheld were $940; state taxes withheld were $179.
He does not know his filing status, or if he even has to file a tax return. He is covered by his parents' health insurance. His father thinks he can claim John as a dependent. John has no other income. John's Social Security number is 123-45-6789. His address is 1234 Happy Lane, Happytown, MN 50000.
Part 1: Provide evidence of requirements for John's tax return from an official primary resource.
Use IRS.gov and the IRS Interactive Tax Assistant and Tax Trails tools, linked in the Resources under the Required Resources heading, to find answers to the following tax questions. Copy and paste answers to these questions from the IRS resources into a Word document for submission.
What is John's filing status?
Is John required to file a tax return? Determine requirements for mandatory filing of a return.
Is John a dependent?
What is the simplest tax form to use for John? Use information from an official primary source to select a tax form.
How much would John have to pay to file his return electronically?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started