TAXES

Lessons and Worksheets

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Do your students understand the concept of taxes and taxation? Use these worksheets, lessons, resources, and activities to help teach your students tax basics.

Lessons may be used to help students understand taxes, why we pay taxes, and how taxes are used, while simultaneously reinforcing basic math and reading comprehension skills.

Includes tax basics such as sales taxes, and continues through paying income taxes. Use these printable tax worksheet,  lessons, and simulations to teach real life basic personal finance concepts and important fundamental money skills.

 

2022 Tax Filing Season

The 2022 tax season will run from Monday, January 24, 2022 to Monday, April 18, according to the Treasury Department and Internal Revenue Service, but be prepared for potentially slow service as the underfunded, understaffed and backlogged IRS juggles another filing season, Treasury officials said.


UNDERSTANDING TAXES

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We spend a large part of our working year just paying for taxes. For most of us, it is a regular part of life and work. We are taxed when we work, and often taxed when we make a purchase. Besides federal income taxes, we have state taxes, personal property taxes, sales taxes, capital gains taxes, and more. When April 15th draws near, and tax returns must be mailed to the Internal Revenue Service, many suddenly wonder what taxes they owe, how much they can deduct, and how can they pay less.

On April 15th, there are three taxes due, depending on the state you live in. These include federal, state, and city taxes. Based on your income for the prior year, you will pay taxes.

Use the following lessons to teach and learn more about taxes, including for filing 2021 taxes, tax year 2022, and later.


Paying Taxes Lessons and Worksheets


 

Credit Card Introduction Lesson Plan PAYING TAXES FOR CHORES

Paying Taxes for Chores

Introductory lesson on taxes with a chores theme. A basic worksheet to help teach young students the concept of paying taxes while practicing basic math.

 

SALES TAX

Discount and Sales Tax Lesson Plan

Students learn about sales tax and discounts. Lesson includes changing percents and calculating total cost. Includes a teaching lesson plan, lesson, and worksheet.

 

Sales Tax Introduction (Level 1)

Worksheet for teaching the concept of a sales tax.

 

Sales Tax Introduction (Level 2)

 

 

INCOME TAX TIME WORD PROBLEMS

Income Tax Time Word Problems

Answer word problem questions with an income tax theme.

 

 

WHAT ARE TAXES VIDEO LESSON

What are Taxes?

Video lesson on the basics of what are taxes, the types of taxes, and how taxes are used.

 

 

IRS 1040 U.S. INDIVIDUAL INCOME TAX RETURN

 

What is the IRS Form 1040?

A short video on what is the IRS 1040 tax form. It is a federal income tax form that people use to report their income to the IRS and claim tax deductions or credits. It is used to calculate your tax refund and tax bill for the year.

 

How to read the IRS 1040 Tax Return Form

Interactive simulation tutorial to learn to read some of the important parts of the income tax 1040 individual tax return.

 

2021 IRS 1040 Tax Return Form for 2022

Interactive simulation tutorial to learn to read the 2021 income tax 1040 individual tax return for the 2022 tax season.

 

How to Fill Out Form 1040

A video lesson on how to fill out 2021 Form 1040 for 2022 taxes. Learn what is the IRS 1040 tax form, and how to fill it out by looking at an example. Form 1040 is the U.S. Individual Income Tax Return. Here we step through some of the more common filled in lines for the the 1040, to help give you an idea of what things you likely will need to fill out, for help preparing your form. Example provided with single taxpayer. Step by step and line by line instructions.

 

Federal Income Tax 1040 Worksheet

Practice filling out and preparing the IRS Federal Income Tax 1040 individual tax return form.

 

Federal Income Tax 1040EZ Worksheet

Practice filling out the Federal Income Tax 1040EZ tax form.

 

 

TAX FORM W-4 LESSON

Tax Form W-4

Practice and learn to fill in the W-4 tax form lesson. The W-4 form is often filled out for new employment (or when your tax situation changes) for determining how much money is withheld for federal income taxes.

 

 

TAX FORM W-2

Reading the Tax Form W-2 Interactive

Learn to read and understand the W-2 tax form interactive simulation.

 

IRS Tax Form W-2

Worksheet and lesson to learn to read the IRS W-2 tax form, a basic wage and tax statement used by employers. Understand reported income and taxes.

 

 

EARNINGS STATEMENT

Earnings Statement

Practice reading an earnings statement, also known as a paycheck or pay stub, and answering related questions. Includes questions regarding Federal, State, social security tax, and other payroll deductions.  Students learn about gross income, net income, and taxable income.

 

 

CLASSROOM ECONOMY

Classroom Economy: Taxes

A lesson on taxes for a classroom economy. Students learn about sales tax, federal and state income tax, and the services that are paid for by tax dollars.

 

 

ADDITIONAL LESSONS

Taxes: Somebody has to pay

A lesson paying taxes.


Taxes: Voluntary Compliance

A lesson about the reasons for paying taxes.


 

 

ADDITIONAL RESOURCES

Understanding Taxes Lesson Plans

IRS website on understanding taxes for teachers.


Explaining Taxes to Students Lesson Plan

Students learn why we pay taxes.


Constitution Costs

This lesson helps students understand the basic services provided for Americans in the United States Constitution and the necessity of a system of taxation to fund those services. Students will debate the pros and cons of having governments fund and provide particular services.


Tic Tac Taxes!

This lesson will assist students in identifying various taxes and the services they help governments provide.


Taxes: Where Does Your Money Go?

This lesson will assist students in identifying various taxes and the services they help governments provide.


Income Taxes

This lesson introduces students to federal and state income taxes, including why we have taxes and what is funded by taxation, average vs. marginal tax rates, taxes and financial (investment) planning, and tax avoidance vs. tax evasion.


No Taxation without Calculation: Filling Out Tax Returns

How much of workers' income goes to taxes? In this lesson, students estimate how much various people would need to earn to cover their expenses, and then take into account their tax burden. After exploring the 1040 form, they work in groups to use mocked-up financial forms to fill out tax returns for taxpayers, then swap with another group to conduct an "audit."


 

 

INFORMATIONAL ARTICLES

A Few Tips for Tax Savings
A few basic tips to help you save money on your tax bill.

 

Tax Savings - The Teacher Tax Deduction
Teachers and other educators should save their receipts for the teacher tax deduction.

 

 


 

 

 

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