TAXES
Lessons and Worksheets
Do your students have a good understanding of taxes and how they work? These educational materials, including worksheets, lessons, and activities, can help you teach your students the fundamental concepts of taxation.
The lessons will not only help students learn about taxes, but they will also improve their math and reading comprehension skills.
These resources cover the basics of taxation, including sales taxes and income taxes, and provide practical examples to help students learn important personal finance skills. Use these printable tax worksheets, lessons, and simulations to teach your students about real-life financial concepts.
2023 Tax Filing Season
Tax filing season in the United States typically starts in late January and ends in mid-April. In 2023, the tax-filing season is scheduled to start on Monday, Jan. 23. This is when individuals and businesses can file tax returns to the Internal Revenue Service (IRS). The exact date for tax filing season can vary depending on many factors, such as when the IRS can begin processing tax returns or when certain tax forms become available.
Tax Refund Update 2023
If you're expecting a tax refund this year and want to learn more about what to expect, we'll provide you with valuable insights about the tax refund process for the 2023 filing season. You'll learn about the average tax refund amount, the timeline for receiving your refund, how to track its progress, and more.
How to File a Tax Extension
In this video, learn how to file a tax extension to get some extra time to prepare your tax documents. You’ll find step-by-step instructions on how to file IRS Form 4868 and tips to use your extension wisely.
Educator Expense Deduction
A teacher's guide to the educator expense deduction. Teachers, generally, may claim the educator expense deduction if they have paid for classroom supplies and other materials from their own pocket during the tax year. Here we review the criteria to be eligible, and what are qualifying expenses.
UNDERSTANDING TAXES
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 about taxes, including for filing 2022 taxes for 2023, and future tax years.
Paying Taxes Lessons and Worksheets
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.
INTRODUCTION TO TAXES | WHY DO WE PAY?
Introduction to Taxes | Why do we Pay?
An educational animated video that makes learning about taxes easy and fun for beginners. Students get a grasp on the fundamentals of taxes and take the first steps towards understanding why we pay taxes with this entertaining and informative lesson. This educational video lesson covers the basics of taxes, how taxes help our communities, why we pay taxes, and the importance of taxes.
SALES TAX
Sales tax is a tax you pay when you buy things like clothes, toys, and food. It's a percentage of the price you pay, and the seller collects the tax and sends it to the government. Sales tax is different in each state and city. It's important to know about sales tax so you can understand how much you're paying for things.
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
Answer word problem questions with an income tax theme.
WHAT ARE TAXES LESSON
Video lesson on the basics of what are taxes, the types of taxes, and how taxes are used.
HOW TO DO TAXES - TAX FILING LESSON
A step-by-step guide on the basics of how to file taxes if you are new to the process or unsure of what to do. It explains tax preparation, necessary documents, tax deductions, tax credits, and tax return filing status. For those first-time filing their taxes or those who want an overview of the process.
Getting Ready for Taxes: Documents you Need
The first step towards filing your tax return is to gather all the documents that you will need. Here, students learn a checklist of what documents, paperwork, and receipts are needed to file your income tax return, including the W-2 and 1099. Includes video lesson and worksheet.
Filing taxes and navigating the complexities of the tax code can be overwhelming. In this video, we’ll share some tips to help you make the most of filing your tax return. Using this as a warm-up or lesson starter is an effective way to engage students in a practical and relevant topic that directly affects their lives.
IRS 1040 U.S. INDIVIDUAL INCOME TAX RETURN
The Form 1040 is the standard tax form used by individuals to file their annual income tax returns with the Internal Revenue Service (IRS). It requires taxpayers to report their total income for the year, claim any deductions or credits they are eligible for, and calculate their tax liability. The form is used to determine whether a taxpayer owes more taxes or is due a refund. Filing a complete and accurate Form 1040 is important to avoid penalties or interest charges from the IRS.
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.
A video lesson on how to fill out Form 1040. 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.
How to Fill Out 2022 Form 1040 for 2023
Learn how to correctly fill out the 2022 IRS Form 1040 for the 2023 tax year. This guide includes an overview of the Form 1040 and step-by-step instructions for completion. Updated for filing the 2022 tax return. Learn the basics of the by examining a step-by-step example of a single taxpayer’s form with no dependents. Understand how to fill out the form line by line, including information on the standard deduction, tax tables, tax bracket calculations, and more. This guide provides clear instructions and an example form. Includes information on filing, deductions, exemptions, tax credits, tax liability, wages, earned income, interest income, capital gains, taxable refund, and taxable payments.
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
The W-4 tax form (W4) is a document that employees fill out to provide information to their employers about how much federal income tax should be withheld from their paychecks. It includes details such as the employee's filing status, allowances, and additional amounts to be withheld. Keeping the W-4 form up-to-date is important to ensure accurate tax withholding.
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.
How to Fill Out an IRS W-4 Form Lesson
In this lesson students will learn how to fill out a W-4 form, an important document for your employment paperwork. You’ll learn about the different sections of the form, such as personal information, dependents and other credits, and adjustments to your tax withholding, as well as the importance of updating it when your tax situation changes.
TAX FORM W-2
A W-2 tax form is a document provided by an employer to an employee at the end of the year, which reports the employee's total earnings and the taxes that were withheld from their paychecks throughout the year. The form contains important information such as the employee's Social Security number, employer identification number, and details about any pre-tax deductions or benefits received. The employee uses the W-2 form when filing their personal income tax return with the IRS.
How to Read Your W-2 Tax Form Lesson
In this instructional video lesson, students will learn about the W-2 tax form from the IRS, which is an important document required for filing your taxes that you receive from your employer. Step by step walk-through of the different boxes and sections of the W-2 form that provide information about your earnings and taxes withheld by your employer during the previous year.
Reading the Tax Form W-2 Interactive
Learn to read and understand the W-2 tax form interactive simulation.
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
An earnings statement, also known as a pay stub, is a document that employers provide to employees each pay period. It contains details about the employee's gross pay, net pay, and any deductions or withholdings taken from their paycheck. The statement may also include information about the employee's hours worked, pay rate, and any bonuses or benefits received. Earnings statements help employees track their income and understand how their pay is calculated.
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 is an educational approach that involves creating a mini-economy within a classroom. Students earn "classroom currency" for completing tasks, exhibiting positive behaviors, or achieving academic goals. They can then use the currency to purchase items or privileges in the classroom, such as pencils, erasers, or extra computer time. Classroom economy teaches students valuable lessons about financial literacy, decision-making, and responsibility. It can also help improve classroom behavior and engagement.
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
A lesson paying taxes.
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.
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.
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.
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.
ADDITIONAL TAX RESOURCES
For additional help with taxes we suggest using TurboTax. (This is an affiliate link and we may receive compensation if you use this service, at no additional cost to you. We appreciate your support, as it helps us create more content for you.)
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