REFERENCE: Tax Preparation Checklist for Teens
What do you need to file your taxes? Review this handy list of items you will need to fill out the 1040 form. Check off the items you’re confident you will have ready. Take note of any items you’re unsure or have any questions about.

VIDEO: Ways to File Your Taxes           
Once you’ve gathered everything you’ll need, you have a few different options to choose from in how to prepare and submit your taxes. Watch this video to learn more about the three most commonly used options. Then, answer the questions on your worksheet.

VIDEO: What’s a W-2 Form?                
The W-2 form contains some of the most crucial information you’ll need to prepare your taxes. Watch this video to learn why it’s so important. Then, answer the questions on your worksheet.

ARTICLE: State Income Tax Rates: What They Are and How They Work

In the previous resources you’ve learned that in addition to federal income taxes, states can also withhold income taxes from your earnings. Review the sections States With No Income Tax, States With Flat Income Tax Rates, and States With Progressive Tax Structures to learn more about how different states handle income taxes. Then, answer the questions.

LEARNING TARGETS:

• I can identify the different forms needed to prepare their taxes.
• I can compare different methods of preparing federal and state taxes.
• I can analyze a W-2 form.
• I can describe the difference between a flat and progressive tax rate.