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.


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 more about taxes, including tax year 2020 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.

 

 

IRS 1040 U.S. INDIVIDUAL INCOME TAX RETURN

How to read the IRS 1040 Tax Return Form Simulation

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

 

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.

 

 


 

 

 

Back to more Earning and Spending Worksheets and Lesson Plans

 

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