There’s more to know about taxes than that they are just taken out of your paycheck!
Taxes are taken from your gross pay to pay for things like roads, first responders, and public schools. You may benefit now from paying these taxes.
Your Medicare and Social Security taxes help pay for health care and living costs for citizens who are retired or disabled. You may benefit now or later from paying these taxes.
You’ll need to file your taxes each year to make sure that you’ve paid the right amount. If you paid too much in taxes during the past year, you’ll get a refund. If you’ve paid too little in taxes, you’ll owe the IRS money.
Learn more about how to file for specific tax situations by helping a character prepare their own taxes. Select a tax simulation to begin!
Click the Filing Your Taxes simulation to begin. Once you have completed the first simulation, select one or more of the remaining simulations to explore how different life situations can impact your taxes.
Filing Your Taxes
Tax Credits for Families
Taxes for Gig Workers
Taxes for Students
Taxes for Investments and Cryptocurrency
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