Filing Income Tax Unit | Overview, Examples and Project | Form 1040

The objective of this lesson is to teach high school students about income taxes, including what they are, how they are calculated, and why they are important.

By the end of the lesson, students will have a strong understanding of what taxes are and how to file them using Form 1040.

Included:

• 3 handouts (Types of income, Calculating income taxes and Filing income taxes).
• Introduction to tax brackets.
• Simulation project (details below).
• Answer keys.

Simulation project: A handout with example data on an individual including things such as filing status and income is provided. Students then use the information for the individual and fill out a Form 1040. (A blank copy of a Form 1040 as well as a completed Form 1040 are provided).

This is a great opportunity to allow students to fill out a tax form, preparing them for their lives outside of the classroom!