Understanding the W2 | Baamboozle - Baamboozle | The Most Fun Classroom Games!

English 10 Public

NGPF Tax Unit

Study Slideshow

What percent of borrowers have a car payment of $1,000 or more?

76.8%

16.8%

6.8&

36.8%

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What is a W2?

A form generated by an employer to provide information about wages, taxes witheld, and other information for the purpose of filing taxes

15

You will not receive a W-2 from an employer who has paid you less than $600 per year

False

True

15

Copies of the W-2 are also sent to the state and federal governments.

True

Fale

15

Your Social Security Number will not be printed on your W-2.

True

False

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Box 1 does not include any money deducted from your paychecks for benefits such as healthcare and retirement.

True

False

15

Bos 2 shows Federal Income tax withheld, which is used for your local government..

False

True

15

Medicare benefits generally start when you turn 65.

True

False

15

You can collect full social security benefits when you turn 55.

False

True

15

If you work for an employer, you and your employer each pay a 6.2% Social Security tax on up to $168,600 of your earnings.

True

False

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