Want to Better Understand Federal Income Taxes?


The IRS has created a very informative website dedicated to helping all citizens understand taxes. Designed as an aid to students, the site is actually excellent for all tax payers. It contains a set of 38 Understanding Taxes student lessons. The lessons have something for everyone. In fact, we think that even seasoned tax payers will find at least three things they didn’t know.

The lessons are divided into two content areas: the “How’s” and the “Whys” of Taxes. The How’s shows you how to apply tax principles, while the Whys explains tax history and theory.

The web pages are also divided into four “applications”, ways you can apply what you are learning:

Activities
Balance the national budget, take virtual field trips, discover how your tax dollars are spent, and lobby for a cause you choose from a variety of interactive tax activities.

Tax Tutorials
Who qualifies as a dependent? What is an exemption? How do you report interest from a Form 1099? These 14 tax tutorials will guide you through the basics of tax preparation, giving you the background you need to electronically file your tax return.

Simulations
Apply what you’ve learned by putting yourself in the shoes of 20 different taxpayers while you explore the ins and outs of filing tax returns electronically!

Assessments
Evaluate your comprehension by testing your knowledge. These assessments will provide you with immediate test results.

So, what are you waiting for? Start learning the “how’s” and “whys” of taxes.

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