Multiple Choice
Based on the W-2 provided, Lily paid Indiana a state income tax rate of ____.
18
views
1. Introduction to Accounting
Useful Information
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
In order to fill out the W-4 form, Maxwell needed to know all of the following information EXCEPT:
A
His previous year's total tax refund
B
His Social Security number
C
His marital status
D
The number of allowances he is claiming
Verified step by step guidance1
Understand the purpose of the W-4 form: The W-4 form is used by employees to inform their employer of their tax situation, including marital status and allowances, so the employer can withhold the correct amount of federal income tax from their paycheck.
Review the required information for filling out the W-4 form: Typically, the form requires details such as the employee's Social Security number, marital status, and the number of allowances or dependents they are claiming.
Identify the information that is NOT required: The W-4 form does not ask for the previous year's total tax refund. This information is irrelevant to the calculation of current tax withholding.
Compare the options provided in the question: Match each option against the required information for the W-4 form to determine which one is unnecessary.
Conclude that the correct answer is 'His previous year's total tax refund,' as it is not needed to complete the W-4 form.
3:16mWatch next
Master Fundamental Qualitative Characteristics with a bite sized video explanation from Brian
Start learningRelated Videos
Related Practice
Useful Information practice set
Problem sets built by lead tutorsExpert video explanations