A lesson on the basics of how to file taxes if you are new to the process or unsure of what to do. Topics include tax preparation, necessary documents, tax deductions, tax credits, and tax return filing status.
CONCEPTS
Use this video lesson on the topic of taxes. Learn basic tax and related concepts of
- Taxes
- IRS
- Tax filing methods
- Tax preparation
- Filing status
- Deductions and credits
- 1040 form
GRADE LEVEL
9-12th grades. High School. Adult Education.
TIME REQUIRED
45-60 Minutes. It may be necessary to adjust the lesson plan and allocate more or less time to certain topics, depending on the needs and interests of the students.
PROCEDURE
Hand out the worksheet below (see the GET LESSON button near the bottom of the page).
Show students the video and have and have them complete the worksheet. Review the questions on the worksheet. A more comprehensive and detailed lesson plan can be accessed below for further instruction and study.
How to do Taxes – Tax Filing Guide
Lesson Plan: How to File Taxes (Video Lesson)
Objective: Students will understand the process and importance of filing taxes by watching a video lesson, and will learn how to gather necessary documents and determine their filing status by completing a worksheet and participating in a class discussion.
Materials:
- Video lesson on “How to File Taxes” (see above).
- Handouts on types of income forms (W-2, 1099-MISC, 1099-INT, 1099-DIV, 1098E)
- Tax preparation software or online resources
- Worksheet on filing taxes (see below).
Introduction (10 minutes):
Begin the lesson by discussing the importance of taxes and why they are filed.
Ask students if they have any experience with filing taxes or if they have any questions or concerns.
Direct Instruction (10 minutes):
Show the video lesson on “How to File Taxes”
Guided Practice (20 minutes):
Have students complete the worksheet on filing taxes, which will include questions about the types of income forms, how to gather necessary documents, and determining their filing status.
Have students work in pairs or small groups to discuss their answers and provide feedback.
Independent Practice (20 minutes):
Assign students to use tax preparation software or online resources to complete a mock tax return.
Closure (10 minutes):
- Have a class discussion on the key concepts and main takeaways from the lesson and the video.
- Encourage students to ask any remaining questions and address any concerns they may have.
- Remind students of the importance of filing taxes and the consequences of not doing so.
Assessment:
- Review completed worksheets for accuracy.
- Observe students during independent practice to ensure they understand the process of gathering necessary documents and determining their filing status.
- Use formative assessment techniques like oral questions, self-reflection and exit slip to evaluate students’ understanding.
Note: The video length and the duration of the other activities might vary depending on the type of class and students, so adjust the time accordingly.
How to do Taxes
Taxes are something we all have to deal with, whether we like it or not. They’re the money we pay to keep our government running. To get ready for tax season, you’ll need to gather all the necessary paperwork, like your W-2, 1099 forms, and any other documents that show your income and how much taxes have already been taken out. Once you have everything together, you’ll need to figure out your filing status. This will help you figure out what tax rate you’ll be paying and what deductions or credits you’re eligible for. After that, you’ll have to decide how you want to file your taxes. You can use tax software, file a paper return, or hire a professional to do it for you. Once you’ve chosen your method, you’ll fill out the forms, like the IRS 1040 tax form. Before you file, make sure you double-check everything to make sure it’s all accurate and complete. And finally, you can file your taxes electronically or mail it to the IRS.
Money Instructor does not provide tax, legal or accounting advice. This material has been prepared for educational and informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors regarding your own situation. Although the information has been researched and vetted beforehand, it may not be current at the time of viewing.
LESSON WORKSHEET
Worksheet includes multiple choice quiz.
Learning about taxes in my personal finance class was super helpful! We talked about how taxes support the government and went over all the paperwork you need to file your taxes, like your W-2 and 1099 forms. We also discussed different filing statuses and how they affect your tax rate and deductions. It was cool to see how tax software works and the pros and cons of different ways to file. Overall, it was a really practical lesson that made the class feel more prepared for the real world.
What strategies or methods would you use to make a lesson on taxes engaging and practical for students?
That’s a great question! When teaching about taxes, I would start by relating the topic to students’ personal lives and experiences. For example, I might ask them if they have ever earned money from a job or allowance, and if they have ever noticed taxes being deducted from their income. This can help students connect the topic to their own lives and increase their interest in learning more about taxes and money in general.
I would also use a variety of teaching methods to keep the lesson engaging and practical. For instance, I might use visual aids such as diagrams or charts to help students understand the different filing statuses. I might also use real-life examples or some case studies.