


Theme 6: Understanding the IRSLesson 2: Your First Job
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When you have an earned income, it is your responsibility to pay taxes. Federal income tax is most often collected on a pay-as-you-go basis. Employees usually have taxes taken out of, or withheld from, each paycheck that is subject to tax. Some people are exempt from tax withholding.
When you start a new job, your employer will ask you to provide information on Form W-4. This will help your employer determine how much money to withhold from your wages. It is important to fill out your form accurately and completely. After you enter the workforce, it is essential to keep accurate financial records. Two basic systems for recordkeeping are on paper and on a computer.
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materials:![]() Activities
![]() Activity 1: Form W-4 Learn how to find the forms you'll need on the IRS Web site. ![]() Activity 2: Financial Recordkeeping Determine your best financial record-keeping option. ![]() Activity 3: Tax Your Memory Test your tax IQ. Assessment
![]() Complete the assessment page to test your understanding of Your First Job. Links
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quick check |
Why does an employer need a Form W-4 from each employee?
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tax trivia |
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