Quiz Time: How Well Do You Know Your IRS Tax Forms?

It’s W-2 season! W00T!

I don’t know about you, but we love to geek out about  how crazy and complex the U.S. tax code has become. Did you know there are now more than 800 different tax forms? Well, here’s your chance to prove just how well you know your IRS tax forms.

You can check your answers at the end of this blog post. But don’t cheat.

First Some Easy Ones

1. Employers use this form to report employees’ annual earnings and taxes withheld for the year. Copies are sent to the IRS, the employees, and any states for which state taxes were withheld. Have over 250 employees? You’re required to file this form electronically.

2. This annual statement is sent to investors by financial institutions to report income from distributions and dividends, including capital gains dividends and exempt-interest dividends of more than $10.

3. This tax form is used to show distribution from retirement accounts, including IRAs, pensions, annuities, SEPs, and SIMPLE Plans. What tax form is this?

Now A Little Harder

4. This form summarizes all information that is physically mailed to the IRS and accompanies Forms 1097, 1098, 1099, 3921, 3922, 5498, or W-2G. If you’ve joined the 21st Century and file electronically with the IRS, this form is not required.

5. This IRS tax form is often the only publicly available source of financial information about a nonprofit organization. It is used to prevent organizations from abusing their tax-exempt status.

6. This form (and it’s EZ “short form”) is used by nonresident aliens with a U.S. source of income who must file a U.S. tax return. Couples are not permitted to file jointly.

Now Crazy Hard

7. Members of the public or press can file this form with the IRS to request a copy of the tax forms filed by a tax-exempt or political organization.

8. This IRS tax form is used by nonresident aliens to claim exemption from withholding on compensation for (often “freelance’) services because of an income tax treaty or the personal exemption amount.

9. Last one! This very popular IRS tax form is used to request an extension of time to file a federal tax return. Sadly, there is no extension to pay the tax you owe. (OK, this one isn’t so hard.)

Here Are The Answers

Shame on all you cheaters who skipped down to the end!

1. W-2 (duh)
2. 1099-DIV
3. 1099-R
4. Form 1096
5. Form 990
6. Form 1040NR (and Form 1040NR-EZ)
7. Form 4506-A
8. Form 8233
9. Form 4868

How’d you do? Do you know your IRS tax forms?