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Required: Tax questions for the IRS (www.irs.gov or 800-829-1040) – Be careful! Make sure your information is current! 1) What are the maximum amounts that can be contributed to a Traditional IRA, Roth IRA and 401(k) per year? 2) What is the maximum amount of capital loss that can be deducted from your income taxes per year? 3) How long is the extension of time to file your income taxes that Form 4868 gives a taxpayer? 4) What percentage(s) of the estimated taxes should an individual taxpayer pay through withholding? Careful! 5) What are the names of the 2 or 3 types of educational tax credits available to college students & their parents? (5 points) – When researching the above questions, make sure you find the data for 2015!
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