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Financial Literacy in Action
Teaching Plan: Activity #6 Taxes

Focus question:
How important is it that we file our taxes correctly and on time?

Introduction:
From the "Getting Started" page, ask the class to access p.2, "Introduction." Have students answer the following:

  • What is happening in this cartoon?
  • Explain the meaning of the caption, “We just want an endless supply of crops. We don’t want to have to pay for the water and seeds.”
  • How valid is the cartoonist’s view about taxpayers?
  • Why do so many taxpayers file incorrectly and late?
  • What questions does this raise for us to consider? (How important is it that we file our taxes correctly and on time?)

Discussing the activity
Ask the class to access p. 3, "Objectives." Have students answer the following:

  • Based on the objectives on this page, what will you be learning from this activity?
  • Which of the objectives interests you most?
  • If we had an expert with us in class today, what questions would you ask about taxes?

Ask the class to access p. 4, "Projects." Explain that in this activity they will be required to complete a project about the topics referred to in the objectives. After that, they will have a chance to show what they have learned by 1) teaching a lesson 2) writing a brief chapter in a textbook or 3) creating a multiple choice test. Have students explain their answers to the following questions:

  • What do you know about the components of a good lesson?
  • What do you know about the qualities of a well designed textbook?
  • What do you know about the features of a valid multiple choice exam?

Discuss with the class your specifications and expectations for the projects, including deadlines, criteria for grading their lessons, textbook chapters, and multiple choice tests, and format.

Explain to students that most of the information for their projects should come from reading the tutorials. Divide the class into five groups. Assign each group a different one of the following pages and related websites to read: p. 9, "Basic ideas about taxation and how the public benefits from taxes." p.10, "Taxes and your pay", p. 11, "Your income tax return", p.12, "Ten things college students should know about taxes", and p.5, "More Information About Insurance".

After their reading, have the students explain their answers to the following questions:

  • What information did you find on the pages and websites you read?
  • Discuss one important thing that you learned about taxes that you didn’t know before.
  • What questions do you have about completing your project?

Summary:
Ask students to explain their answers to the following question:

  • What do you hope to learn by completing this project?