For what minimum period of time must a tax return preparer make a client taxpayer's e-file sign A. Until the end of the calendar year B. For three years c. For five years D. For seven years
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For what minimum period of time must a tax return preparer make a client taxpayer's e-file sign A. Until the end of the calendar year B. For three years c. For five years D. For seven years
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- For the tax year 2021-22, what is the deadline to file a self-assessment tax return if submitted manually? 31 January 2022 31 January 2023 31 October 2022 6th April 2023When a change in anticipated tax occurs because of personal circumstances, when should an employee provide a new Form W-4, Employee's Withholding Certificate? By January 15th of each year. By December 31st of each year. Within ten days after the change occurs. Within sixty days after the change occurs.Identify in which situation income was constructively received in 2022. Situation A taxpayer received a check on December 31, 2022. Deposited the check to their bank account on January 1, 2023. A taxpayer sold their home on December 20, 2022. Payment was received from the escrow company on January 5, 2023. A taxpayer's employer offers the taxpayer the option to receive their year-end bonus on either December 15, 2022 or January 15, 2023. The taxpayer chooses to defer it to January 15, 2023. A taxpayer who performs consulting services was informed by a client that a check for services they had performed was ready to be picked up on December 15, 2022. However, the taxpayer was on vacation and unable to pick it up until January 3, 2023. Was income constructively received? (Yes/No)
- If an individual taxpayer is unable to file a tax return by its original due date, the tax payer can be request an automatic 9 month extension to file the return. True or False?When is an individual's tax year end? Question 6 options: a) Calendar year end b) Quarterly year end c) Semi-annual period end d) Every 9 month endFor tax year 2020, the due date for filing paper forms with the SSA is: a. December 31 b. January 31 c. February 28 d. January 15
- The deadline to file a gift tax return is December 31 of the year after the calendar year in which the gift is made. True FalseA taxpayer received a notice from the BIR to file his 2019 income tax return not later than January 15, 2021. The tax due per his return is P80,000. How much is the surcharge penalty? a. P9,600 b. P20,000 c. P40,000 d. P16,000 e. Answer not givenWhich of the following forms is typically given to employees at the end of the calendar year so that employees can file their individual income tax forms? a. Employer’s Quarterly Federal Tax Return (Form 941) b. 401k plans c. Wage and Tax Statement (Form W-2) d. Employee’s Withholding Allowance Certificate (W-4)
- In the filing of income tax returns for non-individual taxpayers (assuming the taxpayer employs calendar year), which is TRUE in terms of deadline? 1st statement April 30 August 29 November29 Apr 15 2nd statement 60 days after qtr 60 days after qtr 60 days after qtr Apr 15 a. Only the 1st statement is true b. Only the 2nd statement is true c. Both of the statements are true d. Both of the statements are falsea. Compute the deferred tax expense and the balance of the deferred tax account for each year. b. Prepare all journal entries required to record Ashford's income tax provision for all 3 years.Although you should generally keep tax records for 3 years from the date you file your return, you may be held responsible for providing back documentation up to: Multiple Choice 3 years 4 years 5 years 6 years 10 years