Ruby entered a combat zone March 3, 2022, before she had an opportunity to file her 2021 income tax return. Ruby left the combat zone Sept. 2, 2023. What is the due date for Ruby's 2021 Form 1040? OA. April 15, 2022 OB. Oct. 15, 2022 OC. Jan. 15, 2024 OD. May 14, 2024
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- Shanna, a calendar year and cash basis taxpayer, rents property to be used in her business from Janice. As part of the rental agreement, Shanna pays 8,400 rent on April 1, 2019, for the 12 months ending March 31, 2020. a. How much is Shannas deduction for rent expense in 2019? b. Assume the same facts, except that the 8,400 is for 24 months rent ending March 31, 2021. How much is Shannas deduction for rent expense in 2019?Annie files her 2020 tax return on April 15, 2021. On what date will the Statute of Limitations on Assessment expire? O April 15, 2022 April 15, 2023 April 15, 2024 O April 15, 2027X file his annual ITR on February 2019. On May 2020, he received a notice of assessment from BIR for under payment of taxes. Thus, X file an amended ITR of 2018 due to notice from BIR. Decide. a. X cannot file an amended ITR. b. X may file an amended or answer the notice of assessment from BIR c. X must file a new ITR and pay the correct taxes d. X must file an appeal in court e. None of the above
- Seun started his self-employment on 1 July 2020, he prepared the first period of accounts to 31 December 2021. What tax year will be his first tax year? 2020/2021 2021/2022 2019/2020 2022/202324. In 2020, Katrina filed her 2019 Form 1040. She mailed her extension on March 15 certified mail. The return receipt shows the IRS received it April 14. She mailed her return on October 1 certified mail. The return receipt shows the IRS received it October 21. Assume she filed a valid and true return. When was Katrina’s return filed? Select one: a. April 14 b. April 15 c. October 1 d. October 15 e. October 211. A taxpayer forgot to file and pay his annual income tax return for the year 2019. He only recalled it when he received a notice of assessment from the BIR on June 15, 2020 obliging him to pay on June 30, 2020. He filed it only on August 15, 2020. In computing the interest, when should he start counting the number of days of delinquency? A. December 31, 2019 B. April 15, 2020 C. June 15, 2020 D. June 30, 2020 2. X died leaving his surviving spouse, legitimate child, recognized illegitimate child, and parents. Who inherits from X? a. Surviving spouse and legitimate child only b. Surviving spouse, legitimate child, and parents c. Surviving spouse, legitimate child, and recognized illegitimate child d. Legitimate child only 3. In donor’s taxation, which is not considered in determining the taxability of donation? A. Tax classification of the donor B. Location of the property C. Relationship of the donee to the donor D.…
- Maryann filed her Income Tax Return for taxable year 2021 on May 2, 2022. After aninvestigation, it was discovered that the tax paid was deficient. The last day for the BIR to sendan assessment is?Miss Mazibuko’s assessment for the year ended 28 February 2021 shows a taxable income of R 120 000. The 2021 assessment was received at the end of January 2022 and the 2022 assessment has not been issued by SARS. She provided you with a payslip which indicates employees’ tax withheld by her employer of R 4 000. Her income is estimated to be R 100 000 for the 2023 year of assessment. Calculate the first provisional tax payment that she needs to make to SARS for the 2023 year of assessment. (NB: No spaces, no Rand sign required and round off to the nearest Rand if applicable).Eleanor (single) requested an extension to file her 2021 return and comes into the office on October 15, 2022. She has an IRA, turned 72 in November of 2021, and is aware that she was supposed to have taken a required minimum distribution (RMD) in 2021. She did not get anything from the trustee and has not taken a distribution yet. She brings in the following information: Year-end value on 12/31/2019, $78,772. Year-end value on 12/31/2020, $85,991. Year-end value on 12/31/2021, $91,312. How much is the penalty on her 2021 return if she does not request a penalty waiver? $1,680 $1,783 $3,359 $3,567
- Anna paid her income tax on June 20, 2019. She filed a claim for refund on May 2, 2020and received the Commissioner’s decision denying her claim on May 31, 2021 1) suppose the two period is about to lapse but she has not yet received the Commissioner’s decision on her claim what action should be taken by Anna?Ms. White has net tax owing for 2017 of $4,500, net tax owing for 2018 of $8,000, and estimated net tax owing for 2019 of $7,500. If she wishes to pay the minimum total amount of instalments for the 2019 taxation year, her first payment on March 15 will be for what amount? Nil. $1,125.00 $1,875.00 $2,000.00When is the filing deadline for an individual taxpayer who has no partnership or sole proprietor business income to file in 2021? Question 16 options: a) June 30, 2022 b) December 30, 2021 c) February 28, 2022 d) April 30, 2022
