Which of the following statements is the most correct regarding The Taxpayer Bill of Rights? a.It states that a taxpayer is responsible for payment of only the correct amount of tax due, no more, no less. b.It explains the examination, appeal, collection, and refund process. c.It directs taxpayers to other IRS publications with more details on specific taxpayer rights. d.All of these statements are correct. e.None of these statements are correct.

When a petition is filed with the Tax Court, the taxpayer is required to pay the deficiency only if he loses, not before. (True/False)

In what circumstances can a taxpayer challenge an assessment outside the ordinary appeal process. Discussion should be strictly based on statutory and common law. Explain briefly.

Which of the following statements about the Commissioner’s powers is most correct?   a. The Commissioner cannot request a taxpayer to provide information in writing.   b. The Commissioner can remove documents from a taxpayer’s premises.   c. The Commissioner is entitled to access a taxpayer’s premises at any reasonable time without notice.   d. The Commissioner needs to obtain a search warrant in order to enter a taxpayer’s premises.

Explain one difference between the W2 and 1099 tax forms.Describe one consequence of filling out the wrong tax form.Describe the difference between “federal income taxes withheld” and “income tax liability”.

The IRS does not have the authority to: a.Summon taxpayers to make them appear before the IRS. b.Summon third parties for taxpayer records. c.Examine a taxpayer's books and records. d.Place a lien on taxpayer property. e.The IRS has the authority to do all these.

Which of the following statements is incorrect with respect to determining E&P? All tax-exempt income should be added back to taxable income. Dividends received deductions should be added back to taxable income. Charitable contributions in excess of the 10% taxable income limit should be subtracted from taxable income. Federal income tax refunds should be added back to taxable income. None of the above statements are incorrect MY ANSWER: 5. None of the above. Reasoning: All the above statements are correct with regard to the calculation of current E&P. E&P is the ability of the company to pay dividends to its shareholders. Am I correct? If not, please explain. Thank you in advance!

Indicate whether the following statements are "True" or "False" regarding the administrative powers of the IRS. a.   If the taxpayer meets the record-keeping requirement and substantiates income and deductions properly, the IRS bears the burden of proof in establishing a tax deficiency during litigation.   b.   The Code permits the IRS to assess a deficiency and to demand payment for the tax. However, no assessment or effort to collect the tax may be made until 30 days after a statutory notice of a deficiency (a 30-day letter) is issued.   c.   If the taxpayer neglects or refuses to pay the tax after receiving the demand for payment, a lien in favor of the IRS is placed on all property (realty and personalty, tangible and intangible) belonging to the taxpayer.

Please share an exclusion from gross income. Describe the exclusion along with the section of the IRS code that pertains to the exclusion. Please also state whether the exclusion is unlimited or capped at a certain amount.

Which of the following statements best describes the anti-avoidance provision in Part IVA of the ITAA 1936?   a. Voluntary disclosure of tax avoidance, the non-lodgement of the income tax return, and tax evasion.   b. Fraud, non-disclosure, and non-lodgement of an income tax return.   c. A financing arrangement, a deduction, and tax evasion.   d. A scheme, a tax benefit, and has the dominant or principal purpose of obtaining a tax benefit.