Which of the following taxpayers is required to file a form 8862 to claim certain credits after disallowance?
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Which of the following taxpayers is required to file a form 8862 to claim certain credits after disallowance?
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- Question 3 of 15. A taxpayer must file Form 8862 to claim certain credits after disallowance by the IRS. Which credit is affected by this requirement? Adoption Credit. Child and Dependent Care Credit. Earned Income Credit. Residential Energy Credit. Mark for follow upWhich of the following is NOT a valid use of Form 990-T? Request credit for certain excise taxes paid. Apply for reinstatement after an exempt organization has their status revoked. Claim the Small Employer Health Insurance Premium Tax Credit. Determine tax liability from UBI.Briefly explain each filing status. How does filing status affect who must fileincome taxes? How does filing status affect the standard deduction amount?
- Which of the following cannot claim Input VAT as a deduction against the Output VAT when computing for the VAT payable? a.) VAT-Registrable Taxpayers b.)Mandatory VAT Taxpayers c.)Non-VAT Taxpayers d.)Voluntary VAT Taxpayerscan you help me how to Explain how an employer can receive a credit against the FUTA tax due.Explain when a full tax invoice and an abridged tax invoice is required?
- Which of the following is correct? a. A person with vatable sales or receipts not exceeding the VAT-threshold may register as non-VAT taxpayer. b. A person with vatable sales or receipts not exceeding the VAT-threshold may register as VAT taxpayer. c. A person who commences business with an expectation to exceed the VAT-threshold may register as VAT taxpayer. d. All of the aboveWhen applying credits against a taxpayer's gross tax liability, nonrefundable personal credits are applied first, then business credits, and finally refundable personal credits. True or FalseWhich of the following statements are correct? i. A VAT invoice should be pre-numbered and must show the: - Words “Tax Invoice” (shown prominently) ii. A VAT invoice should display the total amount of the consideration and the VAT. iii. A VAT invoice should display the name and address of the registered taxpayer to whom the taxable supply is made. iv. A VAT invoice should display the date of the taxable supply. a.All of the above b.i, ii and iv c.i, and iii d.i only
- Which of the following statements are correct? i. A VAT invoice should be pre-numbered and must show the: - Words “Tax Invoice” (shown prominently) ii. A VAT invoice should display the total amount of the consideration and the VAT. iii. A VAT invoice should display the name and address of the registered taxpayer to whom the taxable supply is made. iv. A VAT invoice should display the date of the taxable supply. a. All of the above b. i, ii and iv c. i only d. i, and iii12. A taxpayer is required by law to provide the payer's name, address, & tax identification number on a separate summary sheet attached to Schedule B when reporting interest from which of the following sources on their return? a. Nominee distribution. b. Seller-financed mortgage. c. Frozen deposit. d. Certificate of deposit.alculator Which of the following is not a preparer penalty? a.Tax preparers may be assessed a penalty for endorsing or cashing a refund check issued to a taxpayer. b.Tax preparers may be assessed a penalty for failing to give the taxpayer the preparer's workpapers. c.Tax preparers may be assessed a penalty for failing to keep a copy of the prepared return. d.Tax preparers may be assessed a penalty for failing to sign a tax return.