Income Tax Fundamentals 2020
38th Edition
ISBN: 9780357391129
Author: WHITTENBURG
Publisher: Cengage
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Chapter 12, Problem 15MCQ
To determine
Introduction: The Internal Revenue Service (IRS) has a wide range of functions and responsibilities such as look after of administration of federal taxes, and to perform duties like estimating, determining, and collecting taxes in the form of revenue to the government, it also performs tax return audits and imposes penal provisions. It is the office within the revenue department. The task of the department is to provide the taxpayers with quality service by assisting them in proving knowledge content so the taxpayers understand their tax responsibility and pay taxes timely. It is important in maintaining and establishing tax laws.
To choose: Furnishing information to the taxpayer by the IRS is not required in which of the option.
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If a calendar year taxpayer's 2021 individual income tax return is mailed on June 15, 2022, the statute of limitations would normally run out on:
Oa. June 15, 2025
Ob. June 15, 2024
Oc. April 15, 2025
Od. April 15, 2024
Oe. None of these choices are correct.
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 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.
Chapter 12 Solutions
Income Tax Fundamentals 2020
Ch. 12 - Which of the following is a responsibility of a...Ch. 12 - Prob. 2MCQCh. 12 - Prob. 3MCQCh. 12 - Prob. 4MCQCh. 12 - Prob. 5MCQCh. 12 - Prob. 6MCQCh. 12 - Prob. 7MCQCh. 12 - Prob. 8MCQCh. 12 - Prob. 9MCQCh. 12 - Prob. 10MCQ
Ch. 12 - Prob. 11MCQCh. 12 - Prob. 12MCQCh. 12 - Which of the following have privileged...Ch. 12 - Prob. 14MCQCh. 12 - Prob. 15MCQCh. 12 - Prob. 16MCQCh. 12 - Prob. 17MCQCh. 12 - Taxpayers have the right to have an IRS...Ch. 12 - If a U.S. Tax Court agrees with the taxpayer on...Ch. 12 - If the IRS owes a taxpayer a refund, the law...Ch. 12 - Prob. 21MCQCh. 12 - Melodie's taxable income is $39,000 and she pays...Ch. 12 - Jim has a house payment of $2,000 per month of...Ch. 12 - Indicate which of the following statements are...Ch. 12 - Prob. 2PCh. 12 - Prob. 3PCh. 12 - In the 2019 tax year, Michelle paid the following...Ch. 12 - Prob. 5PCh. 12 - Prob. 6PCh. 12 - Prob. 7PCh. 12 - Prob. 8PCh. 12 - Prob. 9PCh. 12 - Prob. 10PCh. 12 - Prob. 11PCh. 12 - Prob. 12P
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