Income Tax Fundamentals 2020
38th Edition
ISBN: 9780357391129
Author: WHITTENBURG
Publisher: Cengage
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Chapter 12, Problem 1P
Indicate which of the following statements are true or false:
________The IRS is a division of the Treasury Department.
________The IRS has four major divisions.
________The IRS local offices process most individual tax returns.
________IRS Campus Processing Sites are the locations that taxpayers should call to obtain tax information.
________Taxpayers should have their CPAs keep their tax records to prevent the IRS from being able to summon their records.
________Most IRS audits are conducted through the mail.
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Which of the following is NOT an option to file a federal tax return?
Fill out the paper version of the IRS tax form and mail it in.
File taxes online using tax program.
Hire a human tax preparer to complete the return and assist with filing.
Fill out a paper version of the IRS tax form and fax it in.
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Mark For Review
1. Internet users can go to http://www.irs.gov/ and:
a.Use a search function to find forms and publications.
b.Find links to other useful IRS pages.
c.Download tax forms and publications.
d.All of these choices are correct.
2. Electronically filed tax returns:
a.Have error rates similar to paper returns.
b.Offer faster refunds than paper returns.
c.May not be transmitted from a taxpayer's home computer.
d.Constitute less than 50 percent of the returns filed with the IRS.
3. John, age 25, is a full-time student at a state university. John lives with his unmarried sister, Ann, who provides over half of his support. His only income is $4,400 of wages from a part-time job at the college book store. What is Ann's filing status for 2021?
a.Married, filing separately
b.Head of household
c.Qualifying widow(er)
d.Single
e.None of these choices are correct.
Go to https://taxfoundation.orgLinks to an external site. . Find a current article published in the Tax Foundation website on the current issues in taxation and tell us about it.
How does this impact the future of tax?
Has your perception of tax accounting changed after taking this course? Explain your answer.
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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