Income Tax Fundamentals 2020
Income Tax Fundamentals 2020
38th Edition
ISBN: 9780357391129
Author: WHITTENBURG
Publisher: Cengage
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Chapter 1, Problem 17P

Jessica and Carl were married on July 1,2019. What are their options for filing status for their 2019 taxes? _________________________________________________________________________________________________________________________________________________________________________

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Nicholas died on December 27, 2020. His wife, Jessica, has not remarried. On January 31, 2021, Jessica received a check from Party Central Inc. and a letter explaining that the check represents a final payment for contract work Nicholas performed for them in 2020. What is the correct and most favorable method of reporting this income?    As ordinary income on Jessica's 2021 individual tax return.  As income paid to Nicholas's estate, reported on Form 1041.  On the couple's jointly filed 2020 return. If this was not included in the originally filed return, Jessica should file an amended return to include this income.  On a 2021 final tax return for Nicholas that Jessica files on his behalf.
Camila timely filed her 2020 tax return on April 15, 2021. Under ordinary circumstances, what is the last day she can file an amended tax return? April 15, 2023; October 15, 2023; April 18, 2024; October 15, 2024
Karen Most has a federal tax levy of $2,100.50 against her. If Most is single with two personal exemptions and had a take-home pay of $499.00 this week, how much would her employer take from her pay to satisfy part of the tax levy?Round your intermediate calculations and answer to the nearest cent.$_________

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Income Tax Fundamentals 2020

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Understanding U.S. Taxes; Author: Bechtel International Center/Stanford University;https://www.youtube.com/watch?v=QFrw0y08Oto;License: Standard Youtube License