Income Tax Fundamentals 2020
38th Edition
ISBN: 9780357391129
Author: WHITTENBURG
Publisher: Cengage
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Chapter 12, Problem 16MCQ
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: For paying taxes in joint return both are responsible except which option.
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Fill in the blank. When taxpayers file jointly and only one spouse owes a past-
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Which one of the following statements describes the consequences of using the filing status 'married filing jointly'?
A spouse may not be held responsible for tax if that spouse had no income.
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low income.
If it is elected on an original return, it may be changed on an amended return.
Which of the following is not tax exempt?
A. Amount of any damages received by agreement on account of injuries sustained.
B. Consequential damages representing the loss of the victim’s earning capacity awarded by the courts to the heirs of the victim.
C. Award of compensatory, actual, moral, and exemplary damages.
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E. All of the above
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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