Name three factors that determine whether a taxpayer is required to file a tax return.

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Answer 1

Question

Chapter 2, Problem 1DQ

To determine

Name three factors that determine whether a taxpayer is required to file a tax return.

Expert Solution & Answer

Explanation of Solution

Tax Return Audit: As the federal tax system is based on self-assessment that requires the taxpayers to estimate and pay their tax correctly within the due date, the IRS uses five general methods of audit to ensure if the taxpayers’ are doing proper self-assessment of their tax obligations.

Name three factors that determine whether a taxpayer is required to file a tax return:

The following factor determines whether a taxpayer is required to file a tax return:

Filing status (Such as single, married filing joint) of the taxpayer,
Age of the taxpayer, and
The gross income of the taxpayer.

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Explain further the steps in determining the income tax. Use the space provided for your answer. Step 1 is to identity the taxpaying party or "entity to which the tax computation formula applies. Step 2 is to determine the taxpayer's "gross income". Step 3 is to determine the expenses and certain other items that can be "deducted" in computing the taxpayer's "taxable income". Step 4 is to apply the appropriate "tax rate" to the taxpayer's taxable income to find the "tax due". Step 5 is to subtract any applicable "tax credits/payments" from the taxpayer's tax due in finding the "tax payable". Step 6 is to increase the tax by "penalties and interests" to obtain the "total amount payable".

Answer 2

Question

Chapter 2, Problem 1DQ

To determine

Name three factors that determine whether a taxpayer is required to file a tax return.

Expert Solution & Answer

Explanation of Solution

Tax Return Audit: As the federal tax system is based on self-assessment that requires the taxpayers to estimate and pay their tax correctly within the due date, the IRS uses five general methods of audit to ensure if the taxpayers’ are doing proper self-assessment of their tax obligations.

Name three factors that determine whether a taxpayer is required to file a tax return:

The following factor determines whether a taxpayer is required to file a tax return:

Filing status (Such as single, married filing joint) of the taxpayer,
Age of the taxpayer, and
The gross income of the taxpayer.

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Answer 3

Question

Chapter 2, Problem 1DQ

To determine

Name three factors that determine whether a taxpayer is required to file a tax return.

Expert Solution & Answer

Explanation of Solution

Tax Return Audit: As the federal tax system is based on self-assessment that requires the taxpayers to estimate and pay their tax correctly within the due date, the IRS uses five general methods of audit to ensure if the taxpayers’ are doing proper self-assessment of their tax obligations.

Name three factors that determine whether a taxpayer is required to file a tax return:

The following factor determines whether a taxpayer is required to file a tax return:

Filing status (Such as single, married filing joint) of the taxpayer,
Age of the taxpayer, and
The gross income of the taxpayer.

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Answer 4

Question

Chapter 2, Problem 1DQ

To determine

Name three factors that determine whether a taxpayer is required to file a tax return.

Expert Solution & Answer

Explanation of Solution

Tax Return Audit: As the federal tax system is based on self-assessment that requires the taxpayers to estimate and pay their tax correctly within the due date, the IRS uses five general methods of audit to ensure if the taxpayers’ are doing proper self-assessment of their tax obligations.

Name three factors that determine whether a taxpayer is required to file a tax return:

The following factor determines whether a taxpayer is required to file a tax return:

Filing status (Such as single, married filing joint) of the taxpayer,
Age of the taxpayer, and
The gross income of the taxpayer.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 2, Problem 1DQ

To determine

Name three factors that determine whether a taxpayer is required to file a tax return.

Expert Solution & Answer

Explanation of Solution

Tax Return Audit: As the federal tax system is based on self-assessment that requires the taxpayers to estimate and pay their tax correctly within the due date, the IRS uses five general methods of audit to ensure if the taxpayers’ are doing proper self-assessment of their tax obligations.

Name three factors that determine whether a taxpayer is required to file a tax return:

The following factor determines whether a taxpayer is required to file a tax return:

Filing status (Such as single, married filing joint) of the taxpayer,
Age of the taxpayer, and
The gross income of the taxpayer.

Answer 6

Chapter 2, Problem 1DQ

To determine

Name three factors that determine whether a taxpayer is required to file a tax return.

Expert Solution & Answer

Explanation of Solution

Tax Return Audit: As the federal tax system is based on self-assessment that requires the taxpayers to estimate and pay their tax correctly within the due date, the IRS uses five general methods of audit to ensure if the taxpayers’ are doing proper self-assessment of their tax obligations.

Name three factors that determine whether a taxpayer is required to file a tax return:

The following factor determines whether a taxpayer is required to file a tax return:

Filing status (Such as single, married filing joint) of the taxpayer,
Age of the taxpayer, and
The gross income of the taxpayer.

Answer 7

Chapter 2, Problem 1DQ

To determine

Name three factors that determine whether a taxpayer is required to file a tax return.

Answer 8

Expert Solution & Answer

Explanation of Solution

Tax Return Audit: As the federal tax system is based on self-assessment that requires the taxpayers to estimate and pay their tax correctly within the due date, the IRS uses five general methods of audit to ensure if the taxpayers’ are doing proper self-assessment of their tax obligations.

Name three factors that determine whether a taxpayer is required to file a tax return:

The following factor determines whether a taxpayer is required to file a tax return:

Filing status (Such as single, married filing joint) of the taxpayer,
Age of the taxpayer, and
The gross income of the taxpayer.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

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Name three factors that determine whether a taxpayer is required to file a tax return.

Concept explainers

Name three factors that determine whether a taxpayer is required to file a tax return.

Explanation of Solution

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