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H and R Block Exam Questions and Answers Which of the following is considered earned income - ANS ️️ Earned income is money received for services performed. 50 cent- 99 cent are rounded up. 1 cent -49 cent is dropped - ANS ️️ Tax on income that comes entirely from wages under 100,000 is ...

H&R Block Chapter 1 Exam Questions and Answers Income - ANS ️️ is financial gain derived from labor (work), capital (money), or a combination of the two. The financial gain derived from labor is generally referred to as wages. Unless specifically exempt or excluded by law, all income is subj...

H&R Block Midterm Review Exam Questions and Answers Some types of income do not need to be reported anywhere on a federal tax return. This includes all of the following EXCEPT: A.) Most medical insurance proceeds B.) Worker's compensation paid to an employee who was injured on the job. C.) We...

Chapters 7-11 Review (ITC 2023) Questions and Answers Duke and his wife were legally divorced in 2021. After the divorce, Duke retained physical custody of their son. Duke received the following amounts from his ex- wife, on behalf of their son or as ordered by the court through a divorce decree:...

H&R Block Income Tax Course 2024 Circular 230 - ANS ️️ Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure - ANS ️️ The release of tax information by an IRS employee. Due Diligence ...

hr block vocab ch 1-6 exam questions and answers Adjusted Gross Income (AGI) - ANS ️️ Adjusted gross income equals gross income less reductions that are allowable, regardless of whether personal deductions are itemized. Credits - ANS ️️ A direct reduction of tax liability allowed for var...

H & R Block Basic Class Chapter 2 Exam Questions and Answers Community Income - ANS ️️ Income of a married couple, living in a community property state, that is considered to belong equally to each spouse, regardless of which spouse receives the income. Community Property - ANS ️️ Prope...

HR Block Test Questions and Answers A tax returner or claim for refund requiring a paid tax return preparer to determine eligibility for EITC, CTC/ODC/ ACTC, AOTC, and the head of household filling status may be subject to a maximum penalty, totaling what amount for failure to meet due diligence...

HRB FINAL EXAM QUESTIONS AND ANSWERS (GRADED A) What is the Difference between earned income and unearned income? - ANS ️️ Earned income is received for services performed. Examples are wages commissions, tips and generally farming and other business income . Taxable income other than that r...

TAX FINAL EXAM QUESTIONS AND ANSWERS which of the following audits is the least common, broadest in scope, and typically most complex? a. correspondence b. targeted c. office d. field e. none of the choices are correct - ANS ️️ Field which of the following is an example of a progressive ...

HR BLOCK Final Test Review (ITC 2023) Questions and Answers Which of the following is a requirement for all taxpayers who want to claim the EIC? Live in the U.S. for more than half a year. Have a valid social security number. Have a qualifying child dependent. Have AGI less than $21,430 ($27,...

HR Block 2023 Scenarios Exam Questions and Answers Carolyn earned $52,000 as a full-time employee in 2018. Due to procrastination and denial, she did not prepare her 2018 income tax return until June 23, 2019. Carolyn did not file the return until August 1, 2019. She did not request an extension...

hr block income tax course 1-6 exam questions and answers Five filing statuses - ANS ️️ single, married filing jointly, married filing separate, head of household, and qualifying widower social Security tax withheld - ANS ️️ 6.2% up to 118,500 or 7347.00 Form 1099- G - ANS ️️ Form f...

H & R Block Midterm Review Exam with complete solutions Some types of income do not need to be reported anywhere on a federal tax return. This includes all of the following EXCEPT: A.) Most medical insurance proceeds B.) Worker's compensation paid to an employee who was injured on the job. C.)...