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H&R BLOCK INCOME TAX COURSE QUESTIONS WITH GUARANTEED ACCURATE ANSWERS |VERIFIED
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Circular 230 - ACCURATE ANSWERRegulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure - ACCURATE ANSWERThe release of tax information by an IRS employee. Due Diligence - ACCURATE ANSWERRequir...

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  • August 9, 2024
  • 73
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • hr block income tax course questions
  • hr block income tax course questions with guarant

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  • H&R BLOCK INCOME TAX COURSE

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H&R BLOCK INCOME TAX COURSE
QUESTIONS
H&R BLOCK INCOME TAX COURSE QUESTIONS WITH GUARANTEED ACCURATE
ANSWERS |VERIFIED




Circular 230 - ACCURATE ANSWER✅✅Regulations governing the practice of
attorneys, certified public accountants, enrolled agents, enrolled actuaries, and
appraisers before the IRS.


Disclosure - ACCURATE ANSWER✅✅The release of tax information by an
IRS employee.


Due Diligence - ACCURATE ANSWER✅✅Requirements that tax professionals
must follow when preparing income tax returns.


Noncompliance - ACCURATE ANSWER✅✅Failure or refusal to comply with
the tax code.

,Privilege - ACCURATE ANSWER✅✅Protection from being required to
disclose confidential communications between two parties, such as attorney and
client.


Estimated Tax - ACCURATE ANSWER✅✅The amount of tax a taxpayer
expects to owe for the year after subtracting expected amounts withheld and
certain refundable credits.


Estimated Tax Voucher - ACCURATE ANSWER✅✅A statement by an
individual of (1) the amount of income tax he estimates he will incur during the
current taxable year on income that is not subject to withholding, (2) the excess
amount over that withheld on income which is subject to withholding, and (3) his
estimated self-employment tax.


Exemption from Withholding - ACCURATE ANSWER✅✅Status claimed on
Form W-4 directing the employer not to withhold federal income taxes from the
employee.


Underpayment Penalty - ACCURATE ANSWER✅✅If a taxpayer did not pay
enough tax on a timely basis during the year, he may be required to pay an
underpayment penalty.


Withholding Allowances - ACCURATE ANSWER✅✅An increase by which
income tax withholding on certain income is reduced.


Two Ways to Pay as You Go - ACCURATE ANSWER✅✅Withholding and
Estimated Tax Payments


Form W-4 - ACCURATE ANSWER✅✅Employee's Withholding Allowance
Certificate

,Form 8815 - ACCURATE ANSWER✅✅Exclusion of Interest From Series EE
and I U.S. Savings Bonds Issued After 1989


Form 2210 - ACCURATE ANSWER✅✅Underpayment of Estimated Tax by
Individuals, Estates, and Trusts


Form 4868 - ACCURATE ANSWER✅✅Application for Automatic Extension of
Time To File U.S. Individual Income Tax Return


Form 8888 - ACCURATE ANSWER✅✅Allocation of Refund


Form 9465 - ACCURATE ANSWER✅✅Installment Agreement Request


Amended Return - ACCURATE ANSWER✅✅A tax return filed on Form 1040X
after the original return has been filed.


Closed Year - ACCURATE ANSWER✅✅A tax year for which the statute of
limitations has expired.


Open Year - ACCURATE ANSWER✅✅A taxable year for which the statute of
limitations has not yet expired.


Failure-to-File Penalty - ACCURATE ANSWER✅✅Generally 5% for each
month or part of a month the return is late, but not more than 25% of the tax not
paid.

, Failure to File - ACCURATE ANSWER✅✅Taxpayer fails to file the return by
the due date, and there is a balance due.


Failure to Pay - ACCURATE ANSWER✅✅Taxpayer fails to pay the tax owed
by the due date.


Failure-to-Pay Penalty - ACCURATE ANSWER✅✅0.5% of the unpaid taxes for
each month or part of a month after the due date, but not more than 25%.


Negligence or Intentional Disregard - ACCURATE ANSWER✅✅Taxpayer
shows negligence or disregard of the rules or regulations causing an underpayment.


Negligence-or-Intentional-Disregard Penalty - ACCURATE ANSWER✅✅20%
of the underpayment.


Substantial Understatment - ACCURATE ANSWER✅✅Taxpayer understates
their tax by the larger of $5,000 or 10% of the correct tax.


Substantial-Understatement Penalty - ACCURATE ANSWER✅✅20% of the
underpayment.


Form 1040X - ACCURATE ANSWER✅✅Amended U.S. Individual Income Tax
Return


When can an amended return be filed? - ACCURATE ANSWER✅✅Within three
years of the date the original return was filed, or within two years of the date the
tax was paid, whichever is later.

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