LSU ACCT 3221 Chapter 2 | Questions and Answers True/False: The federal individual income tax returns are the 1040ES, 1040A and 1040. False True/False: The tax code defines adjusted gross income (AGI) as gross income minus a list of permitted deductions. True True/False: The amount of tax liabili...
True/False: The federal individual income tax returns are the 1040ES, 1040A and 1040.
False
True/False: The tax code defines adjusted gross income (AGI) as gross income minus a
list of permitted deductions.
True
True/False: The amount of tax liability for a taxpayer depends on many factors,
including the filing status of the taxpayer.
True
True/False: A married couple can file a joint return if they are married and if both have
earned income.
False
True/False: A married couple in the process of obtaining a divorce cannot file a joint tax
return.
False
True/False: A taxpayer filing separately must show the name and social security
number of the spouse on the tax return.
True
True/False: To qualify for head of household, a taxpayer must maintain a household
that is the principal place of abode of a qualifying person for more than half the year.
True
True/False: A taxpayer can qualify for head of household even though his or her parents
are living in a separate household from that of the taxpayer (assume all other
requirements are met).
True
True/False: If a taxpayer's spouse dies during the tax year, the taxpayer must file as a
qualifying widow(er).
False
True/False: The exemption amount is subject to annual adjustment for inflation.
True
True/False: The personal exemption for 2009 is $3,750.
False
, True/False: A taxpayer can be claimed as a dependent on another return and still he or
she can claim a personal exemption on his or her tax return.
False
True/False: To be claimed as a dependent, a person must be a qualifying child or a
qualifying relative.
True
True/False: A qualifying child does not have to meet the support test in order to be
claimed as a dependent.
False
True/False: A qualifying relative must be related to the taxpayer (as listed by the IRS),
or be a member of the taxpayer's household for the entire year.
True
True/False: A taxpayer who either is 65 or older or blind can claim an additional
standard deduction.
True
True/False: The standard deduction in 2009 for a married couple, under 65 and not
blind, is $11,400.
True
True/False: In 2009, the additional standard deduction for a single taxpayer, who is 65
or older and not blind, is $1,400.
True
True/False: Even if the total of the itemized deductions is lower than the standard
deduction, a taxpayer should choose to itemize on his or her tax return.
False
True/False: The tax tables stop at taxable income of $110,000.
False
True/False: Most taxpayers make payments to the IRS through income tax withholdings
and quarterly estimated tax payments.
True
True/False: A taxpayer may request an automatic seven-month extension of time to file
his or her tax return.
False
True/False: An extension to file a tax return is an extension of time to file, not an
extension of time to pay.
True
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