Irs requires Study guides, Class notes & Summaries

California Life, Accident, and Health Licensing Exam Questions and Answers 100% CorrectCalifornia Life, Accident, and Health Licensing Exam Questions and Answers 100% CorrectCalifornia Life, Accident, and Health Licensing Exam Questions and Answers 100% CorrectCo-insurance - ANSWER-The policy provision which requires the insurer and the insured to share in the cost of services rendered Exclusion ratio - ANSWER-The formula which is used by the IRS to determine how much is taxable to an annuita...

Ethics & Responsibilities/Business Law For REG CPA Exam With 100% Correct And Verified Answers those who can practice before the IRS Preparing and filing documents, corresponding with the IRS, rendering written tax advice, or representing client at hearings - Correct Answer-what constitutes practice before the IRS Form 2848 - Correct Answer-power of attorney form to allow an individual to represent a taxpayer before the IRS Subpart A of Circular 230 - Correct Answer-addresses authorit...

ASREB Practice exam; Questions and Answers 100% Verified Formula for finding property value when you have the net operating income and cap rate Answer-Current market value(CMV)= NOI/ cap rate Example: CMV=$5.480/ .08(8%) =$68,500 When would IRS form 1099S be used? Answer-Report sales price What's a 1099s forms Answer-Known as an "information return. The form the federal government requires to be filed when selling real estate. If you sold any real property during the course of the ...

Sally and Dan must pay 2 points on their new $65,000 loan. What will they have to pay at closing for the points? - Answer-$1,300 Nancy bought her home last year for $425,000. Her property taxes would be assessed at a maximum of: - Answer-$4,250 Patrick has a written independent contractor agreement with his broker Tami. Last year, about 25% of his income came from sales commissions. The other 75% came from an hourly wage paid by Tami. For income tax purposes, the IRS would probably classif...

NMLS Exam Study Questions with Correct Answers Title XIV (Mortgage Reform and Anti-Predatory Lending Act) - Answer-- Requires MLOs to apply new minimum qualifying standards & defines a new category of "qualified" loans. - Requires verification/documentation of the borrower's ability to repay the loan. - Establishes penalties for irresponsible lending, including extended foreclosure defense for borrowers. Title X (Consumer Financial Protection Act of 2010) - Answer-Provides broad auth...

What is the *3 Pronged Approach*? correct answers Test used by SEC to determine if an entity meets the definition of an investment adviser. 1. Does the Person provide investment advice relating to securities and based on the client's situation? 2. Does the person receive compensation as a result of providing investment advice? 3. Is the person in the business of providing investment advice? What is a *Form 8-K*? correct answers SEC report required by the Securities Exchange Act of 1934...

FICEP Final Exam Questions with Correct Answers Select the statement that correctly describes a progressive tax. - Answer-A progressive tax requires people to pay more as they earn more. Pick the statement that best describes a regressive tax. - Answer-A regressive tax charges the same tax rate regardless of the taxpayer's income. Why are government fees and surcharges sometimes described as a form of tax? - Answer-Because they generate income for the government. Which taxing authori...

1. How often must enrolled agents renew their enrollment? A) Every three years. B) Every five years. C) Every year. D) None of the above. Answer A) Every three years. 2. Under Circular 230, an employer of other tax preparers must: A) Furnish the IRS a record of all tax return preparers employed. B) Keep a record of all tax return preparers employed and make it available for IRS inspection upon request. C) Document each tax preparer's performance and keep a record that must be made ava...

REG exam 2 questions & answers 100% CORRECT 2024/2025 can an oral contract be enforceable that takes longer than 1 year to complete? - ANSWERS1. yes, although under Statute of Frauds most contracts that cannot be completed within one year must be evidenced by writing, there is an exception if one party has FULLY PERFORMED his part of contract. novation - ANSWERSnovation occurs when a new contract substitutes a new party for an old party in an existing contact on the agreement of all part...

A home is being purchased for $275,000. The buyer agrees to an 80% loan with the seller paying $5,000 of the buyer's closing costs. What amount will the ... - $55,000 A national company desires a parcel of land which must be four times the size of its proposed building. If the building design includes 20,000 square feet .... - B) 2 acres A salesperson is convicted of a crime which involved activities as a real estate licensee. The Commission obtains a certified copy of the .... Acco...