Exam (elaborations)
EA EXAM PART 1 QUESTIONS AND ANSWERS (GRADED A)
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EA EXAM PART 1 QUESTIONS AND ANSWERS
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EA EXAM PART 1 QUESTIONS ANDANSWERS
FORM h1310 h- hCorrect hAnswers h-Statement hof hperson hclaiming ha hrefund hdue ha
hdeceased htaxpayer
FORM h8962 h- hCorrect hAnswers h-Reconcile hPremium htax hcredit
FORM h4868 h- hCorrect hAnswers h-Application hfor hAutomatic hExtension hof hTime hto
hFile
FORM h843 h- hCorrect hAnswers h-Claim hfor hRefund hand hRequest hfor hAbatement
Form h8332 h- hCorrect hAnswers h-Release/Revocation hof hRelease hof hClaim hto
hExemption hfor hChild hby hCustodial hParent
Tax hCuts hand hJobs hAct hreduced hthe hbackup hwithholding htax hto h- hCorrect
hAnswers h-24%
Form h8889 h- hCorrect hAnswers h-is hused hto hreport hHSA hcontributions hmade hby
Form h982 h- hCorrect hAnswers h-must hbe hfiled hwith hthe htaxpayer's hreturn. hThe
hforgiven hdebt his hall htaxable.
Form h8867 h- hCorrect hAnswers h-Paid hPreparer's hEarned hIncome hCredit hChecklist,
hmust hbe hsubmitted hwith hevery hclaim hfor hEITC hfiled helectronically hor hattached hto
hevery hpaper hreturn hthat hhas han hEITC hclaim.
FORM h1040 h- hCorrect hAnswers h-A hrevocable hliving htrust hdoes hnot hfile ha hseparate
htax hreturn, hit his htreated has ha hdisregarded hentity hfor htax hpurposes. hThe htrust
hincome hattributed hto hits hgrantor, hwho hreports hit hon hhis hpersonal hincome htax
hreturn. hThese htrusts hare hmainly hused hto havoid hprobate.
FORM h706 hdue h- hCorrect hAnswers h-Estate htax hreturns h(Form h706) hare hdue hnine
hmonths hafter hthe hdate hof hdeath, hunless han hextension hof htime hto hfile his hrequested
Form h8606 h- hCorrect hAnswers h-What hform, hif hany, his hrequired hto hreport ha
hnondeductible hcontribution hto ha htraditional hIRA
, Form h709 h- hCorrect hAnswers h-is hused hto hreport h- hGift htaxes hand hthe hgeneration
hskipping htransfer htax
Net hinvestment hincome htax h- hCorrect hAnswers h-3.9%
Nanny hthreshold hfor hreporting h- hCorrect hAnswers h-$2,100
Additional hmedicare htax h- hCorrect hAnswers h-0.9% hMedicare htax hon hwages
hexceeding h$250,000 hMFJ h/ h$200,000 hHH, hQW, hS h/ h$125,000 hMFS
Exemption hamount hfor hestate htaxes h- hCorrect hAnswers h-11.4 hmillion hsingle hand
h22.8 hmillion hMFJ
Maximum hestate htax hrate hfor h2019 h- hCorrect hAnswers h-40%
Form h1041 h- hCorrect hAnswers h-Bankruptcy hestate
Federal hDisaster hAreas hDue hdate h- hCorrect hAnswers h-60-day hextension hin
hfederally hdeclared hdisaster hareas hwith hrespect hto hdisasters hdeclared hafter hthe
hdate hof henactment
Form h2350 h- hCorrect hAnswers h-Application hfor hExtension hof hTime hto hFile hU.S.
hIncome hTax hReturn, his hused hfor htaxpayers hwho hlive habroad hand hqualify hfor hthe
hforeign hearned hincome hexclusion hor hthe hforeign hhousing hexclusion hor hdeduction.
hIt hdoes hnot hextend hthe htime hto hpay htaxes, hit honly hextends hthe htime hto hfile. hFor
hcalendar-year htaxpayers, hthe h"additional" hextension hdate hwould hbe hDecember h15.
Failure-to-File hPenalty h- hCorrect hAnswers h-The hpenalty hfor hfiling hlate his husually
h5% hof hthe hunpaid htaxes hfor heach hmonth hor hpart hof ha hmonth hthat ha hreturn his hlate
The hfailure-to-file hpenalty hhas hincreased hto h- hCorrect hAnswers h-$435 hor h100% hof
hthe hunpaid htax h(whichever his hless) hfor ha htaxpayer hwho hfiles hhis hreturn hmore hthan
h60 hdays hlate.
Failure-to-Pay hPenalty h- hCorrect hAnswers h-- hHe hcould hbe hsubject hto ha hfailure-to-
pay hpenalty hof h½ hof h1% h(0.5%) hof hunpaid htaxes hfor heach hmonth hor hpart hof ha
hmonth hafter hthe hdue hdate hthat hthe htaxes hare hnot hpaid.
- hThe hinterest hrate his hdetermined hquarterly hand his hthe hfederal hshort-term hrate hplus
h3%. hInterest hcompounds hdaily. hUnlike hlate hpenalties, hinterest hcannot hbe hreduced
hor habated hfor hreasonable hcause.
Three hgroups hof htaxpayers hare hgranted han hautomatic htwo hmonth hextension hto hfile
hand hpay hany htax hdue? h- hCorrect hAnswers h-1. hNonresident haliens hwho hhave
hincome hthat his hnot hsubject hto hU.S. hwithholding
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