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Enrolled Agent Unit 3 Practice Exam Questions and Answers
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Enrolled Agent Unit 3 Practice Exam Questions and Answers
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Enrolled Agent Unit 3 Practice ExamQuestions and Answers
Select ithe itrue istatement iregarding ia iperson iwho iemploys ione ior imore iincome itax
ireturn ipreparers.
-The iemployer imust iprepare ia ireturn isetting iforth icertain iinformation.
-The iemployer imust idisclose ithe iwage ipaid ito ieach iemployee.
-Required irecords imust ibe ikept ifor i2 iyears.
-Each ipreparer's iplace iof iwork idoes inot ihave ito ibe idisclosed. i- iCorrect iAnswers i--
The iemployer imust iprepare ia ireturn isetting iforth icertain iinformation.
With iregard ito ipowers iof iattorney, iwhich iof ithe ifollowing istatements iis ifalse?
-A idocument iother ithan iForm i2848 ican ibe iused ito iappoint ia ipower iof iattorney iif iit
icontains ithe iinformation irequired iby ithe iIRS.
-Form i2848, iPower iof iAttorney iand iDeclaration iof iRepresentation, ican ibe iused ito
iappoint ian iAnnual iFiling iSeason iProgram iparticipant ias ia itaxpayer's irepresentative
ibefore irevenue iagents iand iexamining iofficers iof ithe iExamination iDivision iof ithe iIRS.
-A itaxpayer's irepresentative ican ireceive iand iendorse ithe itaxpayer's icheck irelated ito
iincome itax ifrom ithe iU.S. iTreasury iif iso iauthorized ion ithe itaxpayer's ipower iof
iattorney, iForm i2848.
-A itaxpayer ican iexecute ia idurable ipower iof iattorney, iwhich ispecifies ithat ithe
iappointment iof ithe iattorney-in-fact iwill inot iend idue ithe ithe iincapacity ior iincompetency
iof ithe itaxpayer. i- iCorrect iAnswers i--A itaxpayer's irepresentative ican ireceive iand
iendorse ithe itaxpayer's icheck irelated ito iincome itax ifrom ithe iU.S. iTreasury iif iso
iauthorized ion ithe itaxpayer's ipower iof iattorney, iForm i2848.
-No iendorse.
All iof ithe ifollowing istatements iwith iregard ito iinterest iand ipenalties ion iagreed icases
iare itrue iEXCEPT
-Jan iagreed ito ithe iproposed ichanges. iShe isigned ithe iagreement iform iand ipaid ithe
iadditional itax. iJan iwill ipay iinterest ion ithe iadditional itax. iInterest iis ifigured ifrom ithe
idue idate iof ithe ireturn ito ithe idate ishe ipaid ithe iadditional itax.
,-Jane iagreed ito ithe iproposed ichanges. iShe isigned ithe iagreement iform ion iMay i18,
i2021, ibut ishe idid inot ipay ithe ibill iuntil iOctober i3, i2021. iJane iwill iowe iadditional
iinterest.
-Jody iagreed ito ithe iproposed ichanges. iShe isigned ithe iagreement iform, ibut ishe idid
inot ipaid ithe iadditional itax iof i$2,700. iOn iJune i5, i2021, iJody ireceived ia ibill idated
iJune i2, i2021, ithat iincluded ithe iinterest. iShe ipaid ithe ibill ion iJune i21, i2021. iJody iwill
iowe iadditional iinterest.
-Joseph iagreed ito ithe iproposed ichanges. iHe isigned ithe iagreement iform, ibut ihe idid
inot ipay ithe iadditional itax. iJoseph ireceived ia ibill ithat iinclude i- iCorrect iAnswers i--Jody
iagreed ito ithe iproposed ichanges. iShe isigned ithe iagreement iform, ibut ishe idid inot
ipaid ithe iadditional itax iof i$2,700. iOn iJune i5, i2021, iJody ireceived ia ibill idated iJune i2,
i2021, ithat iincluded ithe iinterest. iShe ipaid ithe ibill ion iJune i21, i2021. iJody iwill iowe
iadditional iinterest.
-Paid ithe ibill iwithin i21 idays iof ithe idate iof ithe inotice, iand iwill iowe ino iadditional
iinterest.
All iof ithe ifollowing iare itypes iof ioffer iin icompromise ipayment iterms, iEXCEPT
-Short-term iperiodic ipayments imust ipaid iwithin i24 imonths.
-Lump isum icash ipayments imust ibe ipaid iwithin i5 ior ifewer iinstallments.
-Lump isum icash ipayments imust ibe ipaid iwithin i24 imonths.
-Periodic ipayments ipayable iin i6 ior imore imonthly iinstallments. i- iCorrect iAnswers i--
Lump isum icash ipayments imust ibe ipaid iwithin i24 imonths.
A i2021 iForm iW-2 ifor ia icalendar-year itaxpayer iwill ifirst ibe iavailable ifrom ithe iIRS ias
ipart iof ia itranscript iin iwhich iof ithe ifollowing iyears?
-2024.
-2021.
-2023.
-2022. i- iCorrect iAnswers i--2022. iJuly i2022.
Which iof ithe ifollowing istatements iwith irespect ito ia ilevy iis ifalse?
-A iFinal iNotice iof iIntent ito iLevy iis inot ienforceable iunless ithis inotice iis igiven ito ithe
itaxpayer iin iperson.
-The iIRS imust irelease ia ilevy iif ithe iFMV iof ithe iproperty iexceeds ithe ilevy iand iits
irelease iwould inot ihinder ithe icollection iof itax.
-Generally, icourt iauthorization iis inot irequired ibefore ilevy iaction iis itaken.
-A ilevy ican ibe imade ion iproperty iin ithe ihands iof ithird iparties ior iin ithe itaxpayer's
ipossession. i- iCorrect iAnswers i--A iFinal iNotice iof iIntent ito iLevy iis inot ienforceable
iunless ithis inotice iis igiven ito ithe itaxpayer iin iperson.
-Can ibe iaddress/ iusual iplace iof ibusiness
, Which iof ithe ifollowing idoes iNOT idescribe ione iof ithe ifive imajor icategories iof
ireportable itransactions?
-Transactions ifor iwhich itaxpayers iclaim ilosses iin iexcess iof icertain ithresholds.
-Tax ievasion itransactions iidentified iby ithe iIRS ithat iare iexpected ito iobtain ithe isame
ior isubstantially isimilar itax iconsequences.
-Potential itax iavoidance ior ievasion itransactions iidentified iby ithe iIRS ithat ilack
isufficient iinformation ito idetermine iif ithey ishould ibe iidentified ias itax iavoidance
itransactions.
-Transactions ioffered iunder iconditions iof iconfidentiality. i- iCorrect iAnswers i--Tax
ievasion itransactions iidentified iby ithe iIRS ithat iare iexpected ito iobtain ithe isame ior
isubstantially isimilar itax iconsequences.
-Listed itransactions iare iavoidance, inot ievasion.
The iInternal iRevenue iBulletin i(IRB) iis ithe iauthoritative iinstrument iof ithe
iCommissioner iof iInternal iRevenue. iIt iis ipublished iby ithe iGovernment iPrinting iOffice
ion ia
-Daily ibasis.
-Weekly ibasis.
-Monthly ibasis.
-Annual ibasis. i- iCorrect iAnswers i--Weekly ibasis.
Which istatement iis ifalse iconcerning ithe ismall itax icase iprocedure iof ithe iTax iCourt?
-The idecision iis ifinal.
-The itax imust ihave ibeen iassessed iand ipaid ibefore ithe iTax iCourt iproceedings.
-The idisputed itax imust ibe i$50,000 ior iless ifor iany i1 iyear ior iperiod.
-No iappeal iis iavailable ifor icases idecided iunder ithis iprocedure. i- iCorrect iAnswers i--
The itax imust ihave ibeen iassessed iand ipaid ibefore ithe iTax iCourt iproceedings.
Which iof ithe ifollowing ipromulgates iprocedural iregulations?
-Commissioner iof ithe iIRS.
-Chief iCounsel.
-Director iof ithe iOffice iof iProfessional iResponsibility.
-Secretary iof ithe iTreasury. i- iCorrect iAnswers i--Commissioner iof ithe iIRS.
Which ie-file iprovider ioption iallows itaxpayers ito iself-prepare ireturns iby ientering ireturn
idata idirectly ion isoftware idownloaded ifrom ian iInternet isite?
-Software ideveloper.
-Transmitter.
-Online iprovider.
-Electronic ireturn ioriginator i(ERO) i- iCorrect iAnswers i--Online iprovider.
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