Garantie de satisfaction à 100% Disponible immédiatement après paiement En ligne et en PDF Tu n'es attaché à rien
logo-home
Test Bank for South-Western Federal Taxation 2025: Individual Income Taxes, 48th Edition by James C. Young | Complete Chapters €29,22   Ajouter au panier

Examen

Test Bank for South-Western Federal Taxation 2025: Individual Income Taxes, 48th Edition by James C. Young | Complete Chapters

1 vérifier
 122 vues  5 fois vendu
  • Cours
  • Taxation
  • Établissement
  • Taxation

Test Bank for South-Western Federal Taxation 2025: Individual Income Taxes, 48th Edition 48e by James C. Young, Annette Nellen, Mark Persellin. All Chapters are included with answers. This document includes Multiple Choice, True False, Matching questions, Short Questions and Answers for all chapter...

[Montrer plus]

Aperçu 4 sur 654  pages

  • 20 juin 2024
  • 654
  • 2023/2024
  • Examen
  • Questions et réponses
  • Taxation
  • Taxation

1  vérifier

review-writer-avatar

Par: jdhudson2002 • 2 mois de cela

reply-writer-avatar

Par: mizhouubcca • 1 mois de cela

Thank you for your kind words! I’m glad you found the information useful. I look forward to your next visit!

avatar-seller
Chapter 01 2025 Individuals 24/7 Customer Support ✅
Answers Included ✅
Indicate whether the statement is true or false.
1. Sales made over the internet are not exempt from the application of a general sales (or use) tax.
a. True
b. False

2. Upon audit by the IRS, Faith is assessed a deficiency of $40,000 of which $25,000 is attributable to negligence.
The 20% negligence penalty will apply to $25,000.
a. True
b. False

3. Ultimately, most taxes are paid by individuals.
a. True
b. False

4. Even if property tax rates are not changed, the amount of ad valorem taxes imposed on realty may not remain
the same.
a. True
b. False

5. The principal objective of the FUTA tax is to provide some measure of retirement security.
a. True
b. False

6. If more IRS audits are producing a higher number of no change results, this indicates increased compliance on
the part of taxpayers.
a. True
b. False

7. A safe and easy way for a taxpayer to avoid local and state sales taxes is to make the purchase in a state that
levies no such taxes.
a. True
b. False

8. A calendar year taxpayer files his 2023 Federal income tax return on March 4, 2024. The return reflects an
overpayment of $6,000, and the taxpayer requests a refund of this amount. The refund is paid on May 16, 2024.
The refund need not include interest.
a. True
b. False

9. A tax cut enacted by Congress that contains a sunset provision will make the tax cut temporary.
a. True
b. False




Page 1

,Name: Class: Date:

Chapter 01 2025 Individuals

10. For Federal income tax purposes, there never has been a general amnesty period.
a. True
b. False

11. To lessen or eliminate the effect of multiple taxation, a taxpayer who is subject to both foreign and U.S. income
taxes on the same income is allowed either a deduction or a credit for the foreign tax paid.
a. True
b. False

12. Because it is consistent with the wherewithal to pay concept, the tax law requires a seller to recognize a gain in
the year the installment sale occurs.
a. True
b. False

13. The amount of a taxpayer’s itemized deductions will increase the chance of being audited by the IRS.
a. True
b. False

14. In 2024, José, a widower, sells land (fair market value of $100,000) to his daughter, Linda, for $50,000. José has
not made a taxable gift.
a. True
b. False

15. For omissions from gross income in excess of 25% of that reported, there is no statute of limitations on
additional income tax assessments by the IRS.
a. True
b. False

16. Stealth taxes have the effect of generating additional taxes from all taxpayers.
a. True
b. False

17. Jason’s business warehouse is destroyed by fire. Because the insurance proceeds exceed the basis of the
property, a gain results. If Jason shortly reinvests the proceeds in a new warehouse, no gain is recognized due to
the application of the wherewithal to pay concept.
a. True
b. False

18. An inheritance tax is a tax on a decedent’s right to pass property at death.
a. True
b. False

19. When interest is charged on a deficiency, any part of a month counts as a full month.
a. True
b. False


Page 2

,Name: Class: Date:

Chapter 01 2025 Individuals

20. The majority of IRS audits are handled by correspondence.
a. True
b. False

21. The ratification of the Sixteenth Amendment to the U.S. Constitution was necessary to validate the Federal
income tax on corporations.
a. True
b. False

22. One of the major reasons for the enactment of the Federal estate tax was to prevent large amounts of wealth
from being accumulated within a family unit.
a. True
b. False

23. Under state amnesty programs, all delinquent and unpaid income taxes are forgiven.
a. True
b. False

24. In preparing an income tax return, the use of a client’s estimates is not permitted.
a. True
b. False

25. The Federal estate and gift taxes are examples of progressive rate taxes.
a. True
b. False

26. During any month in which both the failure to file penalty and the failure to pay penalty apply, the failure to file
penalty is increased by the amount of the failure to pay penalty.
a. True
b. False

27. For the negligence penalty to apply, the underpayment must be caused by intentional disregard of rules and
regulations without intent to defraud.
a. True
b. False

28. Under Clint’s will, all of his property passes to either the Lutheran Church or to his spouse. No Federal estate
tax will be due on Clint’s death.
a. True
b. False

29. For state income tax purposes, some states allow a credit for dependents rather than a deduction.
a. True
b. False




Page 3

, Name: Class: Date:

Chapter 01 2025 Individuals

30. If a special agent becomes involved in the audit of a return, this indicates that the IRS suspects that fraud is
involved.
a. True
b. False

31. As a matter of administrative convenience, the IRS would prefer to have Congress decrease (rather than
increase) the amount of the standard deduction allowed to individual taxpayers.
a. True
b. False

32. The Federal income tax on individuals generates more revenue than the Federal income tax on corporations.
a. True
b. False

33. Some states use their state income tax return as a means of collecting unpaid use tax.
a. True
b. False

34. An office audit by the IRS takes place at the office of the taxpayer.
a. True
b. False

35. The IRS is required to redetermine the interest rate on underpayments and overpayments once a year.
a. True
b. False

36. The IRS agent auditing the return will issue an RAR even if the taxpayer owes no additional taxes.
a. True
b. False

37. When a state decouples from a Federal tax provision, it means that this provision will not apply for state income
tax purposes.
a. True
b. False

38. If a taxpayer files early (i.e., before the due date of the return), the statute of limitations on assessments begins
on the date the return is filed.
a. True
b. False

39. The annual exclusion, currently $18,000, is available for gift and estate tax purposes.
a. True
b. False




Page 4

Les avantages d'acheter des résumés chez Stuvia:

Qualité garantie par les avis des clients

Qualité garantie par les avis des clients

Les clients de Stuvia ont évalués plus de 700 000 résumés. C'est comme ça que vous savez que vous achetez les meilleurs documents.

L’achat facile et rapide

L’achat facile et rapide

Vous pouvez payer rapidement avec iDeal, carte de crédit ou Stuvia-crédit pour les résumés. Il n'y a pas d'adhésion nécessaire.

Focus sur l’essentiel

Focus sur l’essentiel

Vos camarades écrivent eux-mêmes les notes d’étude, c’est pourquoi les documents sont toujours fiables et à jour. Cela garantit que vous arrivez rapidement au coeur du matériel.

Foire aux questions

Qu'est-ce que j'obtiens en achetant ce document ?

Vous obtenez un PDF, disponible immédiatement après votre achat. Le document acheté est accessible à tout moment, n'importe où et indéfiniment via votre profil.

Garantie de remboursement : comment ça marche ?

Notre garantie de satisfaction garantit que vous trouverez toujours un document d'étude qui vous convient. Vous remplissez un formulaire et notre équipe du service client s'occupe du reste.

Auprès de qui est-ce que j'achète ce résumé ?

Stuvia est une place de marché. Alors, vous n'achetez donc pas ce document chez nous, mais auprès du vendeur mizhouubcca. Stuvia facilite les paiements au vendeur.

Est-ce que j'aurai un abonnement?

Non, vous n'achetez ce résumé que pour €29,22. Vous n'êtes lié à rien après votre achat.

Peut-on faire confiance à Stuvia ?

4.6 étoiles sur Google & Trustpilot (+1000 avis)

71498 résumés ont été vendus ces 30 derniers jours

Fondée en 2010, la référence pour acheter des résumés depuis déjà 14 ans

Commencez à vendre!

Récemment vu par vous


€29,22  5x  vendu
  • (1)
  Ajouter