Tax preparer Study guides, Class notes & Summaries

Prior to working at a VITA/TCE site, ALL VITA/TCE volunteers (greeters, client facilitators, tax preparers, quality reviewers, etc.) must: - correct answer Both a and b a. Annually pass the Volunteer Standards of Conduct (VSC) certification test with a score of 80% or higher. b. Sign and date the Form 13615, Volunteer Standards of Conduct Agreement, agreeing to comply with the VSC by upholding the highest ethical standards. Can a volunteer be removed and barred from the VITA/TCE program ...

Tax Preparer Final Exam Review Latest Update Questions and 100% Verified Correct Answers Guaranteed A+

Tax Preparer Final Exam Review questions and answers

What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? Form 1099-MISC (15.6) Schedule C, Line F asks for the accounting method used in the business. What is the difference between the cash method and the accrual method of accounting? • Under the accrual method, total sales and total charges for services are included in income even though payment may be received in another tax year. • Under the cash method, only in...

2022 TAX 1 Comprehensive Module 2 Final Exam With Rationale 1. Don is a single parent. His son is 19 (not a student), and his daughter is 17 (still a student). Don claimed EIC on his tax return for both children. He later received a letter from the Internal Revenue Service which disallowed EIC for his son. The letter also stated that Don’s claim was an error due to reckless or intentional disregard of the EIC rules. For how many years will Don be denied EIC? a) 10 years b) ...

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What income reporting form should an independent contractor sometimes receive from the person who paid him for his services? - ANSWER-Form 1099-MISC (15.6) Schedule C, Line F asks for the accounting method used in the business. What is the difference between the cash method and the accrual method of accounting? - ANSWER-• Under the accrual method, total sales and total charges for services are included in income even though payment may be received in another tax year. • Under the cash m...

Tax Preparer Final Exam Review latest 2024

Tax Preparer- See3 With Complete Solutions And Correct Answers Latest Version

Which designation or form gives the appointed person the greatest rights to represent a taxpayer? A. Third party designee, also known as "Check Box" authority. B. Form 8821, Tax Information Authorization. C. Form 2848, Power of Attorney and Declaration of Representative. D. Form 4506-T, Request for Transcript of Tax Return. Answer C The maximum number of refunds that may be electronically deposited into a single financial account is: A. One. B. Two. C. Three. D. Four. Answer C ...