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WGU C239 Bundled Exams with Complete Solution | Verified | Everything you Need!!
WGU C239 Bundled Exams with Complete Solution | Verified | Everything you Need!!
[Show more]WGU C239 Bundled Exams with Complete Solution | Verified | Everything you Need!!
[Show more]What qualifies as a tax? - -Is to fund the government agencies that's required, imposed by a 
government and not tied directly to the benefit received by the taxpayer. 
Earmarked tax - -a tax that is assessed for a specific purpose 
Tax base - -Is the item being taxed x the tax rate 
Flat tax - -A ...
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Add to cartWhat qualifies as a tax? - -Is to fund the government agencies that's required, imposed by a 
government and not tied directly to the benefit received by the taxpayer. 
Earmarked tax - -a tax that is assessed for a specific purpose 
Tax base - -Is the item being taxed x the tax rate 
Flat tax - -A ...
1099 Requirements - -Payment more than 600; C Corp exempt 
Acquisitive Reorganization - -Acquiring corporation obtains part or all of a target corporation's assets 
or stock 
Alternative Minimum Tax - -taxpayers with substantial income can't use exclusion, deductions and 
credits to avoid a signif...
Preview 2 out of 8 pages
Add to cart1099 Requirements - -Payment more than 600; C Corp exempt 
Acquisitive Reorganization - -Acquiring corporation obtains part or all of a target corporation's assets 
or stock 
Alternative Minimum Tax - -taxpayers with substantial income can't use exclusion, deductions and 
credits to avoid a signif...
1. Why would a taxpayer need to include IRS Form 8332, Release/Revocation of Claim to Exemption of 
Child by Custodial Parent, in their personal income tax return? 
A. To allow a noncustodial ex-spouse permission to take the child's dependency exemption, or to revoke 
same. 
B. To disallow an ex-sp...
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Add to cart1. Why would a taxpayer need to include IRS Form 8332, Release/Revocation of Claim to Exemption of 
Child by Custodial Parent, in their personal income tax return? 
A. To allow a noncustodial ex-spouse permission to take the child's dependency exemption, or to revoke 
same. 
B. To disallow an ex-sp...
Sec 351 - -Three requirements: 
ferror transfers for property 
2. Solely in exchange for the corporation stock 
3. Have to have control immediately following transaction 
Control of 80% of (combined voting and nonvoting) each voting stock and nonvoting stock 
Not valid with transferring in service a...
Preview 1 out of 3 pages
Add to cartSec 351 - -Three requirements: 
ferror transfers for property 
2. Solely in exchange for the corporation stock 
3. Have to have control immediately following transaction 
Control of 80% of (combined voting and nonvoting) each voting stock and nonvoting stock 
Not valid with transferring in service a...
An individual has taxable income of $60,000. The first $20,000 is taxed at 20%, the next $20,000 is taxed 
at 20%, and all income above $40,000 is taxed at 20%.Which tax structure is being applied to the 
individual's taxable income? 
Base 
Regressive 
Progressive 
Proportional - -Proportional 
Whi...
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Add to cartAn individual has taxable income of $60,000. The first $20,000 is taxed at 20%, the next $20,000 is taxed 
at 20%, and all income above $40,000 is taxed at 20%.Which tax structure is being applied to the 
individual's taxable income? 
Base 
Regressive 
Progressive 
Proportional - -Proportional 
Whi...
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