VITA 2024 ADVANCED TEST correct Questions & Answers!!(COMPLETE FULL PACK SOLUTION)EXAM BUNDLE

Head of Household - ANSWER 1. What is the most beneficial filing status that Karen is eligible to claim on her 2021 tax return? False - ANSWER 2. Karen's Economic Impact Payment (EIP3) must be included in her total income. $300 - ANSWER 3. What amount may Karen deduct as a charitable contrib...

1. Tamara and her ex-husband's divorce was final before December 31, 2018.How does this affect their 2019 tax returns? - ANSWER d. Tamara is allowed to deduct the alimony paid as an adjustment to income.Her ex-husband is required to include the alimony received as income. 2.What is the most bene...

Which of the following is a violation of the Volunteer Standards of Conduct? a . Knowingly preparing a false tax return b . Having a donation/tip jar in the taxpayer waiting area at the site c . Using taxpayer's personal information to ask for a date d. All of the above - ANSWER d. All of the a...

VOLUNTEER STANDARDS OF CONTUCT RETEST QUESTIONS 1. Which volunteers must pass the Volunteer Standards of Conduct (VSC) certification test? - ANSWER All VITA/TCE site volunteers must pass the VSC certification test 2. Failure of a VITA/TCE volunteer to comply with the Volunteer Standards of Con...

Maximum Foreign Income Exclusion (Changes to 2016) - ANSWER Increased to $101,300 Maximum Foreign Housing Exclusion (Changes to 2016) - ANSWER Increased to $44.28 per day Modified Adjusted Gross (AGI) Limit (IRAs and Other Retirement Plans) - ANSWER *Max IRA Deduction remains at $5,500, ($6500...

To ensure quality service and accurate return preparation, every site is required to have a process for assigning taxpayers to IRS tax law-certified preparers who are certified at or above the level required to prepare their tax return. a. True b. False - ANSWER a. True During the intake process...

1. Prior to working at a VITA/TCE site, ALL VITA/TCE volunteers (greeters, client facilitators, tax preparers, quality reviewers, etc.) must: - ANSWER E. A and B 2Can a volunteer be removed and barred from the VITA/TCE Programs for violating the Volunteer Standards of Conduct? - ANSWER Yes 3.I...

1. Rebecca's most beneficial allowable filing status is Head of Household. - ANSWER false 2. Rebecca has $_______ in qualifying child care expenses for the child and dependent care credit.. - ANSWER 2500 3. Pat and Terri are only eligible to claim the child tax credit on their 2020 tax return...

What is the most advantageous filing status allowable that Joe can claim on his taxreturn for 2021? - ANSWER Head of Household Joe can claim a higher standard deduction because he is blind. - ANSWER True Chris and Marcie cannot claim the Earned Income Tax Credit (EITC) because theyare too youn...

All IRS-certified volunteer preparers participating in the VITA/TEC Programs MUST use form 13614-C along with an effective interview for every return prepared at the site. - ANSWER True What should the certified volunteer preparer do before starting the tax return? - ANSWER -Make sure all questio...

True or False: Only volunteers who prepare and review tax returns are required to complete the Volunteer Standards of Conduct Training and certification. - ANSWER False True or False: Volunteers are generally held liable for the tax returns they prepare at VITA/TCE sites - ANSWER False True or...

1. What is the most beneficial filing status that Karen is eligible to claim on her 2021 taxreturn? - ANSWER Head of Household 2. Karen's Economic Impact Payment (EIP3) must be included in her total income. - ANSWER False 3. What amount may Karen deduct as a charitable contribution when filin...