VITA Exam Bundle(Graded A+)

Things all volunteers must do - Answer-pass the Volunteer Standards of Conduct (VSC) Test, sign the VSC agreement, pass with a BASIC certification or above Can a volunteer be removed/banned for violating the Volunteer Standards of Conduct? - Answer-yes If a taxpayer offers you a $20 bill becau...

vita - Answer-life revitalize - Answer-to bring something back after it declined in condition or popularity; to breathe new life into something revive - Answer-to bring back to life again survival - Answer-the ability to continue living survivor - Answer-a person who lives through a diff...

Form 1040 - Answer-Summary document for entire tax return Gross Income - Answer-Income in form of money, goods, property, services (not exempt from tax) Adjustments - Answer-Amount that reduces gross income (AKA "above the line deductions") Adjusted Gross Income - Answer-Gross income minu...

What weighted average of scores must volunteers get on weekly quizzes? A) 100% B) 80% C) 65% D) 70% - Answer-D) 70% (T/F) You are allowed to Quality Review a tax return that you filed. - Answer-False How many volunteer hours are required during Winter and Spring Quarters respectively? A) ...

Jeff does not have to make a shared responsibility payment because he was covered by a health insurance plan through his employer for the full tax year. - Answer-TRUE Linda must make a shared responsibility payment because she did not have qualified healthcare coverage all year - Answer-FALSE ...

Which of the following taxpayers is NOT eligible for our VITA services? - taxpayer is a citizen or resident alien - taxpayer has an income of $80,000 -taxpayer mad a purchase on etsy using bitcoin -taxpayer has $3000 in business expenses -taxpayer has income from working a farm -taxpayer uses ...

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...

1. Hans entered the U.S. on December 15, 2012 in F-1 immigration status. He had never been to the United States before and he did not change immigration status during 2017. For federal income tax purposes, Hans is a nonresident alien for 2017. - Answer-False (Correct0 2. Abshir is a visiting prof...

.Ken entered the U.S. as a student on July 30, 2018 in F-1 immigration status. He had never been to the United States before and he did not change immigration status during 2021. For federal income tax purposes, Ken is a resident alien for 2021. - Answer-false Helen is a visiting professor at the...

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. 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...

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 t...

Calvin has qualifying health insurance coverage (also known as minimum essential coverage) as defined under the Affordable Care Act. - Answer-True Calvin and Betty may need to make a shared responsibility payment on their joint return if they don't qualify for an exemption. - Answer-True Who ...

Jeff may need to make a shared responsibility payment - Answer-FALSE Linda does not need to make a shared responsibility payment because she qualifies for an exemption under the short coverage gap criteria - Answer-TRUE Ava cannot claim her son for the earned income credit because he did not l...