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Certified Tax Preparer (Ctp) With Complete Solutions And Correct Answers Latest Version
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Certified Tax Preparer (Ctp) With Complete Solutions And Correct Answers Latest Version
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Certified Tax Preparer (Ctp) With CompleteSolutions And Correct Answers Latest
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TAX HISTORY Answer: * 1861 - Civil War Congress passed Revenue Act of 1861, personal income tax
to help pay war expenses
1 year latter repelled
*President Lincoln created commissioner position of Internal Revenue.
* 1894 Flat Ax, repelled 1 year latter
* 1909 - 16th Amendment passed by Congress on July 2, ratified February 3, 1913.
TAX LAW Answer: * Article 1, Section 7 of the US Constitution
* All revenue bills must originate in the House of Representatives.
* Within the House of Representatives, revenue bills are dealt with by the House Ways and Means
Committee.
* The Ways and Means Committee initially writes a tax law bill.
*Rules Committee controls when new legislation goes to the House for ratification.
* If passed, the tax law bill may be considered by the Senate.
* Senate Finance Committee has jurisdiction over tax law bills.
* Fifty-one votes are needed to pass a bill in the Senate.
* The IRS commissioner and Chief Counsel are selected by the President and confirmed by the Senate.
16th AMENDMENT Answer: * 1913 Wyoming ratified
* Gave Congress the authority to enact income tax.
2024
, IRS Answer: * Bureau of Internal Revenue changed to Internal Revenue Service
* IRS Commissioner and Chief Counsel are selected by the President and confirmed by the Senate.
* IRS Restructuring and Reform Act of 1998 - reorganization of IRS.
REVIEW PRIOR RETURN Answer: * Review the taxpayer's return from last year for accuracy for
comparison to the current year return.
• Tax loss carry forward information.
• Withholding information.
• Information about how certain income may have been treated, such as capital gains or traditional
income.
* Certain items from the prior year return may be needed to complete the current-year return.
COLLECTION OF BIOGRAPHICAL INFORMATION Answer: * Get taxpayers official ID: License,
Passport, etc
* US Citizen - Born in US or naturalized Alien, born in Puerto Rico, born in Guam, born in US Virgin
Islands
* US National - born in American Samoa or Commonwealth of Northern Marina Islands.
* Alien - Not US Citizen or US National
Immigrant - Alien with rights to perminently reside and work in US (Lawful Permanent Resident- LPR)
* Illegal Alien - Undocumented alien who is in the country illegally or entered legally and visa expired.
* Non Immigrant Visa - Special categories under which a person is admitted to the US - Student Visa,
Work Visa, Diplomat, etc
* Visa Waiver Program - Enables citizens of participating countries to travel to the United States for
tourism or business for 90 days or less without obtaining a US visa.
Filing Status Answer: 1. Single
2. Married filing jointly
2024
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