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WGU C237 - TAXATION ONE EXAM QUESTIONS AND ANSWERS 2024
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WGU C237 - TAXATION ONE EXAM QUESTIONS AND ANSWERS 2024
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WGU C237 - TAXATION ONE EXAMWhich IRS form must an employee file with his or her employer to determine the
amount of federal tax to be withheld from the employee's pay?
A. Form W-4
B. Form W-2
C. Form 1099
D. Form 1040ES - ANSWERS-A. Form W-4
Which type of income is exempt from the federal income tax withholding rules?
A. Vacation pay
B. Taxable fringe benefits
C. Tips less than $20 per month
D. Commissions over $500 from employer - ANSWERS-C. Tips less than $20 per
month
, If a single taxpayer has $110,000 of taxable income and itemizes deductions,
which IRS tax form should the taxpayer use?
A. 1040
B. 4868
C. 1040A
D. 1040EZ - ANSWERS-A. 1040
Excluding the observance of Emancipation Day, what is the due date of a
calendar-year return if an IRS Form 4868 (Application for Automatic Extension)
has been filed?
A. April 15
B. June 15
C. September 15
D. October 15 - ANSWERS-D. October 15
An unmarried taxpayer's elderly mother lives with her. The taxpayer pays $200
per week to an adult care center to watch the mother while the taxpayer is at
work. The taxpayer's W-2 income is $54,000, her AGI is $50,000, and her taxable
income is $34,500.
AGI Over But not over Decimal amount is AGI Over But not over Decimal amount
is
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