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TEST BANK for South-Western Federal Taxation 2023: Individual Income Taxes 46th Edition by James Young, Annette Nellen, William Raabe, Mark Persellin, Sharon Lassar & Andrew D. Cuccia. A+$14.99
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TEST BANK for South-Western Federal Taxation 2023: Individual Income Taxes 46th Edition by James Young, Annette Nellen, William Raabe, Mark Persellin, Sharon Lassar & Andrew D. Cuccia. A+
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South-Western Federal Taxation 2023
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South-Western Federal Taxation 2023
TEST BANK for South-Western Federal Taxation 2023: Individual Income Taxes 46th Edition by James Young, Annette Nellen, William Raabe, Mark Persellin, Sharon Lassar & Andrew D. Cuccia. A+
Test Bank For South-Western Federal Taxation 2023 Comprehensive, 46th Edition by Annette Nellen, Andrew D. Cuccia, Mark Persellin, James C. Young Chapter 1-28
Test Bank for South-Western Federal Taxation 2025: Comprehensive, 48th Edition by (Young/Persellin) ISBN: 9780357988817, All 30 Chapters Covered, Verified Latest Edition
Test Bank for South-Western Federal Taxation 2025: Comprehensive, 48th Edition by (Young/Persellin) ISBN: 9780357988817, All 30 Chapters Covered, Verified Latest Edition
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Test Bank and Solutions For South-Western Federal Taxation 2023, Comprehensive 46th Edition By James Young
lOMoAR cPSD| 30878495
Test Bank and Solutions for South-Western Federal
Taxation 2023, Comprehensive 46th Edition by James
Young
Test Bank Page 1
, Test Bank and Solutions For South-Western Federal Taxation 2023, Comprehensive 46th Edition By James Young
Chap 01_2023_46e
Indicate whether the statement is true or false.
1. Unlike FICA, FUTA requires that employers comply with state as well as Federal rules.
a. True
b. False
2. On transfers by death, the Federal government relies on an estate tax, while states may impose an estate tax, an
inheritance tax, both taxes, or neither tax.
a. True
b. False
3. The civil fraud penalty can entail large fines and possible incarceration.
a. True
b. False
4. Ultimately, most taxes are paid by individuals.
a. True
b. False
5. Mona inherits her mother’s personal residence, which she converts to a furnished rental house. These
changes should affect the amount of ad valorem property taxes levied on the properties.
a. True
b. False
6. When a state decouples from a Federal tax provision, it means that this provision will not apply for state
income tax purposes.
a. True
Test Bank Page 2
, Test Bank and Solutions For South-Western Federal Taxation 2023, Comprehensive 46th Edition By James Young
b. False
7. No state may offer an income tax amnesty program more than once.
a. True
b. False
8. A fixture will be subject to the ad valorem tax on personalty rather than the ad valorem tax on realty.
a. True
b. False
9. As a matter of administrative convenience, the IRS would prefer to have Congress decrease (rather than
increase) the amount of the standard deduction allowed to individual taxpayers.
a. True
b. False
10. A tax cut enacted by Congress that contains a sunset provision will make the tax cut temporary.
a. True
b. False
11. The objective of pay-as-you-go (paygo) is to improve administrative feasibility.
a. True
b. False
12. To mitigate the effect of the annual accounting period concept, the tax law permits the carryforward of excess
charitable contributions of a particular year to other years.
a. True
b. False
13. Various tax provisions encourage the creation of certain types of retirement plans. Such provisions can be
justified on both economic and social grounds.
a. True
Test Bank Page 3
, Test Bank and Solutions For South-Western Federal Taxation 2023, Comprehensive 46th Edition By James Young
b. False
14. A CPA firm in California sends many of its less complex tax returns to be prepared by a group of accountants
in India. If certain procedures are followed, this outsourcing of tax return preparation is proper.
a. True
b. False
15. A major advantage of a flat tax type of income tax is its simplicity.
a. True
b. False
16. If more IRS audits are producing a higher number of no change results, this indicates increased compliance on
the part of taxpayers.
a. True
b. False
17. An inheritance tax is a tax on a decedent’s right to pass property at death.
a. True
b. False
18. Upon audit by the IRS, Faith is assessed a deficiency of $40,000 of which $25,000 is attributable to negligence.
The 20% negligence penalty will apply to $25,000.
a. True
b. False
19. If fraud is involved, there is no time limit on the assessment of a deficiency by the IRS.
a. True
b. False
20. When Congress enacts a tax cut that is phased in over a period of years, revenue neutrality is achieved.
a. True
b. False
Test Bank Page 4
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