What is an excise tax - Study guides, Class notes & Summaries

S filed a written Proof of Loss for a Disability Income claim on September 1. The insurance company did not respond to the claim. S can take legal action against the insurer beginning: - November 1 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? - 50% The provision in a Group Health policy that allows the insurer to postpone coverage for a covered illness 30 days after th...

Series 79, Fact Sheet A company has reported risk factors on the annual 10-K, and there are material changes to those risk factors. What does the company do? - correct answer Report any material changes on the next 10-Q. (1) IRS Rule 388(h)(10 - correct answer Allows a purchaser to treat an equity acquisition as an asset sale for tax purposes. The purchaser would benefit from a stepped up basis as a result. (2) An acquirer pays a golden parachute to an executive of a target company in exc...

CPRP Exam Questions and Answers Rated A+ An agreement between two public agencies in usual Intergovernmental Joint Use A statement of desired outcomes obtained from participating in the program Goal Focus Group is an example of what kind of data? Qualitative Observation is an example of what kind of data? Qualitative The overall rationale for this agency's involvement in programming. Statement of agency or unit programming philosophy A short-term relationship to solve a sp...

Health Insurance State Exam Simulator Questions and Answers 100% Pass Which of the following does Social Security NOT provide benefits for? Dismemberment The Affordable Care Act (ACA) provides health coverage to dependents up to the age of: 26 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? 50% Which of the following statements is correct regarding an employer/employee grou...

After reinstatement of the individual federal income tax in 1894, why was the tax challenged in the courts? A. Revenue from taxes was no longer necessary because the Civil War was over. B. Administration would be difficult since the tax was apportioned in proportion to state populations. C. The preferred method of taxation was on business transactions as opposed to individual income tax. D. The U.S. Constitution failed to define the meaning of income which would arguably prevent cons...

Asset Allocation should conform to an individual's _____________ - Answer-risk tolerance A springing durable power of attorney is effective only on a _____________________ - Answerconditional event What is the minimum age for receiving Social Security benefits? - Answer-62 Assume Greg inherits stock from his father that he purchased at $50 per share and it appreciated to $75 per share by the date of his father's death. At the time the estate settled one year later, the stock had declined ...

Which of the following does Social Security NOT provide benefits for? - Answer Dismemberment The Affordable Care Act (ACA) provides health coverage to dependents up to the age of: - Answer 26 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? - Answer 50% Which of the following statements is correct regarding an employer/employee group health plan? - Answer the e...

7 Ways Wine Can be Classified - ️️Color, Grape Variety, Price, Place of Origin Sweetness, CO2, and Alcohol level What Kind of Wines are Taxed Higher than Still Wines? - ️️Sparkling and dessert Alcohol taxation in the US includes... - ️️Federal Excise Tax + State Tax produced during fermentation - ️️ethanol and CO2 effervescence - ️️bubbles / fizz still wine - ️️contains less than an atmosphere of carbon dioxide (>3.92 grams of carbon dioxide per liter) ...

Which of the following does Social Security NOT provide benefits for? - Answer Dismemberment The Affordable Care Act (ACA) provides health coverage to dependents up to the age of: - Answer 26 What is the excise tax rate the IRS imposes on individuals aged 70 1/2 or older who do not take the required minimum distributions from their qualified retirement plan? - Answer 50% Which of the following statements is correct regarding an employer/employee group health plan? - Answer the e...

Wise Test Questions and Answers Already Passed What type of transaction occurs when someone uses a pawnshop to get immediate cash for an item? This is known as a secured loan where the item serves as collateral. For someone to qualify for an FHA mortgage, what is usually required? They must generally meet specified income criteria. If an individual has substantial unpaid credit card debt and cannot make payments, what is the recommended course of action? They should infor...