Pre refunded bonds - Study guides, Class notes & Summaries

Tax Equivalent Yield - ANSWER The return that a taxable bond would need to yield in order to equal the yield on a tax free bond Tax Equivalent yield = Municipal bond yield / (1-tax rate) General Obligation Bonds - ANSWER a municipal bond that is backed by the issuer's full faith and credit or full taxing authority, with no project cited as the source of funds with which to repay the bond obligation --> may be paid back by tax revenues, fees, or the issuances of new securities Revenue ...

Circular 230 - Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure - The release of tax information by an IRS employee. Due Diligence - Requirements that tax professionals must follow when preparing income tax returns. Noncompliance - Failure or refusal to comply with the tax code. Privilege - Protection from being required to disclose confidential communications between two parties, suc...

STRIPS may be attractive to investors for which of the following reasons? A. They offer semi-annual interest payments B. The securities are tax-free until they mature C. They carry almost no reinvestment risk D. They are offered at only a 20 year maturity which is a maturity that is not offered by traditional Treasury securities - ANSWER-C. They carry almost no reinvestment risk The Alternative Minimum Tax (AMT): A. Adds back in certain "tax preference items" that are deducted for ...

1 H&R BLOCK INCOME TAX COURSE EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Circular 230 Correct Answer: Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure Correct Answer: The release of tax information by an IRS employee. Due Diligence Correct Answer: Requirements that tax professionals must follow when preparing income tax returns. Noncompliance Corr...

H&R Block Income Tax Course QUESTIONS AND ANSWERS ALL VERIFIED H&R Block Income Tax Course Circular 230 - ANS Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure - ANS The release of tax information by an IRS employee. Due Diligence - ANS Requirements that tax professionals must follow when preparing income tax returns. Noncompliance - ANS Failure or refusal to co...

Master Series 7 Exam Practice (Questions And Answers 2023-2024) A customer buys AC Growth Fund and enjoys a substantial paper capital gain. When he believes the market has reached its peak, he switches into AC Income Fund within the AC family of funds. He incurs a small service fee but is not charged an additional sales charge. What is the tax effect? A) Any gain or loss is deferred until he liquidates the AC Income Fund. B) Any gain in AC Growth Fund is taxable because the exchange ...