Vita basic - Study guides, Class notes & Summaries

Ficep Final: CUNA Review Questions And Answers | Complete Solution Graded A Select the statement that correctly describes a progressive tax. - answerA progressive tax requires people to pay more as they earn more. Pick the statement that best describes a regressive tax. - answerA regressive tax charges the same tax rate regardless of the taxpayer's income. Why are government fees and surcharges sometimes described as a form of tax? - answerBecause they generate income for the government....

VITA Basic Prep Exam Questions & Answers If your filing status is single and you are under 65 at the end of 2022, file a return if your income was at least: - ANS - $12,950 If your filing status is single and you were 65 or older at the end of 2022, file a return if your income was at least: - ANS - $14,700 If your filing status is married filing jointly and you were under 65 (both spouses) at the end of 2022, file a return if your income was at least: - ANS - $25,900 If your fil...

2024 VITA Basic Exam Questions and Answers 2024/2025 Verified Answers VITA Basic Exam What is the most advantageous filing status allowable that Joe can claim on his taxreturn for 2021? - ANS-Head of Household Joe can claim a higher standard deduction because he is blind. - ANS-True Chris and Marcie cannot claim the Earned Income Tax Credit (EITC) because theyare too young and have no qualifying children. - ANS-false Chris and Marcie must claim the EIP3 of $2,800 as taxable income o...

VITA BASIC EXAM 2024...

VITA BASIC EXAM 2024 WITH 100% CORRECT ANSWERS What is the most advantageous filing status allowable that Joe can claim on his taxreturn for 2021? - correct answer Head of Household Joe can claim a higher standard deduction because he is blind. - correct answer True Chris and Marcie cannot claim the Earned Income Tax Credit (EITC) because theyare too young and have no qualifying children. - correct answer false Chris and Marcie must claim the EIP3 of $2,800 as taxable income on their...

2024 VITA Basic Exam Test New Latest Version with All Questions from Actual Past Exam and 100% Correct Answers

Jeff may need to make a shared responsibility payment FALSE Linda does not need to make a shared responsibility payment because she qualifies for an exemption under the short coverage gap criteria TRUE Ava cannot claim her son for the earned income credit because he did not live with her for more than half the year and does not meet the residency test. FALSE, attendance at school is considered temporary absence and this time is counted as time that her child lived with her. David is Ava...

VITA Basic Exam Questions & Answers What is the most advantageous filing status allowable that Joe can claim on his tax return for 2021? - ANS - Head of Household Joe can claim a higher standard deduction because he is blind. - ANS - True Chris and Marcie cannot claim the Earned Income Tax Credit (EITC) because they are too young and have no qualifying children. - ANS - false Chris and Marcie must claim the EIP3 of $2,800 as taxable income on their 2021 tax return. - ANS - fal...