Eic due diligence failure - Study guides, Class notes & Summaries

H&R Block Income Tax Course Questions And Answers With Verified Solutions (Graded A+)

Comprehensive Module 2 Final Exam Part 1 2021 complete exam solution Copyright © 2021, The Income Tax School, Inc. – All Rights Reserved FE - 1 Comprehensive Module 2: Final Exam 1. Don is a single parent. His son is 19 (not a student), and his daughter is 17 (still a student). Don claimed EIC on his tax return for both children. He later received a letter from the Internal Revenue Service which disallowed EIC for his son. The letter also stated that Don’s claim was an error due to r...

1 HR BLOCK FINAL TEST REVIEW (ITC 2022) EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Which of the following is a requirement for all taxpayers who want to claim the EIC? Live in the U.S. for more than half a year. Have a valid social security number. Have a qualifying child dependent. Have AGI less than $21,430 ($27,380 MFJ). Correct Answer: Have a valid social security number. A combined due diligence penalty of $2,180 would indicate a penalty for which of the...

1 H & R BLOCK STUDY QUIZ CH 1-11 | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+ Which of the following dependent relatives does not have to live in the same household with the taxpayer at any time during the year to qualify the taxpayer for head of household status? Aunt,mother,brother, married child? Correct Answer: Mother Ronald and Sue Dobbins, a married couple, were both 61 years old when Ronald died on January 1, 2017. Sue did not remarry. How many personal exemp...

FINAL EXAM:2023 TAX 1 Comprehensive Module 2 Final Exam WITH RATIONALE 1. Lucy had the following income in tax year 2021: Wages $25,900, interest income of $1,300 and strike benefits paid by the union of $1,700. For purposes of EIC, how much is considered earned income? a) $27,200 b) $25,900 c) $27,600 d) $30,200 2. Walt was a tax preparer who neglected to complete Form 8867 or record information needed for the return Rick fraudulently claimed the children for EIC purposes. After t...

Tax for HR Block Test Questions With All Correct Detailed Answers Describe Gross Income - ANSWER- All income from whatever source derived, unless excluded from taxation by law. Describe Earned Income - ANSWER- Income received for services performed, including wages, commissions, tips, and, generally, farming and other business income. Filling requirements differ based on the following - ANSWER- Nondependents. Dependents. Certain children under age 19 or full-time students under age 24. ...

Accounting Comprehensive Module 2 Final Exam Part 1 2021 complete exam solution 1. Don is a single parent. His son is 19 (not a student), and his daughter is 17 (still a student). Don claimed EIC on his tax return for both children. He later received a letter from the Internal Revenue Service which disallowed EIC for his son. The letter also stated that Don’s claim was an error due to reckless or intentional disregard of the EIC rules. For how many years will Don be denied EIC? a) 10 years b) ...

Comprehensive Module 2 Final Exam Part 1 2021 complete exam solution GRADED A+ Comprehensive Module 2: Final Exam 1. Don is a single parent. His son is 19 (not a student), and his daughter is 17 (still a student). Don claimed EIC on his tax return for both children. He later received a letter from the Internal Revenue Service which disallowed EIC for his son. The letter also stated that Don’s claim was an error due to reckless or intentional disregard of the EIC rules. For how many years ...

1. Don is a single parent. His son is 19 (not a student), and his daughter is 17 (still a student). Don claimed EIC on his tax return for both children. He later received a letter from the Internal Revenue Service which disallowed EIC for his son. The letter also stated that Don’s claim was an error due to reckless or intentional disregard of the EIC rules. For how many years will Don be denied EIC? a) 10 years b) 5 years c) 2 years d) 1 year 2. Last year Rick fraudulently claimed his ...

Comprehensive Module 2 Final Exam Part 1 2021 complete exam solution Copyright © 2021, The Income Tax School, Inc. – All Rights Reserved FE - 1 Comprehensive Module 2: Final Exam 1. Don is a single parent. His son is 19 (not a student), and his daughter is 17 (still a student). Don claimed EIC on his tax return for both children. He later received a letter from the Internal Revenue Service which disallowed EIC for his son. The letter also stated that Don’s claim was an error due to reckless...