Ashford ACC 401 ACC401 Week 1 Quiz Answers
ACC 401 Week 1 Quiz
- Alice is an employee of Valley Company. She properly completed her Form 1040EZ tax return and received a refund from the IRS of $1,293. Alice had income tax withholding during the year of $4,881. Her tax liability for the year was:
- What was the amount of the personal exemption for 2014?
- Which of the following is correct with respect to Private Letter Rulings?
- Criminal penalties only apply to
- Which condition listed below is not required for a taxpayer to qualify as a qualifying widow(er) with dependent child?
- If Tom, an accountant, agrees to provide accounting services to Fred, a friend, in exchange for Fred fixing Tom's office floor, then:
- Under the provisions of Circular 230, paid tax preparers must:
- Which of the following is a statutory source of tax authority?
- If an attorney performs some estate tax work for a client and the client agrees to pay $4,000 to him and $3,000 to a local financial institution for a debt the attorney owes, the attorney has income of:
- John forgot to file his tax return by April 15. He did not file an extension. John finally filed his tax return on June 30 and had a remaining tax liability of $1,500. What is John's failure to file penalty? Assume he made all his payments on time.