Federal Income Tax Practice ch2

Henry filed his 2016 tax return on May 15th, 2017. The statute of limitations for IRS assessment on Henry's 2016 tax return should end: May 15th, 2019. April 15th, 2019. May 15th, 2020. April 15th, 2020. None of the above.

May 15th, 2020.

Allen filed his 2016 tax return on May 15th, 2017 and underreported his gross income by 30 percent. Assuming Allen's underreporting is not due to fraud, the statute of limitations for IRS assessment on Allen's 2016 tax return should end: May 15th, 2019. April 15th, 2019. May 15th, 2020. April 15th, 2020. None of the above.

None of the above.

Martin has never filed a 2016 tax return despite earning approximately $20,000 providing landscaping work in the community. In what tax year, will the statute of limitations expire for Martin's 2016 tax return? 2019. 2020. 2023. 2024. None of the above.

None of the above.

Corporations are required to file a tax return only if their taxable income is greater than: $0. $1,000. $600. $750. None of the above. Corporations are always required to file a tax return.

None of the above. Corporations are always required to file a tax return.

Lavonda discovered that the U.S. Circuit Court of Appeals for the Federal Circuit has recently issued a favorable opinion with respect to an issue that she is going to litigate with the IRS. Lavonda should choose which of the following trial courts to hear her case? Tax Court only. U.S. Court of Federal Claims only. U.S. District Court only. Tax Court or the U.S. District Court. Tax Court or the U.S. Court of Federal Claims.

U.S. Court of Federal Claims only.Fe

Dominic earned $1,500 this year, and his employer withheld $200 of federal income tax from his salary. Dominic is single and 30 years old. Assuming that Dominic will have zero tax liability this year, he: is required to file a tax return. is not required to file a tax return but should file a return anyway. is required to file a tax return but should not file because he owes no tax. is not required to file a tax return and should not file a return. None of the above.

is not required to file a tax return but should file a return anyway.

Greg earned $20,500 this year and had $1,500 of federal income taxes withheld from his salary. Greg is single and 30 years old. Assuming that Greg will have a total tax liability of $1,000 (and thus will receive a $500) refund, he: is required to file a tax return. is not required to file a tax return but should file a return anyway. is required to file a tax return but should not file because he owes no tax. is not required to file a tax return and should not file a return. None of the above.

is required to file a tax return.

If Lindley requests an extension to file her individual tax return, the latest she could pay her tax due without penalty is: April 15th. October 15th. August 15th. November 15th. None of the above.

April 15th.

Generally, if April 15th falls on a Saturday, individual tax returns will be due on: April 14th. April 15th. April 16th. April 17th. None of the above.

April 17th

Dan received a letter from the IRS that gave him the choice of (1) requesting a conference with an Appeals Officer or (2) agreeing to a proposed tax adjustment. Dan received the: 30-day letter. 90-day letter. Appeals letter. Tax adjustment letter. None of the above.

30-day letter.

Basu received a letter from the IRS that gave him the choice of (1) paying a proposed deficiency or (2) filing a petition with the U.S. Tax Court. Basu received the: 30-day letter. 90-day letter. Appeals letter. Tax adjustment letter. None of the above.

90-day letter.

Lavonda discovered that the 5th Circuit (where Lavonda resides) has recently issued a favorable opinion with respect to an issue that she is going to litigate with the IRS. Lavonda should choose which of the following trial courts to hear her case? Tax Court only. U.S. Court of Federal Claims only. U.S. District Court only. Tax Court or the U.S. District Court. Tax Court or the U.S. Court of Federal Claims.

Tax Court or the U.S. District Court.

Which of the following is not a factor that determines whether a taxpayer is required to file a tax return? Filing status. Taxpayer's gross income. Taxpayer's employment. Taxpayer's age. None of the above

Taxpayer's employment.