{"id":121327,"date":"2023-10-19T05:15:45","date_gmt":"2023-10-19T05:15:45","guid":{"rendered":"https:\/\/learnexams.com\/blog\/?p=121327"},"modified":"2023-10-19T05:15:46","modified_gmt":"2023-10-19T05:15:46","slug":"test-bank-for-south-western-federal-taxation-2022-individual-income-taxes-45th-edition-by-james-c-young-annette-nellen-complete-chapters-1-20-100-verified","status":"publish","type":"post","link":"https:\/\/www.learnexams.com\/blog\/2023\/10\/19\/test-bank-for-south-western-federal-taxation-2022-individual-income-taxes-45th-edition-by-james-c-young-annette-nellen-complete-chapters-1-20-100-verified\/","title":{"rendered":"TEST BANK For South-Western Federal Taxation 2022 Individual Income Taxes 45th Edition by James C. Young, Annette Nellen | Complete Chapter’s 1 – 20 | 100 % Verified"},"content":{"rendered":"\n

Copyright Cengage Learning. Powered by Cognero. Page 1
Test Bank For South-Western Federal Taxation 2022 Individual Income Taxes
45th Edition by James C. Young, Annette Nellen<\/p>\n\n\n\n

Copyright Cengage Learning. Powered by Cognero. Page 2
TEST BANK FOR
South-Western Federal Taxation 2022 Individual Income Taxes, 45th Edition
Chapter 1-20
Name: Class: Date:
chapter 1
Indicate whether the statement is true or false.<\/p>\n\n\n\n

    \n
  1. If a special agent becomes involved in the audit of a return, this indicates that the IRS suspects that fraud is involved.
    a. True
    b. False<\/li>\n\n\n\n
  2. To lessen or eliminate the effect of multiple taxation, a taxpayer who is subject to both foreign and U.S. income taxes
    on the same income is allowed either a deduction or a credit for the foreign tax paid.
    a. True
    b. False<\/li>\n\n\n\n
  3. On occasion, Congress has to enact legislation that clarifies the tax law in order to change a result reached by the U.S.
    Supreme Court.
    a. True
    b. False<\/li>\n\n\n\n
  4. No state may offer an income tax amnesty program more than once.
    a. True
    b. False<\/li>\n\n\n\n
  5. When interest is charged on a deficiency, any part of a month counts as a full month.
    a. True
    b. False<\/li>\n\n\n\n
  6. Stealth taxes have the effect of generating additional taxes from all taxpayers.
    a. True
    b. False<\/li>\n\n\n\n
  7. The amount of a taxpayer\u2019s itemized deductions will increase the chance of being audited by the IRS.
    a. True
    b. False<\/li>\n\n\n\n
  8. The majority of IRS audits are handled by correspondence.
    a. True
    b. False<\/li>\n\n\n\n
  9. A safe and easy way for a taxpayer to avoid local and state sales taxes is to make the purchase in a state that levies no
    such taxes.<\/li>\n<\/ol>\n\n\n\n

    Copyright Cengage Learning. Powered by Cognero. Page 3
    a. True
    b. False<\/p>\n\n\n\n

      \n
    1. The civil fraud penalty can entail large fines and possible incarceration.
      a. True
      b. False<\/li>\n\n\n\n
    2. As a matter of administrative convenience, the IRS would prefer to have Congress decrease (rather than increase) the
      amount of the standard deduction allowed to individual taxpayers.
      a. True
      b. False<\/li>\n\n\n\n
    3. To mitigate the effect of the annual accounting period concept, the tax law permits the carryforward of excess
      charitable contributions of a particular year to other years.
      a. True
      b. False<\/li>\n\n\n\n
    4. There is a Federal excise tax on hotel occupancy.
      a. True
      b. False<\/li>\n\n\n\n
    5. Currently, the tax base for the Social Security component of the FICA is not limited to a dollar amount.
      a. True
      b. False<\/li>\n\n\n\n
    6. Currently, the Federal corporate income tax is less progressive than the individual income tax.
      a. True
      b. False<\/li>\n\n\n\n
    7. The Federal excise tax on gasoline is an example of a proportional tax.
      a. True
      b. False<\/li>\n\n\n\n
    8. The tax law provides various tax credits, deductions, and exclusions that are designed to encourage taxpayers to obtain
      additional education. These provisions can be justified on both economic and equity grounds.
      a. True
      b. False<\/li>\n\n\n\n
    9. If more IRS audits are producing a higher number of no change results, this indicates increased compliance on the part
      of taxpayers.
      a. True
      b. False<\/li>\n\n\n\n
    10. In preparing a tax return, all questions on the return must be answered.
      a. True
      b. False<\/li>\n\n\n\n
    11. If a taxpayer files early (i.e., before the due date of the return), the statute of limitations on assessments begins on the
      date the return is filed.<\/li>\n<\/ol>\n\n\n\n

      Copyright Cengage Learning. Powered by Cognero. Page 4
      a. True
      b. False<\/p>\n\n\n\n

        \n
      1. Even though a client refuses to correct an error on a past return, it may be possible for a practitioner to continue to
        prepare returns for the client.
        a. True
        b. False<\/li>\n\n\n\n
      2. The formula for the Federal income tax on corporations is the same as that applicable to individuals.
        a. True
        b. False<\/li>\n\n\n\n
      3. The annual exclusion, currently $15,000, is available for gift and estate tax purposes.
        a. True
        b. False<\/li>\n\n\n\n
      4. One of the major reasons for the enactment of the Federal estate tax was to prevent large amounts of wealth from
        being accumulated within a family unit.
        a. True
        b. False<\/li>\n\n\n\n
      5. Under state amnesty programs, all delinquent and unpaid income taxes are forgiven.
        a. True
        b. False<\/li>\n\n\n\n
      6. For state income tax purposes, a majority of states allow a deduction for Federal income taxes.
        a. True
        b. False<\/li>\n\n\n\n
      7. The IRS is required to redetermine the interest rate on underpayments and overpayments once a year.
        a. True
        b. False<\/li>\n\n\n\n
      8. A state income tax can be imposed on nonresident taxpayers who earn income within the state on an itinerant basis.
        a. True
        b. False<\/li>\n\n\n\n
      9. A major advantage of a flat tax type of income tax is its simplicity.
        a. True
        b. False<\/li>\n\n\n\n
      10. Various tax provisions encourage the creation of certain types of retirement plans. Such provisions can be justified on
        both economic and social grounds.
        a. True
        b. False<\/li>\n\n\n\n
      11. One of the motivations for making a gift is to save on income taxes.
        a. True
        b. False
        download pdf at https:\/\/learnexams.com\/search\/study?query=aqa<\/a><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

        Copyright Cengage Learning. Powered by Cognero. Page 1Test Bank For South-Western Federal Taxation 2022 Individual Income Taxes45th Edition by James C. Young, Annette Nellen Copyright Cengage Learning. Powered by Cognero. Page 2TEST BANK FORSouth-Western Federal Taxation 2022 Individual Income Taxes, 45th EditionChapter 1-20Name: Class: Date:chapter 1Indicate whether the statement is true or false. Copyright Cengage […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[25],"tags":[],"class_list":["post-121327","post","type-post","status-publish","format-standard","hentry","category-exams-certification"],"_links":{"self":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/121327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/comments?post=121327"}],"version-history":[{"count":0,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/posts\/121327\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/media?parent=121327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/categories?post=121327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.learnexams.com\/blog\/wp-json\/wp\/v2\/tags?post=121327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}