Bundle HR Block Exams| Questions & 100% correct Answers | verified

Frank's electric bill has a cycle day of the 3rd and a due date 8 days later with a one day grace period. What happens if Frank pays his electric bill on the 12th of the month? - His payment is received after the due date but he will not be assessed a late fee because of the grace period. On the...

List 4 Due Diligence Req's - 1) Complete (forms) 2) Keep 3) Knowledge 4) Document Earned income - Wages, tips, commissions, farming & other business income. $ for services

American Opportunity Credit - a tax credit of up to $2,500 per year per student $520 - due diligence tax preparer penalty per credit Child Tax Credit - a tax credit given for each qualifying child under 17

HR Block test |Questions& Answers A tax returner or claim for refund requiring a paid tax return preparer to determine eligibility for EITC, CTC/ODC/ ACTC, AOTC, and the head of household filling status may be subject to a maximum penalty, totaling what amount for failure to meet due diligence re...

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). - Have a valid social security number.

When asked "How much should I borrow in student loans?" the CFPB (Consumer Financial Protection Bureau) said this. A.) With loan consolidation more affordable than ever, borrow as much as you can get approved for B.) try not to accumulate more total student debt than you expect to earn as a sta...

What is the difference between earned income and unearned income? - Earned income is received for services performed. Some examples of earned income include wages, commissions, tips, farming, and other business income. Unearned income is taxable income that does not meet the definition of earned ...