H&R Block Income Tax Course Exam
Questions and Answers (Latest 2026)
Requirements that tax professionals must follow when
preparing income tax returns. - Correct Answers ✅Due
Diligence
The amount of tax a taxpayer expects to owe for the year
after subtracting expected amounts withheld and certain
refundable credits. - Correct Answers ✅Estimated Tax
A statement by an individual of (1) the amount of income tax
he estimates he will incur during the current taxable year on
income that is not subject to withholding, (2) the excess
amount over that withheld on income which is subject to
withholding, and (3) his estimated self-employment tax. -
Correct Answers ✅Estimated Tax Voucher
Status claimed on Form W-4 directing the employer not to
withhold federal income taxes from the employee. - Correct
Answers ✅Exemption from Withholding
If a taxpayer did not pay enough tax on a timely basis during
the year, he may be required to pay an underpayment
penalty. - Correct Answers ✅Underpayment Penalty
Withholding and Estimated Tax Payments - Correct Answers
✅Two Ways to Pay as You Go
,H&R Block Income Tax Course Exam
Questions and Answers (Latest 2026)
Employee's Withholding Allowance Certificate - Correct
Answers ✅Form W-4
Application for Automatic Extension of Time To File U.S.
Individual Income Tax Return - Correct Answers ✅Form
4868
A tax return filed on Form 1040X after the original return has
been filed. - Correct Answers ✅Amended Return
A tax year for which the statute of limitations has expired. -
Correct Answers ✅Closed Year
A taxable year for which the statute of limitations has not yet
expired. - Correct Answers ✅Open Year
Generally 5% for each month or part of a month the return is
late, but not more than 25% of the tax not paid. - Correct
Answers ✅Failure-to-File Penalty
Taxpayer fails to file the return by the due date, and there is a
balance due. - Correct Answers ✅Failure to File
Amended U.S. Individual Income Tax Return - Correct
Answers ✅Form 1040X
,H&R Block Income Tax Course Exam
Questions and Answers (Latest 2026)
Within three years of the date the original return was filed, or
within two years of the date the tax was paid, whichever is
later. - Correct Answers ✅When can an amended return be
filed?
No. - Correct Answers ✅Can the 1040X be e-filed?
Those from such sources as dividends, interest, capital gains
and losses, and royalties. - Correct Answers ✅Portfolio
Income and Losses
Supplemental Income and Loss - Correct Answers
✅Schedule E
Payments received for the right to extract natural resources
from the taxpayer's property or to use a taxpayer's literary,
musical, or artistic creation. - Correct Answers ✅Royalty
A series of payments under a contract made at regular
intervals over a period of more than one year. - Correct
Answers ✅Annuity
The owner or recipient of funds in an account, such as an IRA,
or from an insurance policy or will. - Correct Answers
✅Beneficiary
, H&R Block Income Tax Course Exam
Questions and Answers (Latest 2026)
When a person puts money into a retirement plan. - Correct
Answers ✅Contribution
An employee benefit plan that provides determinable benefits
not based on employer profits. - Correct Answers ✅Defined
Benefit Plan
An employee benefit plan that provides a separate account
for each person covered and pays benefits based on account
earnings. - Correct Answers ✅Defined Contribution Plan
A taxable pension from an employer-funded disability plan or
a disability provision of a retirement plan. - Correct Answers
✅Disability Pension
When a person takes or receives money from a retirement
plan. - Correct Answers ✅Distribution
Generally a series of definitely determinable payments made
to a taxpayer after retirement from work. - Correct Answers
✅Pension
A qualified transfer of funds from one tax-favored account to
another, usually of the same type. - Correct Answers
✅Rollover
Questions and Answers (Latest 2026)
Requirements that tax professionals must follow when
preparing income tax returns. - Correct Answers ✅Due
Diligence
The amount of tax a taxpayer expects to owe for the year
after subtracting expected amounts withheld and certain
refundable credits. - Correct Answers ✅Estimated Tax
A statement by an individual of (1) the amount of income tax
he estimates he will incur during the current taxable year on
income that is not subject to withholding, (2) the excess
amount over that withheld on income which is subject to
withholding, and (3) his estimated self-employment tax. -
Correct Answers ✅Estimated Tax Voucher
Status claimed on Form W-4 directing the employer not to
withhold federal income taxes from the employee. - Correct
Answers ✅Exemption from Withholding
If a taxpayer did not pay enough tax on a timely basis during
the year, he may be required to pay an underpayment
penalty. - Correct Answers ✅Underpayment Penalty
Withholding and Estimated Tax Payments - Correct Answers
✅Two Ways to Pay as You Go
,H&R Block Income Tax Course Exam
Questions and Answers (Latest 2026)
Employee's Withholding Allowance Certificate - Correct
Answers ✅Form W-4
Application for Automatic Extension of Time To File U.S.
Individual Income Tax Return - Correct Answers ✅Form
4868
A tax return filed on Form 1040X after the original return has
been filed. - Correct Answers ✅Amended Return
A tax year for which the statute of limitations has expired. -
Correct Answers ✅Closed Year
A taxable year for which the statute of limitations has not yet
expired. - Correct Answers ✅Open Year
Generally 5% for each month or part of a month the return is
late, but not more than 25% of the tax not paid. - Correct
Answers ✅Failure-to-File Penalty
Taxpayer fails to file the return by the due date, and there is a
balance due. - Correct Answers ✅Failure to File
Amended U.S. Individual Income Tax Return - Correct
Answers ✅Form 1040X
,H&R Block Income Tax Course Exam
Questions and Answers (Latest 2026)
Within three years of the date the original return was filed, or
within two years of the date the tax was paid, whichever is
later. - Correct Answers ✅When can an amended return be
filed?
No. - Correct Answers ✅Can the 1040X be e-filed?
Those from such sources as dividends, interest, capital gains
and losses, and royalties. - Correct Answers ✅Portfolio
Income and Losses
Supplemental Income and Loss - Correct Answers
✅Schedule E
Payments received for the right to extract natural resources
from the taxpayer's property or to use a taxpayer's literary,
musical, or artistic creation. - Correct Answers ✅Royalty
A series of payments under a contract made at regular
intervals over a period of more than one year. - Correct
Answers ✅Annuity
The owner or recipient of funds in an account, such as an IRA,
or from an insurance policy or will. - Correct Answers
✅Beneficiary
, H&R Block Income Tax Course Exam
Questions and Answers (Latest 2026)
When a person puts money into a retirement plan. - Correct
Answers ✅Contribution
An employee benefit plan that provides determinable benefits
not based on employer profits. - Correct Answers ✅Defined
Benefit Plan
An employee benefit plan that provides a separate account
for each person covered and pays benefits based on account
earnings. - Correct Answers ✅Defined Contribution Plan
A taxable pension from an employer-funded disability plan or
a disability provision of a retirement plan. - Correct Answers
✅Disability Pension
When a person takes or receives money from a retirement
plan. - Correct Answers ✅Distribution
Generally a series of definitely determinable payments made
to a taxpayer after retirement from work. - Correct Answers
✅Pension
A qualified transfer of funds from one tax-favored account to
another, usually of the same type. - Correct Answers
✅Rollover
