WGU C237 - TAXATION ONE EXAM QUESTIONS AND ANSWERS 2024

WGU C237 - TAXATION ONE EXAM

Which IRS form must an employee file with his or her employer to determine the
amount of federal tax to be withheld from the employee's pay?



A. Form W-4

B. Form W-2

C. Form 1099

D. Form 1040ES - ANSWERS-A. Form W-4



Which type of income is exempt from the federal income tax withholding rules?



A. Vacation pay



B. Taxable fringe benefits



C. Tips less than $20 per month



D. Commissions over $500 from employer - ANSWERS-C. Tips less than $20 per
month

, If a single taxpayer has $110,000 of taxable income and itemizes deductions,
which IRS tax form should the taxpayer use?



A. 1040

B. 4868

C. 1040A

D. 1040EZ - ANSWERS-A. 1040



Excluding the observance of Emancipation Day, what is the due date of a
calendar-year return if an IRS Form 4868 (Application for Automatic Extension)
has been filed?



A. April 15

B. June 15

C. September 15

D. October 15 - ANSWERS-D. October 15



An unmarried taxpayer's elderly mother lives with her. The taxpayer pays $200
per week to an adult care center to watch the mother while the taxpayer is at
work. The taxpayer's W-2 income is $54,000, her AGI is $50,000, and her taxable
income is $34,500.



AGI Over But not over Decimal amount is AGI Over But not over Decimal amount
is