EA Part 3 Exam Questions and Solutions (A+)

EA Part 3 Exam Questions and Solutions (A+) 2848 - Answer - a power of attorney form appointing the associate to represent the client and negotiate on their behalf 433 - Answer - financial statement forms to show the client's ability to pay towards the liability owed 8821 - Answer - a tax information authorization allowing omni employees to receive info regarding a client's account abatement - Answer - request for te IRS to abate penalties assessed for late payment, late filing, etc. ACS [Automated Collection System] - Answer - the IRS collection department for less complicated cases with similar liabilities ASED [assessment statute expiration date] - Answer - the irs generally has 3 years to asess additional tax or TF assessment. this date can be changed for several different reasons CAF [Central Authorization File] - Answer - a number assigned to allow an individual to represent the taxpayer before the IRS CAP [Collection Appeal Request] - Answer - a type of appeal allowing taxpayers a right to a hearing; filing d/l varies. CDP [Collection Due Process] - Answer - a type of appeal allowing taxpayers a right to a hearing; has a deadline of 30 days after the notice date Civ Pen (personal) - Answer - a portion of the biz's tax debt which is personally assessed against the responsible individual Civ Pen (biz) - Answer - assessed against a biz; this generally happens when there is a failure to file for Form W2/W3 CNC - Answer - a temporary hold in which the clt is not req to make pymts toward the liability balance compliance - Answer - filing accurate and complete returns on time, paying amounts due and reporting info required CSED [Collection Statute Expiration Date] - Answer - the irs generally has 10 years to collect a liability. this date can be changed for several different reasons DOR/L [dept of rev/labor] - Answer - the state's income tax authority; specific names vary by state