MCGRAW HILL'S TAXATION OF
INDIVIDUALS 2022 EDITION
Taxesmrinfluencemrpersonalmrdecisionsmrsuchmrasmrwhethermrtomrbuymrormrrentmramrhouse.mr-
mranswers--True
Taxesmraremrvoluntarymrpaymentsmrpaidmrtomramrgovernmentmrformramrspecificmrbenefitmrreceivedm
rbymrthemrspecificmrtaxpayer.mr-mranswers--False
Themrmarginalmrtaxmrratemrismroftenmrusedmrinmrtaxmrplanning.mr-mranswers--True
Jerrymrrecentlymrpaidmr$20mrinmrtollsmrformrthemrFloridamrturnpike.mrThemr$20mrpaymentmrismrconsi
deredmramrtax.mr-mranswers--False
Horizontalmrequitymrmeansmrthatmrtwomrtaxpayersmrwithmrdifferentmramountsmrofmrincomemrshoul
dmrpaymrdifferentmramountsmrofmrtaxmrbutmrfairlymrinmrrelationmrtomrtheirmrabilitymrtomrpay.mr-
mranswers--False
Themrfederalmrincomemrtaxmrismranmrexamplemrofmramrregressivemrtaxmrsystem.mr-mranswers--False
ThemrUSmrFederalmrIncomemrtaxmrismranmrexamplemrofmramrprogressivemrtaxmrsystem.mr-mranswers--
True
Themrgiftmrtaxmrismrimposedmronmrthemrfairmrmarketmrvaluemrofmritemsmrtransferredmruponmrdeath.
mr-mranswers--False
, Themrreducedmrpre-
taxmrratemrofmrreturnmronmrmunicipalmrbondsmrismranmrexamplemrofmranmrexplicitmrtax.mr-
mranswers--False
Themrtaxmrreturnmrfilingmrrequirementsmrformrindividualmrtaxpayersmronlymrdependmronmrthemrtaxp
ayer'smrfilingmrstatus.mr-mranswers--False
Ifmramrtaxpayermrismrduemramrrefund,mrshemrdoesmrnotmrhavemrtomrfilemramrtaxmrreturn.mr-
mranswers--False
IfmrAprilmr15thmrfallsmronmramrSaturday,mrthemrduemrdatemrformrindividualmrtaxmrreturnsmrwillmrbemro
nmrMonday,mrAprilmr17thmr(assumingmritmrismrnotmramrholiday).mr-mranswers--True
Ifmranmrindividualmrtaxpayermrismrunablemrtomrfilemramrtaxmrreturnmrbymritsmroriginalmrduemrdate,mrth
emrtaxpayermrcanmrrequestmranmrautomaticmrnine-monthmrextensionmrtomrfilemrthemrreturn.mr-
mranswers--False
Anmrextensionmrtomrfilemramrtaxmrreturnmrdoesmrnotmrextendmrthemrduemrdatemrformrtaxmrpayments.
mr-mranswers--True
ThemrstatutemrofmrlimitationsmrformrIRSmrassessmentmrgenerallymrendsmrfourmryearsmraftermrthemrd
atemramrtaxmrreturnmrismrfiled.mr-mranswers--False
Formrfraudulentmrtaxmrreturns,mrthemrstatutemrofmrlimitationsmrformrIRSmrassessmentmrismr10mryears
.mr-mranswers--False
ThemrIRSmrDIFmrsystemmrchecksmreachmrtaxmrreturnmrformrmathematicalmrmistakesmrandmrerrors.mr-
mranswers--False
INDIVIDUALS 2022 EDITION
Taxesmrinfluencemrpersonalmrdecisionsmrsuchmrasmrwhethermrtomrbuymrormrrentmramrhouse.mr-
mranswers--True
Taxesmraremrvoluntarymrpaymentsmrpaidmrtomramrgovernmentmrformramrspecificmrbenefitmrreceivedm
rbymrthemrspecificmrtaxpayer.mr-mranswers--False
Themrmarginalmrtaxmrratemrismroftenmrusedmrinmrtaxmrplanning.mr-mranswers--True
Jerrymrrecentlymrpaidmr$20mrinmrtollsmrformrthemrFloridamrturnpike.mrThemr$20mrpaymentmrismrconsi
deredmramrtax.mr-mranswers--False
Horizontalmrequitymrmeansmrthatmrtwomrtaxpayersmrwithmrdifferentmramountsmrofmrincomemrshoul
dmrpaymrdifferentmramountsmrofmrtaxmrbutmrfairlymrinmrrelationmrtomrtheirmrabilitymrtomrpay.mr-
mranswers--False
Themrfederalmrincomemrtaxmrismranmrexamplemrofmramrregressivemrtaxmrsystem.mr-mranswers--False
ThemrUSmrFederalmrIncomemrtaxmrismranmrexamplemrofmramrprogressivemrtaxmrsystem.mr-mranswers--
True
Themrgiftmrtaxmrismrimposedmronmrthemrfairmrmarketmrvaluemrofmritemsmrtransferredmruponmrdeath.
mr-mranswers--False
, Themrreducedmrpre-
taxmrratemrofmrreturnmronmrmunicipalmrbondsmrismranmrexamplemrofmranmrexplicitmrtax.mr-
mranswers--False
Themrtaxmrreturnmrfilingmrrequirementsmrformrindividualmrtaxpayersmronlymrdependmronmrthemrtaxp
ayer'smrfilingmrstatus.mr-mranswers--False
Ifmramrtaxpayermrismrduemramrrefund,mrshemrdoesmrnotmrhavemrtomrfilemramrtaxmrreturn.mr-
mranswers--False
IfmrAprilmr15thmrfallsmronmramrSaturday,mrthemrduemrdatemrformrindividualmrtaxmrreturnsmrwillmrbemro
nmrMonday,mrAprilmr17thmr(assumingmritmrismrnotmramrholiday).mr-mranswers--True
Ifmranmrindividualmrtaxpayermrismrunablemrtomrfilemramrtaxmrreturnmrbymritsmroriginalmrduemrdate,mrth
emrtaxpayermrcanmrrequestmranmrautomaticmrnine-monthmrextensionmrtomrfilemrthemrreturn.mr-
mranswers--False
Anmrextensionmrtomrfilemramrtaxmrreturnmrdoesmrnotmrextendmrthemrduemrdatemrformrtaxmrpayments.
mr-mranswers--True
ThemrstatutemrofmrlimitationsmrformrIRSmrassessmentmrgenerallymrendsmrfourmryearsmraftermrthemrd
atemramrtaxmrreturnmrismrfiled.mr-mranswers--False
Formrfraudulentmrtaxmrreturns,mrthemrstatutemrofmrlimitationsmrformrIRSmrassessmentmrismr10mryears
.mr-mranswers--False
ThemrIRSmrDIFmrsystemmrchecksmreachmrtaxmrreturnmrformrmathematicalmrmistakesmrandmrerrors.mr-
mranswers--False