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H&R Block Income Tax Course Latest Update 2026
Circular 230 ......ANSWER......Regulations governing the practice of
attorneys, certified public accountants, enrolled agents, enrolled
actuaries, and appraisers before the IRS.
Disclosure ......ANSWER......The release of tax information by an IRS
employee.
Due Diligence ......ANSWER......Requirements that tax professionals
must follow when preparing income tax returns.
Noncompliance ......ANSWER......Failure or refusal to comply with the
tax code.
Privilege ......ANSWER......Protection from being required to disclose
confidential communications between two parties, such as attorney and
client.
Estimated Tax ......ANSWER......The amount of tax a taxpayer expects to
owe for the year after subtracting expected amounts withheld and
certain refundable credits.
Estimated Tax Voucher ......ANSWER......A statement by an individual of
(1) the amount of income tax he estimates he will incur during the
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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.
Exemption from Withholding ......ANSWER......Status claimed on Form
W-4 directing the employer not to withhold federal income taxes from
the employee.
Underpayment Penalty ......ANSWER......If a taxpayer did not pay
enough tax on a timely basis during the year, he may be required to pay
an underpayment penalty.
Withholding Allowances ......ANSWER......An increase by which income
tax withholding on certain income is reduced.
Two Ways to Pay as You Go ......ANSWER......Withholding and Estimated
Tax Payments
Form W-4 ......ANSWER......Employee's Withholding Allowance
Certificate
Form 8815 ......ANSWER......Exclusion of Interest From Series EE and I
U.S. Savings Bonds Issued After 1989
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Form 2210 ......ANSWER......Underpayment of Estimated Tax by
Individuals, Estates, and Trusts
Form 4868 ......ANSWER......Application for Automatic Extension of Time
To File U.S. Individual Income Tax Return
Form 8888 ......ANSWER......Allocation of Refund
Form 9465 ......ANSWER......Installment Agreement Request
Amended Return ......ANSWER......A tax return filed on Form 1040X after
the original return has been filed.
Closed Year ......ANSWER......A tax year for which the statute of
limitations has expired.
Open Year ......ANSWER......A taxable year for which the statute of
limitations has not yet expired.
Failure-to-File Penalty ......ANSWER......Generally 5% for each month or
part of a month the return is late, but not more than 25% of the tax not
paid.
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Failure to File ......ANSWER......Taxpayer fails to file the return by the due
date, and there is a balance due.
Failure to Pay ......ANSWER......Taxpayer fails to pay the tax owed by the
due date.
Failure-to-Pay Penalty ......ANSWER......0.5% of the unpaid taxes for each
month or part of a month after the due date, but not more than 25%.
Negligence or Intentional Disregard ......ANSWER......Taxpayer shows
negligence or disregard of the rules or regulations causing an
underpayment.
Negligence-or-Intentional-Disregard Penalty ......ANSWER......20% of the
underpayment.
Substantial Understatment ......ANSWER......Taxpayer understates their
tax by the larger of $5,000 or 10% of the correct tax.
Substantial-Understatement Penalty ......ANSWER......20% of the
underpayment.
Form 1040X ......ANSWER......Amended U.S. Individual Income Tax
Return
pg. 4
H&R Block Income Tax Course Latest Update 2026
Circular 230 ......ANSWER......Regulations governing the practice of
attorneys, certified public accountants, enrolled agents, enrolled
actuaries, and appraisers before the IRS.
Disclosure ......ANSWER......The release of tax information by an IRS
employee.
Due Diligence ......ANSWER......Requirements that tax professionals
must follow when preparing income tax returns.
Noncompliance ......ANSWER......Failure or refusal to comply with the
tax code.
Privilege ......ANSWER......Protection from being required to disclose
confidential communications between two parties, such as attorney and
client.
Estimated Tax ......ANSWER......The amount of tax a taxpayer expects to
owe for the year after subtracting expected amounts withheld and
certain refundable credits.
Estimated Tax Voucher ......ANSWER......A statement by an individual of
(1) the amount of income tax he estimates he will incur during the
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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.
Exemption from Withholding ......ANSWER......Status claimed on Form
W-4 directing the employer not to withhold federal income taxes from
the employee.
Underpayment Penalty ......ANSWER......If a taxpayer did not pay
enough tax on a timely basis during the year, he may be required to pay
an underpayment penalty.
Withholding Allowances ......ANSWER......An increase by which income
tax withholding on certain income is reduced.
Two Ways to Pay as You Go ......ANSWER......Withholding and Estimated
Tax Payments
Form W-4 ......ANSWER......Employee's Withholding Allowance
Certificate
Form 8815 ......ANSWER......Exclusion of Interest From Series EE and I
U.S. Savings Bonds Issued After 1989
pg. 2
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Form 2210 ......ANSWER......Underpayment of Estimated Tax by
Individuals, Estates, and Trusts
Form 4868 ......ANSWER......Application for Automatic Extension of Time
To File U.S. Individual Income Tax Return
Form 8888 ......ANSWER......Allocation of Refund
Form 9465 ......ANSWER......Installment Agreement Request
Amended Return ......ANSWER......A tax return filed on Form 1040X after
the original return has been filed.
Closed Year ......ANSWER......A tax year for which the statute of
limitations has expired.
Open Year ......ANSWER......A taxable year for which the statute of
limitations has not yet expired.
Failure-to-File Penalty ......ANSWER......Generally 5% for each month or
part of a month the return is late, but not more than 25% of the tax not
paid.
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Failure to File ......ANSWER......Taxpayer fails to file the return by the due
date, and there is a balance due.
Failure to Pay ......ANSWER......Taxpayer fails to pay the tax owed by the
due date.
Failure-to-Pay Penalty ......ANSWER......0.5% of the unpaid taxes for each
month or part of a month after the due date, but not more than 25%.
Negligence or Intentional Disregard ......ANSWER......Taxpayer shows
negligence or disregard of the rules or regulations causing an
underpayment.
Negligence-or-Intentional-Disregard Penalty ......ANSWER......20% of the
underpayment.
Substantial Understatment ......ANSWER......Taxpayer understates their
tax by the larger of $5,000 or 10% of the correct tax.
Substantial-Understatement Penalty ......ANSWER......20% of the
underpayment.
Form 1040X ......ANSWER......Amended U.S. Individual Income Tax
Return
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