HR BLOCK FINAL TEST REVIEW (ITC
2022) NEWEST EXAM 2026/2027 WITH
MULTIPLE CHOICE QUESTIONS AND
DETAILED SOLVED SOLUTIONS
ALREADY GRADED A+ AND 100% PASS
GUARANTEE (JUST RELEASED!!!!!!!!)
What is the maximum amount of the American Opportunity
Tax Credit a taxpayer could receive per student?
$1,650
$1,800
$2,000
$2,500 - THE CORRECT ANSWER-$2,500
Which test for a qualifying child does NOT need to be met in
order for the child to be a qualifying person for purposes of
Earned Income Credit (EIC)?
Age.
Relationship.
Residency.
Support. - THE CORRECT ANSWER-Support.
Which of the following expenses qualifies for an education
credit in 2021?
,Tuition payments. The taxpayer didn't receive scholarships,
grants, or other nontaxable benefits.
Fees for an optional student activity.
Cost of student medical fees.
Tuition payments. The taxpayer received a nontaxable grant,
which covered the entire tuition expense. - THE CORRECT ANSWER-
Employer-provided dependent care assistance:
May be used for the Child and Dependent Care Credit.
Is subtracted from the total expenses for child or dependent
care on Form 2441.
Is included in wages on Form W-2.
Is not reported to the IRS. - THE CORRECT ANSWER-
Which of the following is NOT a percentage of social security
benefits subject to federal tax? Up to __________.
0%
50%
85%
100% - THE CORRECT ANSWER-100%
What is the maximum amount of the lifetime learning credit?
$1,100 per return.
$1,650 per return.
$2,000 per return.
$2,500 per return. - THE CORRECT ANSWER-$2,000 per return.
, Employer-provided dependent care assistance:
It may be used for the Child and Dependent Care Credit.
It is subtracted from the total expenses for the child or
dependent care on Form 2441.
It is included in wages on Form W-2.
It is not reported to the IRS. - THE CORRECT ANSWER-
Earned Income - THE CORRECT ANSWER-Any income (wages/salary)
that is generated by working
Unearned Income - THE CORRECT ANSWER-include interest income,
dividends, rents and royalties, pensions, alimony, and
unemployment income.
If an employee thinks their Form W-2 is incorrect, what should
they do? - THE CORRECT ANSWER-If the taxpayer's name, social
security number, earnings, or withholdings are incorrect, the
taxpayer should notify their employer and request a corrected
Form W-2. The employee should request that the employer
update their records and verify that the earnings were properly
credited with the Social Security Administration. However, the
taxpayer is still responsible for filing a timely tax return. If the
employee's attempts to obtain a corrected Form W-2 from their
employer are not successful, the taxpayer should notify the IRS.
It may be necessary to prepare a substitute Form W-2.
2022) NEWEST EXAM 2026/2027 WITH
MULTIPLE CHOICE QUESTIONS AND
DETAILED SOLVED SOLUTIONS
ALREADY GRADED A+ AND 100% PASS
GUARANTEE (JUST RELEASED!!!!!!!!)
What is the maximum amount of the American Opportunity
Tax Credit a taxpayer could receive per student?
$1,650
$1,800
$2,000
$2,500 - THE CORRECT ANSWER-$2,500
Which test for a qualifying child does NOT need to be met in
order for the child to be a qualifying person for purposes of
Earned Income Credit (EIC)?
Age.
Relationship.
Residency.
Support. - THE CORRECT ANSWER-Support.
Which of the following expenses qualifies for an education
credit in 2021?
,Tuition payments. The taxpayer didn't receive scholarships,
grants, or other nontaxable benefits.
Fees for an optional student activity.
Cost of student medical fees.
Tuition payments. The taxpayer received a nontaxable grant,
which covered the entire tuition expense. - THE CORRECT ANSWER-
Employer-provided dependent care assistance:
May be used for the Child and Dependent Care Credit.
Is subtracted from the total expenses for child or dependent
care on Form 2441.
Is included in wages on Form W-2.
Is not reported to the IRS. - THE CORRECT ANSWER-
Which of the following is NOT a percentage of social security
benefits subject to federal tax? Up to __________.
0%
50%
85%
100% - THE CORRECT ANSWER-100%
What is the maximum amount of the lifetime learning credit?
$1,100 per return.
$1,650 per return.
$2,000 per return.
$2,500 per return. - THE CORRECT ANSWER-$2,000 per return.
, Employer-provided dependent care assistance:
It may be used for the Child and Dependent Care Credit.
It is subtracted from the total expenses for the child or
dependent care on Form 2441.
It is included in wages on Form W-2.
It is not reported to the IRS. - THE CORRECT ANSWER-
Earned Income - THE CORRECT ANSWER-Any income (wages/salary)
that is generated by working
Unearned Income - THE CORRECT ANSWER-include interest income,
dividends, rents and royalties, pensions, alimony, and
unemployment income.
If an employee thinks their Form W-2 is incorrect, what should
they do? - THE CORRECT ANSWER-If the taxpayer's name, social
security number, earnings, or withholdings are incorrect, the
taxpayer should notify their employer and request a corrected
Form W-2. The employee should request that the employer
update their records and verify that the earnings were properly
credited with the Social Security Administration. However, the
taxpayer is still responsible for filing a timely tax return. If the
employee's attempts to obtain a corrected Form W-2 from their
employer are not successful, the taxpayer should notify the IRS.
It may be necessary to prepare a substitute Form W-2.
