HR BLOCK FINAL TEST REVIEW (ITC 2026)
EXAM(ACTUAL EXAM) WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2026
When does an amended return need to be filed in order to
receive a refund? - ANSWERS-Within three years of the date
the original return was filed, or within two years of the date
the tax was paid, whichever is later.
If a taxpayer receives an adjustment letter from the IRS
showing a balance due, is an amended return always
required? - ANSWERS-No. If the taxpayer agrees with the
adjustment, they may simply pay the balance due. If they
believe their original return, as filed, was correct, they can
respond to the letter and provide any additional
documentation required.
What types of income are subject to mandatory federal
income tax withholding? - ANSWERS-Some examples are
wages of employees, including sick pay, commissions,
,bonuses, and vacation pay; pensions; and gambling
winnings in excess of $5,000.
Does the fact that an employee is having income tax
withheld from their paycheck mean their tax liability will be
covered? - ANSWERS-Not necessarily. If a taxpayer
experiences a change of circumstances with regard to their
personal or financial situation, such as the loss of a
dependent, or if they have substantial income that is not
subject to withholding, they may owe additional taxes at
the end of the year. Taxpayers with more than one job may
also owe additional taxes
On what dates are estimated payments normally required
to be made? - ANSWERS-Typically, the estimated payments
are due on April 15, June 15, September 15, and January 15
(of the following year).
Taxpayers with taxable income from which there is no
withholding usually must pay estimated tax. What are some
examples of this type of income? - ANSWERS-Rental income,
self-employment income, capital gains, wages of statutory
employees.
,What options does a taxpayer have for depositing their
refund? - ANSWERS-A taxpayer who will receive a refund
can use Form 8888 to directly deposit their refund into two
or three different accounts. The account can be a checking
or savings account, or it can be another type of account,
such as an IRA, a health savings account (HSA), or a
Coverdell education savings account. A taxpayer also has
the option to purchase up to $5,000 in Series I U.S. Savings
Bonds with a portion of their refund.
Which of the following is NOT a percentage of social security
benefits subject to federal tax? Up to __________.
0%
50%
85%
100% - ANSWERS-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. - ANSWERS-$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. - ANSWERS-
Earned Income - ANSWERS-Any income (wages/salary) that
is generated by working
Unearned Income - ANSWERS-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? - ANSWERS-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
EXAM(ACTUAL EXAM) WITH CORRECT
ACTUAL QUESTIONS AND CORRECTLY
WELL DEFINED ANSWERS LATEST
ALREADY GRADED A+ 2026
When does an amended return need to be filed in order to
receive a refund? - ANSWERS-Within three years of the date
the original return was filed, or within two years of the date
the tax was paid, whichever is later.
If a taxpayer receives an adjustment letter from the IRS
showing a balance due, is an amended return always
required? - ANSWERS-No. If the taxpayer agrees with the
adjustment, they may simply pay the balance due. If they
believe their original return, as filed, was correct, they can
respond to the letter and provide any additional
documentation required.
What types of income are subject to mandatory federal
income tax withholding? - ANSWERS-Some examples are
wages of employees, including sick pay, commissions,
,bonuses, and vacation pay; pensions; and gambling
winnings in excess of $5,000.
Does the fact that an employee is having income tax
withheld from their paycheck mean their tax liability will be
covered? - ANSWERS-Not necessarily. If a taxpayer
experiences a change of circumstances with regard to their
personal or financial situation, such as the loss of a
dependent, or if they have substantial income that is not
subject to withholding, they may owe additional taxes at
the end of the year. Taxpayers with more than one job may
also owe additional taxes
On what dates are estimated payments normally required
to be made? - ANSWERS-Typically, the estimated payments
are due on April 15, June 15, September 15, and January 15
(of the following year).
Taxpayers with taxable income from which there is no
withholding usually must pay estimated tax. What are some
examples of this type of income? - ANSWERS-Rental income,
self-employment income, capital gains, wages of statutory
employees.
,What options does a taxpayer have for depositing their
refund? - ANSWERS-A taxpayer who will receive a refund
can use Form 8888 to directly deposit their refund into two
or three different accounts. The account can be a checking
or savings account, or it can be another type of account,
such as an IRA, a health savings account (HSA), or a
Coverdell education savings account. A taxpayer also has
the option to purchase up to $5,000 in Series I U.S. Savings
Bonds with a portion of their refund.
Which of the following is NOT a percentage of social security
benefits subject to federal tax? Up to __________.
0%
50%
85%
100% - ANSWERS-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. - ANSWERS-$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. - ANSWERS-
Earned Income - ANSWERS-Any income (wages/salary) that
is generated by working
Unearned Income - ANSWERS-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? - ANSWERS-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
