H&R Block Income Tax Course EXAM
(ANSWERED) CORRECTLY TO SCORE A+
Regulations governing the practice of attorneys, certified
public accountants, enrolled agents, enrolled actuaries, and
appraisers before the IRS. - Correct Answers ✅Circular 230
The release of tax information by an IRS employee. - Correct
Answers ✅Disclosure
Requirements that tax professionals must follow when
preparing income tax returns. - Correct Answers ✅Due
Diligence
Failure or refusal to comply with the tax code. - Correct
Answers ✅Noncompliance
Protection from being required to disclose confidential
communications between two parties, such as attorney and
client. - Correct Answers ✅Privilege
The amount of tax a taxpayer expects to owe for the year
after subtracting expected amounts withheld and certain
refundable credits. - Correct Answers ✅Estimated Tax
A statement by an individual of (1) the amount of income tax
he estimates he will incur during the current taxable year on
income that is not subject to withholding, (2) the excess
amount over that withheld on income which is subject to
,H&R Block Income Tax Course EXAM
(ANSWERED) CORRECTLY TO SCORE A+
withholding, and (3) his estimated self-employment tax. -
Correct Answers ✅Estimated Tax Voucher
Status claimed on Form W-4 directing the employer not to
withhold federal income taxes from the employee. - Correct
Answers ✅Exemption from Withholding
If a taxpayer did not pay enough tax on a timely basis during
the year, he may be required to pay an underpayment
penalty. - Correct Answers ✅Underpayment Penalty
An increase by which income tax withholding on certain
income is reduced. - Correct Answers ✅Withholding
Allowances
Withholding and Estimated Tax Payments - Correct Answers
✅Two Ways to Pay as You Go
Employee's Withholding Allowance Certificate - Correct
Answers ✅Form W-4
Exclusion of Interest From Series EE and I U.S. Savings Bonds
Issued After 1989 - Correct Answers ✅Form 8815
Underpayment of Estimated Tax by Individuals, Estates, and
Trusts - Correct Answers ✅Form 2210
,H&R Block Income Tax Course EXAM
(ANSWERED) CORRECTLY TO SCORE A+
Application for Automatic Extension of Time To File U.S.
Individual Income Tax Return - Correct Answers ✅Form
4868
Allocation of Refund - Correct Answers ✅Form 8888
Installment Agreement Request - Correct Answers ✅Form
9465
A tax return filed on Form 1040X after the original return has
been filed. - Correct Answers ✅Amended Return
A tax year for which the statute of limitations has expired. -
Correct Answers ✅Closed Year
A taxable year for which the statute of limitations has not yet
expired. - Correct Answers ✅Open Year
Generally 5% for each month or part of a month the return is
late, but not more than 25% of the tax not paid. - Correct
Answers ✅Failure-to-File Penalty
Taxpayer fails to file the return by the due date, and there is a
balance due. - Correct Answers ✅Failure to File
, H&R Block Income Tax Course EXAM
(ANSWERED) CORRECTLY TO SCORE A+
Taxpayer fails to pay the tax owed by the due date. - Correct
Answers ✅Failure to Pay
0.5% of the unpaid taxes for each month or part of a month
after the due date, but not more than 25%. - Correct
Answers ✅Failure-to-Pay Penalty
Taxpayer shows negligence or disregard of the rules or
regulations causing an underpayment. - Correct Answers
✅Negligence or Intentional Disregard
20% of the underpayment. - Correct Answers
✅Negligence-or-Intentional-Disregard Penalty
Taxpayer understates their tax by the larger of $5,000 or 10%
of the correct tax. - Correct Answers ✅Substantial
Understatment
20% of the underpayment. - Correct Answers
✅Substantial-Understatement Penalty
Amended U.S. Individual Income Tax Return - Correct
Answers ✅Form 1040X
(ANSWERED) CORRECTLY TO SCORE A+
Regulations governing the practice of attorneys, certified
public accountants, enrolled agents, enrolled actuaries, and
appraisers before the IRS. - Correct Answers ✅Circular 230
The release of tax information by an IRS employee. - Correct
Answers ✅Disclosure
Requirements that tax professionals must follow when
preparing income tax returns. - Correct Answers ✅Due
Diligence
Failure or refusal to comply with the tax code. - Correct
Answers ✅Noncompliance
Protection from being required to disclose confidential
communications between two parties, such as attorney and
client. - Correct Answers ✅Privilege
The amount of tax a taxpayer expects to owe for the year
after subtracting expected amounts withheld and certain
refundable credits. - Correct Answers ✅Estimated Tax
A statement by an individual of (1) the amount of income tax
he estimates he will incur during the current taxable year on
income that is not subject to withholding, (2) the excess
amount over that withheld on income which is subject to
,H&R Block Income Tax Course EXAM
(ANSWERED) CORRECTLY TO SCORE A+
withholding, and (3) his estimated self-employment tax. -
Correct Answers ✅Estimated Tax Voucher
Status claimed on Form W-4 directing the employer not to
withhold federal income taxes from the employee. - Correct
Answers ✅Exemption from Withholding
If a taxpayer did not pay enough tax on a timely basis during
the year, he may be required to pay an underpayment
penalty. - Correct Answers ✅Underpayment Penalty
An increase by which income tax withholding on certain
income is reduced. - Correct Answers ✅Withholding
Allowances
Withholding and Estimated Tax Payments - Correct Answers
✅Two Ways to Pay as You Go
Employee's Withholding Allowance Certificate - Correct
Answers ✅Form W-4
Exclusion of Interest From Series EE and I U.S. Savings Bonds
Issued After 1989 - Correct Answers ✅Form 8815
Underpayment of Estimated Tax by Individuals, Estates, and
Trusts - Correct Answers ✅Form 2210
,H&R Block Income Tax Course EXAM
(ANSWERED) CORRECTLY TO SCORE A+
Application for Automatic Extension of Time To File U.S.
Individual Income Tax Return - Correct Answers ✅Form
4868
Allocation of Refund - Correct Answers ✅Form 8888
Installment Agreement Request - Correct Answers ✅Form
9465
A tax return filed on Form 1040X after the original return has
been filed. - Correct Answers ✅Amended Return
A tax year for which the statute of limitations has expired. -
Correct Answers ✅Closed Year
A taxable year for which the statute of limitations has not yet
expired. - Correct Answers ✅Open Year
Generally 5% for each month or part of a month the return is
late, but not more than 25% of the tax not paid. - Correct
Answers ✅Failure-to-File Penalty
Taxpayer fails to file the return by the due date, and there is a
balance due. - Correct Answers ✅Failure to File
, H&R Block Income Tax Course EXAM
(ANSWERED) CORRECTLY TO SCORE A+
Taxpayer fails to pay the tax owed by the due date. - Correct
Answers ✅Failure to Pay
0.5% of the unpaid taxes for each month or part of a month
after the due date, but not more than 25%. - Correct
Answers ✅Failure-to-Pay Penalty
Taxpayer shows negligence or disregard of the rules or
regulations causing an underpayment. - Correct Answers
✅Negligence or Intentional Disregard
20% of the underpayment. - Correct Answers
✅Negligence-or-Intentional-Disregard Penalty
Taxpayer understates their tax by the larger of $5,000 or 10%
of the correct tax. - Correct Answers ✅Substantial
Understatment
20% of the underpayment. - Correct Answers
✅Substantial-Understatement Penalty
Amended U.S. Individual Income Tax Return - Correct
Answers ✅Form 1040X
