HRB Samenvattingen, Notities en Examens

H&R Block Income Tax Course Questions and Answers 100% Solved Circular 230 Regulations governing the practice of attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS. Disclosure The release of tax information by an IRS employee. Due Diligence Requirements that tax professionals must follow when preparing income tax returns. Noncompliance Failure or refusal to comply with the tax code. Privilege Protection from being required to di...

H&R BLOCK FINAL REVIEW QUESTIONS AND ANSWERS 100% SOLVED Earned Income income is received for services performed. Includes wages, commissions, tips, farming, and other business income Unearned Income taxable income that does not meet the definition of earned income. Ex: 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? Taxpayer should notify employer and request a correc...

H&R Block Specialist Test Questions and Answers 100% Solved Sam pays his 19 yr. old son, Joshua, $550/month to maintain the lawn & garden at the family residence. Sam is subject to what household employment tax rules for Joshua? A. Since Joshua is not performing any child case services, the household tax rules do not apply. B. Since Joshua is the taxpayer's child under age 21, the household employment tax rules do not apply. C. Since no evidence is given that Joshua is a student, he ...

HRB FINAL EXAM WITH COMPLETE SOLUTIONS 100% VERIFIED What is the Difference between earned income and unearned income? Earned income is received for services performed. Examples are wages commissions, tips and generally farming and other business income . Taxable income other than that received for services performed. Unearned Income includes money received ro the investment of money or other property, such as interest, dividends, and royalties. It also includes pensions alimony, unem...

H&R Block Test Questions and Answers 100% Solved Earned Income received for services performed. some examples include wages, commissions, tips, farming, and other business income. Unearned Income taxable income that does not meet the definition of earned income. Examples of unearned income include interest income, dividends, rents and royalties, pensions, alimony, and unemployment income. Is interest received on U.S. Treasury obligations taxable on state and/or local returns? No. In...

TAX SPECIALIST (HRB) – MILITARY TEST QUESTIONS AND ANSWERS 100% SOLVED What is basic pay? Basic military pay for various activities. What is special pay? Pay for career-specific activities. What is bonus pay? Additional pay based on various events. What is incentive pay? Pay for certain duty assignments. What is other pay? Pay not covered under previous types. What is included in basic pay? Active duty, service school attendance, back wages, cadet/midshipman pay, drills, reserve trai...

H & R Block Midterm Review Test Questions and Answers 100% Solved Some types of income do not need to be reported anywhere on a federal tax return. This includes all of the following EXCEPT: A.) Most medical insurance proceeds B.) Worker's compensation paid to an employee who was injured on the job. C.) Welfare benefits D.) Unemployment compensation D.) Unemployment compensation

H&R Block- Chp 2 Filing Requirements Exam Questions And Answers 100% Solved community income Income of a married couple, living in a community property state, that is considered to belong equally to each spouse, regardless of which spouse receives the income. community property property considered to belong in equal property to each spouse dependent someone who can be claimed on another person's income tax return gross income total worldwide income received in the form of money, prope...

HRB Tax class Test Questions and Answers 100% Solved Ch 1: Earned Income Any income (wages/salary) that is generated by working. Social security A federal insurance program funded by taxpayer dollars that provide benefits to people who are retired, unemployed, or disabled: 6.2% of income. income tax Taxes paid out by anyone who earns an income. federal income tax Used to support government programs such as military defense and public services. state income tax Used to support protecti...

LEVEL 2 - TAX SPECIALIST (HRB) – CRYPTO TEST QUESTIONS AND ANSWERS 100% SOLVED Currency is tangible or intangible property? Intangible Cash is fiat/real currency, gov. issued & not backed by commodities like gold or silver Digital Currency is any currency used exclusively in what form? Electronic One sub type of digital currency is virtual currency The IRS definition of virtual currency is... a digital representation of value that functions as a medium of exchange, a unit of account,...