Questions from General Taxation

Q: What six criteria must a taxpayer meet in order to file Form

What six criteria must a taxpayer meet in order to file Form 1040EZ?

Q: When taxpayers file a tax return, they will either pay an

When taxpayers file a tax return, they will either pay an additional amount or receive a refund of excess taxes paid. Briefly explain how this “settling up” process works. Why might a taxpayer pay t...

Q: Cameron is single and has taxable income of $84,192

Cameron is single and has taxable income of $84,192. Determine his tax liability using the Tax Tables and using the Tax Rate Schedule. Why is there a difference between the two amounts?

Q: Jake earned $15,000 and paid $1,500

Jake earned $15,000 and paid $1,500 of income tax; Jill earned $40,000 and paid $3,500 of income tax. The tax rate structure they are subject to is: Progressive. Proportional. Regressive. Recessive....

Q: Margaret earned $15,000 and paid $1,500

Margaret earned $15,000 and paid $1,500 of income tax; Mike earned $50,000 and paid $5,000 of income tax. The tax rate structure they are subject to is: Progressive. Proportional. Regressive. d. R...

Q: If an employer contributes to an HSA on behalf of an employee

If an employer contributes to an HSA on behalf of an employee, a. Is the contribution deductible by the employee? b. Is the payment considered income to the employee?

Q: Which of the following is an example of a regressive tax?

Which of the following is an example of a regressive tax? Federal income tax. State and local taxes levied on property. Sales tax. d. Social Security tax.

Q: Which of the following is an example of a progressive tax?

Which of the following is an example of a progressive tax? Federal income tax. State and local taxes levied on property. Sales tax. d. Social Security tax.

Q: Jennifer and Paul, who file a joint return, have

Jennifer and Paul, who file a joint return, have taxable income of $94,625 and the following tax liability: $18,650 × 10%.............................. =$ 1,865.00 ($75,900 − $18,650) × 15%...........

Q: Jennifer and Paul, who file a joint return, have taxable

Jennifer and Paul, who file a joint return, have taxable income of $94,625 and the following tax liability: $18,650 × 10%....................................... =$ 1,865.00 ($75,900 − $18,650) × 15%...