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Chapter 02 Tax Compliance, the IRS, and Tax Authorities

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Question;43.;Bill filed;his 2014 tax return on March 15th, 2015. The statute of;limitations for IRS assessment on Bill's 2014 tax return should end;A.;March 15th, 2017.;B.;April 15th, 2017.;C.;March 15th, 2018.;D.;April 15th, 2018.;E.;None of these.;44.;Henry filed;his 2014 tax return on May 15th, 2015. The statute of limitations;for IRS assessment on Henry's 2014 tax return should end;A.;May 15th, 2017.;B.;April 15th, 2017.;C.;May 15th, 2018.;D.;April 15th, 2018.;E.;None of these.;45.;Allen filed;his 2014 tax return on May 15th, 2015 and underreported his gross income;by 30 percent. Assuming Allen's underreporting is not due to fraud, the;statute of limitations for IRS assessment on Allen's 2013 tax return should;end;A.;May 15th, 2017.;B.;April 15th, 2017.;C.;May 15th, 2018.;D.;April 15th, 2018.;E.;None of these.;46.;Andy filed a;fraudulent 2014 tax return on May 1, 2015. The statute of limitations for IRS;assessment on Andy's 2014 tax return should end;A.;May 1st, 2017.;B.;April 15th, 2017.;C.;May 1st, 2018.;D.;April 15th, 2018.;E.;None of these.;47.;Martin has;never filed a 2014 tax return despite earning approximately $20,000 providing;landscaping work in the community. When does the statute of limitations;expire for Martin's 2014 tax return?;A.;2017.;B.;2018.;C.;2021.;D.;2022.;E.;None of these.;48.;Which of the;following is not a common method that the IRS uses to select returns for;audit?;A.;DIF system.;B.;Tax select system.;C.;Information matching.;D.;Document perfection.;E.;None of these.;49.;Leslie made a;mathematical mistake in computing her tax liability. Which audit program will;likely catch Leslie's mistake?;A.;DIF system.;B.;Mathematical correction.;C.;Document perfection.;D.;Information matching.;E.;None of these.

 

Paper#55259 | Written in 18-Jul-2015

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