CPA TCP Tax Planning Tax Compliance MCQs Test 4

General4 MCQs

1. Can the IRS abate penalties for reasonable cause?

A. The IRS can abate penalties if the taxpayer shows reasonable causeB. Penalties cannot be abated under any circumstancesC. Reasonable cause is not a valid defense for penaltiesD. Abatement is only available for corporations

2. What is the statute of limitations for a fraudulent return?

A. The statute of limitations for a fraudulent return is three yearsB. The statute of limitations for a fraudulent return is six yearsC. The statute of limitations for a fraudulent return is ten yearsD. There is no statute of limitations for a fraudulent return

General4 MCQs

3. What is the status of the individual mandate penalty?

A. The individual mandate penalty is still in effect for federal taxB. The individual mandate penalty was eliminated by the TCJA for federal tax purposesC. The individual mandate penalty is 2% of incomeD. The individual mandate penalty applies to all taxpayers

4. What is tax compliance and why is it important?

A. Tax compliance is optionalB. Tax compliance is only for corporationsC. Tax compliance includes timely filing, accurate reporting, and payment of taxesD. Tax compliance is not enforced by the IRS

CPA TCP Tax Planning Tax Compliance MCQs Test 4

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