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H&R BLOCK INCOME TAX
COURSE QUESTIONS WIT H 100%
CORRECT ANSWERS
Question :Circular 230
Correct answer:Regulations governing the practice of
attorneys, certified public accountants, enrolled agents, enrolled actuaries, and appraisers before the IRS.
Question :Disclosure
Correct answer:The release of tax information by an IRS
employee.
Question :Due Diligence
Correct answer:Requirements that tax professionals must
follow when preparing income tax returns.
Question :Noncompliance
Correct answer:Failure or refusal to comply with the tax
code.
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Question :Privilege
Correct answer:Protection from being required to disclose
confidential communications between two parties, such as attorney and client.
Question :Estimated Tax
Correct answer:The amount of tax a taxpayer expects to
owe for the year after subtracting expected amounts withheld and certain refundable credits.
Question :Estimated Tax Voucher
Correct answer: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 withholding, and (3) his estimated self-employment tax.
Question :Exemption from Withholding
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Correct answer:Status claimed on Form W-4 directing the
employer not to withhold federal income taxes from the employee.
Question :Underpayment Penalty
Correct answer:If a taxpayer did not pay enough tax on a
timely basis during the year, he may be required to pay an underpayment penalty.
Question :Withholding Allowances
Correct answer:An increase by which income tax
withholding on certain income is reduced.
Question :Two Ways to Pay as You Go
Correct answer:Withholding and Estimated Tax Payments
Question :Form W-4
Correct answer:Employee's Withholding Allowance
Certificate
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Question :Form 8815
Correct answer:Exclusion of Interest From Series EE and
I U.S. Savings Bonds Issued After 1989
Question :Form 2210
Correct answer:Underpayment of Estimated Tax by
Individuals, Estates, and Trusts
Question :Form 4868
Correct answer:Application for Automatic Extension of
Time To File U.S. Individual Income Tax Return