ch2 - ch2 Student: _ 1. The federal individual income tax...

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ch2 Student: ___________________________________________________________________________ 1. The federal individual income tax returns are the 1040ES, 1040A and 1040. True False 2. The tax code defines adjusted gross income (AGI) as gross income minus a list of permitted deductions. True False 3. The amount of tax liability for a taxpayer depends on many factors, including the filing status of the taxpayer. True False 4. A married couple can file a joint return if they are married and if both have earned income. True False 5. A married couple in the process of obtaining a divorce cannot file a joint tax return. True False 6. A taxpayer filing separately must show the name and social security number of the spouse on the tax return. True False 7. To qualify for head of household, a taxpayer must maintain a household that is the principal place of abode of a qualifying person for more than half the year. True False 8. A taxpayer can qualify for head of household even though his or her parents are living in a separate household from that of the taxpayer (assume all other requirements are met). True False 9. If a taxpayer's spouse dies during the tax year, the taxpayer must file as a qualifying widow(er). True False 10. The exemption amount is subject to annual adjustment for inflation. True False 11. The personal exemption for 2009 is $3,750. True False
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12. A taxpayer can be claimed as a dependent on another return and still he or she can claim a personal exemption on his or her tax return. True False 13. To be claimed as a dependent, a person must be a qualifying child or a qualifying relative. True False 14. A qualifying child does not have to meet the support test in order to be claimed as a dependent. True False 15. A qualifying relative must be related to the taxpayer (as listed by the IRS), or be a member of the taxpayer's household for the entire year. True False 16. A taxpayer who either is 65 or older or blind can claim an additional standard deduction. True False 17. The standard deduction in 2009 for a married couple, under 65 and not blind, is $11,400. True False 18. In 2009, the additional standard deduction for a single taxpayer, who is 65 or older and not blind, is $1,400. True False 19. Even if the total of the itemized deductions is lower than the standard deduction, a taxpayer should choose to itemize on his or her tax return. True False 20. The tax tables stop at taxable income of $110,000. True False 21. Most taxpayers make payments to the IRS through income tax withholdings and quarterly estimated tax payments. True False 22. A taxpayer may request an automatic seven-month extension of time to file his or her tax return. True False
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This note was uploaded on 02/27/2012 for the course ACCT 3221 taught by Professor Armentor during the Spring '08 term at LSU.

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ch2 - ch2 Student: _ 1. The federal individual income tax...

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