TEST BANK FOR SOUTH-WESTERN FEDERAL
TAXATION 2026: COMPREHENSIVE, 48TH EDITION
a a a
BY YOUNG/PERSELLIN ISBN: 9780357988817, ALL
a
CHAPTERS 1-30 COVERED WITH CORRECT QUESTIONS
A
AND ANSWERS
,
,Chapter a01 a2025 a- aComprehensive
Indicate a whether a the astatement a is atrue a or
a false.
a 1. aIf amore aIRS aaudits aare aproducing aa ahigher anumber aof ano achange aresults, athis aindicates aincreased
acompliance aon athe apart aof ataxpayers.
True
False
a2. aThe afirst aincome atax aon aindividuals a(after athe aratification aof athe aSixteenth aAmendment ato athe
aConstitution) alevied atax arates afrom aa alow aof a1% ato aa ahigh aof a6%. True
False
a 3. aStealth ataxes ahave athe aeffect aof agenerating aadditional ataxes afrom aall ataxpayers.
True
False
a4. aIf afraud ais ainvolved, athere ais ano atime alimit aon athe aassessment aof aa adeficiency aby athe aIRS.
True
False
a5. aUnder astate aamnesty aprograms, aall adelinquent aand aunpaid aincome ataxes aare aforgiven.
True
False
a 6. aThe aFederal aestate aand agift ataxes aare aexamples aof aprogressive arate ataxes. True
False
a 7. aThe aIRS ais arequired ato aredetermine athe ainterest arate aon aunderpayments aand aoverpayments aonce aa ayear.
True
False
a8.
a 13. aUnder athe ausual astate ainheritance atax, atwo aheirs, aa acousin aand aa ason aof athe adeceased, awould anot
abe ataxed aat athe asame arate.
True
False
a14. aVarious atax aprovisions aencourage athe acreation aof acertain atypes aof aretirement aplans. aSuch
aprovisions acan abe ajustified aon aboth aeconomic aand asocial agrounds. True
False
a15. aA aparent aemploys aher atwin adaughters, aage a17, ain aher asole aproprietorship. aThe adaughters aare anot
asubject ato aFICA acoverage.
Page a1
, Name: Class: Date:
Chapter a 01 a 2025 a -
Comprehensive
True
False
a16. aFor aomissions afrom agross aincome ain aexcess aof a25% aof athat areported, athere ais ano astatute aof alimitations
aon aadditional aincome atax aassessments aby athe aIRS.
True
False
a 17. aNot aall aof athe astates athat aimpose aa ageneral asales atax aalso ahave aa ause atax.
True
False
a 18. aStates aimpose aeither aa astate aincome atax aor aa ageneral asales atax, abut anot aboth atypes aof ataxes.
True
False
a 19. aThe aamount aof athe astate aexcise ataxes aon agasoline avaries afrom astate ato astate.
True
False
a20. aUpon aaudit aby athe aIRS, aFaith ais aassessed aa adeficiency aof a$40,000 aof awhich a$25,000 ais aattributable ato
anegligence.
The a20% anegligence apenalty awill aapply ato a$25,000.
True
False
aThe aFederal aincome atax aon aindividuals agenerates amore arevenue athan athe aFederal aincome atax aon acorporations.
True
False
a 9. aTo amitigate athe aeffect aof athe aannual aaccounting aperiod aconcept, athe atax alaw apermits
athe acarryforward aof aexcess acharitable acontributions aof aa aparticular ayear ato aother ayears.
True
False
a10. aUnlike aFICA, aFUTA arequires athat aemployers acomply awith astate aas awell aas aFederal arules.
True
False
Page a2
TAXATION 2026: COMPREHENSIVE, 48TH EDITION
a a a
BY YOUNG/PERSELLIN ISBN: 9780357988817, ALL
a
CHAPTERS 1-30 COVERED WITH CORRECT QUESTIONS
A
AND ANSWERS
,
,Chapter a01 a2025 a- aComprehensive
Indicate a whether a the astatement a is atrue a or
a false.
a 1. aIf amore aIRS aaudits aare aproducing aa ahigher anumber aof ano achange aresults, athis aindicates aincreased
acompliance aon athe apart aof ataxpayers.
True
False
a2. aThe afirst aincome atax aon aindividuals a(after athe aratification aof athe aSixteenth aAmendment ato athe
aConstitution) alevied atax arates afrom aa alow aof a1% ato aa ahigh aof a6%. True
False
a 3. aStealth ataxes ahave athe aeffect aof agenerating aadditional ataxes afrom aall ataxpayers.
True
False
a4. aIf afraud ais ainvolved, athere ais ano atime alimit aon athe aassessment aof aa adeficiency aby athe aIRS.
True
False
a5. aUnder astate aamnesty aprograms, aall adelinquent aand aunpaid aincome ataxes aare aforgiven.
True
False
a 6. aThe aFederal aestate aand agift ataxes aare aexamples aof aprogressive arate ataxes. True
False
a 7. aThe aIRS ais arequired ato aredetermine athe ainterest arate aon aunderpayments aand aoverpayments aonce aa ayear.
True
False
a8.
a 13. aUnder athe ausual astate ainheritance atax, atwo aheirs, aa acousin aand aa ason aof athe adeceased, awould anot
abe ataxed aat athe asame arate.
True
False
a14. aVarious atax aprovisions aencourage athe acreation aof acertain atypes aof aretirement aplans. aSuch
aprovisions acan abe ajustified aon aboth aeconomic aand asocial agrounds. True
False
a15. aA aparent aemploys aher atwin adaughters, aage a17, ain aher asole aproprietorship. aThe adaughters aare anot
asubject ato aFICA acoverage.
Page a1
, Name: Class: Date:
Chapter a 01 a 2025 a -
Comprehensive
True
False
a16. aFor aomissions afrom agross aincome ain aexcess aof a25% aof athat areported, athere ais ano astatute aof alimitations
aon aadditional aincome atax aassessments aby athe aIRS.
True
False
a 17. aNot aall aof athe astates athat aimpose aa ageneral asales atax aalso ahave aa ause atax.
True
False
a 18. aStates aimpose aeither aa astate aincome atax aor aa ageneral asales atax, abut anot aboth atypes aof ataxes.
True
False
a 19. aThe aamount aof athe astate aexcise ataxes aon agasoline avaries afrom astate ato astate.
True
False
a20. aUpon aaudit aby athe aIRS, aFaith ais aassessed aa adeficiency aof a$40,000 aof awhich a$25,000 ais aattributable ato
anegligence.
The a20% anegligence apenalty awill aapply ato a$25,000.
True
False
aThe aFederal aincome atax aon aindividuals agenerates amore arevenue athan athe aFederal aincome atax aon acorporations.
True
False
a 9. aTo amitigate athe aeffect aof athe aannual aaccounting aperiod aconcept, athe atax alaw apermits
athe acarryforward aof aexcess acharitable acontributions aof aa aparticular ayear ato aother ayears.
True
False
a10. aUnlike aFICA, aFUTA arequires athat aemployers acomply awith astate aas awell aas aFederal arules.
True
False
Page a2
