H&R BLOCK INCOME TAX EXAM 2025 | ALL
QUESTIONS AND CORRECT ANSWERS | ALREADY
GRADED A+ | LATEST EXAM | VERIFIED ANSWERS
Circular 230 - ..(ANSWER)...Regulations governing the practice of attorneys,
certified public accountants, enrolled agents, enrolled actuaries, and appraisers
before the IRS.
Disclosure - ..(ANSWER)...The release of tax information by an IRS employee.
Due Diligence - ..(ANSWER)...Requirements that tax professionals must follow
when preparing income tax returns.
Noncompliance - ..(ANSWER)...Failure or refusal to comply with the tax code.
Privilege - ..(ANSWER)...Protection from being required to disclose confidential
communications between two parties, such as attorney and client.
Estimated Tax - ..(ANSWER)...The amount of tax a taxpayer expects to owe for the
year after subtracting expected amounts withheld and certain refundable credits.
Estimated Tax Voucher - ..(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.
,Exemption from Withholding - ..(ANSWER)...Status claimed on Form W-4 directing
the employer not to withhold federal income taxes from the employee.
Underpayment Penalty - ..(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.
Withholding Allowances - ..(ANSWER)...An increase by which income tax
withholding on certain income is reduced.
Two Ways to Pay as You Go - ..(ANSWER)...Withholding and Estimated Tax
Payments
Form W-4 - ..(ANSWER)...Employee's Withholding Allowance Certificate
Form 8815 - ..(ANSWER)...Exclusion of Interest From Series EE and I U.S. Savings
Bonds Issued After 1989
Form 2210 - ..(ANSWER)...Underpayment of Estimated Tax by Individuals, Estates,
and Trusts
Form 4868 - ..(ANSWER)...Application for Automatic Extension of Time To File U.S.
Individual Income Tax Return
,Form 8888 - ..(ANSWER)...Allocation of Refund
Form 9465 - ..(ANSWER)...Installment Agreement Request
Amended Return - ..(ANSWER)...A tax return filed on Form 1040X after the
original return has been filed.
Closed Year - ..(ANSWER)...A tax year for which the statute of limitations has
expired.
Open Year - ..(ANSWER)...A taxable year for which the statute of limitations has
not yet expired.
Failure-to-File Penalty - ..(ANSWER)...Generally 5% for each month or part of a
month the return is late, but not more than 25% of the tax not paid.
Failure to File - ..(ANSWER)...Taxpayer fails to file the return by the due date, and
there is a balance due.
Failure to Pay - ..(ANSWER)...Taxpayer fails to pay the tax owed by the due date.
Failure-to-Pay Penalty - ..(ANSWER)...0.5% of the unpaid taxes for each month or
part of a month after the due date, but not more than 25%.
, Negligence or Intentional Disregard - ..(ANSWER)...Taxpayer shows negligence or
disregard of the rules or regulations causing an underpayment.
Negligence-or-Intentional-Disregard Penalty - ..(ANSWER)...20% of the
underpayment.
Substantial Understatment - ..(ANSWER)...Taxpayer understates their tax by the
larger of $5,000 or 10% of the correct tax.
Substantial-Understatement Penalty - ..(ANSWER)...20% of the underpayment.
Form 1040X - ..(ANSWER)...Amended U.S. Individual Income Tax Return
When can an amended return be filed? - ..(ANSWER)...Within three years of the
date the original return was filed, or within two years of the date the tax was
paid, whichever is later.
Can the 1040X be e-filed? - ..(ANSWER)...No.
Household Employee - ..(ANSWER)...An individual who performs nonbusiness
services in a taxpayer's home.
QUESTIONS AND CORRECT ANSWERS | ALREADY
GRADED A+ | LATEST EXAM | VERIFIED ANSWERS
Circular 230 - ..(ANSWER)...Regulations governing the practice of attorneys,
certified public accountants, enrolled agents, enrolled actuaries, and appraisers
before the IRS.
Disclosure - ..(ANSWER)...The release of tax information by an IRS employee.
Due Diligence - ..(ANSWER)...Requirements that tax professionals must follow
when preparing income tax returns.
Noncompliance - ..(ANSWER)...Failure or refusal to comply with the tax code.
Privilege - ..(ANSWER)...Protection from being required to disclose confidential
communications between two parties, such as attorney and client.
Estimated Tax - ..(ANSWER)...The amount of tax a taxpayer expects to owe for the
year after subtracting expected amounts withheld and certain refundable credits.
Estimated Tax Voucher - ..(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.
,Exemption from Withholding - ..(ANSWER)...Status claimed on Form W-4 directing
the employer not to withhold federal income taxes from the employee.
Underpayment Penalty - ..(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.
Withholding Allowances - ..(ANSWER)...An increase by which income tax
withholding on certain income is reduced.
Two Ways to Pay as You Go - ..(ANSWER)...Withholding and Estimated Tax
Payments
Form W-4 - ..(ANSWER)...Employee's Withholding Allowance Certificate
Form 8815 - ..(ANSWER)...Exclusion of Interest From Series EE and I U.S. Savings
Bonds Issued After 1989
Form 2210 - ..(ANSWER)...Underpayment of Estimated Tax by Individuals, Estates,
and Trusts
Form 4868 - ..(ANSWER)...Application for Automatic Extension of Time To File U.S.
Individual Income Tax Return
,Form 8888 - ..(ANSWER)...Allocation of Refund
Form 9465 - ..(ANSWER)...Installment Agreement Request
Amended Return - ..(ANSWER)...A tax return filed on Form 1040X after the
original return has been filed.
Closed Year - ..(ANSWER)...A tax year for which the statute of limitations has
expired.
Open Year - ..(ANSWER)...A taxable year for which the statute of limitations has
not yet expired.
Failure-to-File Penalty - ..(ANSWER)...Generally 5% for each month or part of a
month the return is late, but not more than 25% of the tax not paid.
Failure to File - ..(ANSWER)...Taxpayer fails to file the return by the due date, and
there is a balance due.
Failure to Pay - ..(ANSWER)...Taxpayer fails to pay the tax owed by the due date.
Failure-to-Pay Penalty - ..(ANSWER)...0.5% of the unpaid taxes for each month or
part of a month after the due date, but not more than 25%.
, Negligence or Intentional Disregard - ..(ANSWER)...Taxpayer shows negligence or
disregard of the rules or regulations causing an underpayment.
Negligence-or-Intentional-Disregard Penalty - ..(ANSWER)...20% of the
underpayment.
Substantial Understatment - ..(ANSWER)...Taxpayer understates their tax by the
larger of $5,000 or 10% of the correct tax.
Substantial-Understatement Penalty - ..(ANSWER)...20% of the underpayment.
Form 1040X - ..(ANSWER)...Amended U.S. Individual Income Tax Return
When can an amended return be filed? - ..(ANSWER)...Within three years of the
date the original return was filed, or within two years of the date the tax was
paid, whichever is later.
Can the 1040X be e-filed? - ..(ANSWER)...No.
Household Employee - ..(ANSWER)...An individual who performs nonbusiness
services in a taxpayer's home.
