1|Page
H&R BLOCK INCOME TAX SPECIALIST
EXAM 2025| ACCURATE REAL EXAM
CURRENTLY TESTING QUESTIONS AND
ANSWERS WITH GUARANTEED PASS |
LATEST UPDATE
Requirements that tax professionals must follow when preparing
income tax returns. - ..........ANSWER.......Due Diligence
The amount of tax a taxpayer expects to owe for the year after
subtracting expected amounts withheld and certain refundable
credits. - ..........ANSWER.......Estimated Tax
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. - ..........ANSWER.......Estimated Tax
Voucher
Status claimed on Form W-4 directing the employer not to withhold
federal income taxes from the employee. -
..........ANSWER.......Exemption from Withholding
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If a taxpayer did not pay enough tax on a timely basis during the
year, he may be required to pay an underpayment penalty. -
..........ANSWER.......Underpayment Penalty
Withholding and Estimated Tax Payments - ..........ANSWER.......Two
Ways to Pay as You Go
Employee's Withholding Allowance Certificate -
..........ANSWER.......Form W-4
Application for Automatic Extension of Time To File U.S. Individual
Income Tax Return - ..........ANSWER.......Form 4868
A tax return filed on Form 1040X after the original return has been
filed. - ..........ANSWER.......Amended Return
A tax year for which the statute of limitations has expired. -
..........ANSWER.......Closed Year
A taxable year for which the statute of limitations has not yet
expired. - ..........ANSWER.......Open Year
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Generally 5% for each month or part of a month the return is late,
but not more than 25% of the tax not paid. -
..........ANSWER.......Failure-to-File Penalty
Taxpayer fails to file the return by the due date, and there is a
balance due. - ..........ANSWER.......Failure to File
Amended U.S. Individual Income Tax Return -
..........ANSWER.......Form 1040X
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. -
..........ANSWER.......When can an amended return be filed?
No. - ..........ANSWER.......Can the 1040X be e-filed?
Those from such sources as dividends, interest, capital gains and
losses, and royalties. - ..........ANSWER.......Portfolio Income and Losses
Supplemental Income and Loss - ..........ANSWER.......Schedule E
Payments received for the right to extract natural resources from
the taxpayer's property or to use a taxpayer's literary, musical, or
artistic creation. - ..........ANSWER.......Royalty
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A series of payments under a contract made at regular intervals over
a period of more than one year. - ..........ANSWER.......Annuity
The owner or recipient of funds in an account, such as an IRA, or
from an insurance policy or will. - ..........ANSWER.......Beneficiary
When a person puts money into a retirement plan. -
..........ANSWER.......Contribution
An employee benefit plan that provides determinable benefits not
based on employer profits. - ..........ANSWER.......Defined Benefit Plan
An employee benefit plan that provides a separate account for each
person covered and pays benefits based on account earnings. -
..........ANSWER.......Defined Contribution Plan
A taxable pension from an employer-funded disability plan or a
disability provision of a retirement plan. -
..........ANSWER.......Disability Pension
When a person takes or receives money from a retirement plan. -
..........ANSWER.......Distribution
H&R BLOCK INCOME TAX SPECIALIST
EXAM 2025| ACCURATE REAL EXAM
CURRENTLY TESTING QUESTIONS AND
ANSWERS WITH GUARANTEED PASS |
LATEST UPDATE
Requirements that tax professionals must follow when preparing
income tax returns. - ..........ANSWER.......Due Diligence
The amount of tax a taxpayer expects to owe for the year after
subtracting expected amounts withheld and certain refundable
credits. - ..........ANSWER.......Estimated Tax
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. - ..........ANSWER.......Estimated Tax
Voucher
Status claimed on Form W-4 directing the employer not to withhold
federal income taxes from the employee. -
..........ANSWER.......Exemption from Withholding
,2|Page
If a taxpayer did not pay enough tax on a timely basis during the
year, he may be required to pay an underpayment penalty. -
..........ANSWER.......Underpayment Penalty
Withholding and Estimated Tax Payments - ..........ANSWER.......Two
Ways to Pay as You Go
Employee's Withholding Allowance Certificate -
..........ANSWER.......Form W-4
Application for Automatic Extension of Time To File U.S. Individual
Income Tax Return - ..........ANSWER.......Form 4868
A tax return filed on Form 1040X after the original return has been
filed. - ..........ANSWER.......Amended Return
A tax year for which the statute of limitations has expired. -
..........ANSWER.......Closed Year
A taxable year for which the statute of limitations has not yet
expired. - ..........ANSWER.......Open Year
,3|Page
Generally 5% for each month or part of a month the return is late,
but not more than 25% of the tax not paid. -
..........ANSWER.......Failure-to-File Penalty
Taxpayer fails to file the return by the due date, and there is a
balance due. - ..........ANSWER.......Failure to File
Amended U.S. Individual Income Tax Return -
..........ANSWER.......Form 1040X
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. -
..........ANSWER.......When can an amended return be filed?
No. - ..........ANSWER.......Can the 1040X be e-filed?
Those from such sources as dividends, interest, capital gains and
losses, and royalties. - ..........ANSWER.......Portfolio Income and Losses
Supplemental Income and Loss - ..........ANSWER.......Schedule E
Payments received for the right to extract natural resources from
the taxpayer's property or to use a taxpayer's literary, musical, or
artistic creation. - ..........ANSWER.......Royalty
, 4|Page
A series of payments under a contract made at regular intervals over
a period of more than one year. - ..........ANSWER.......Annuity
The owner or recipient of funds in an account, such as an IRA, or
from an insurance policy or will. - ..........ANSWER.......Beneficiary
When a person puts money into a retirement plan. -
..........ANSWER.......Contribution
An employee benefit plan that provides determinable benefits not
based on employer profits. - ..........ANSWER.......Defined Benefit Plan
An employee benefit plan that provides a separate account for each
person covered and pays benefits based on account earnings. -
..........ANSWER.......Defined Contribution Plan
A taxable pension from an employer-funded disability plan or a
disability provision of a retirement plan. -
..........ANSWER.......Disability Pension
When a person takes or receives money from a retirement plan. -
..........ANSWER.......Distribution
