TEST BANK FOR SOUTH-WESTERN
a a a
FEDERAL TAXATION 2025:
a a a
COMPREHENSIVE, 48TH EDITION
a a a
BY YOUNG/PERSELLIN ISBN;
a a a
9780357988817, ALL 30 CHAPTERS
a a a a
COVERED WITH CORRECT
a A
QUESTIONS AND ANSWERS
,
,Chapter a 01 a 2025 a - a Comprehensive
Indicate a whether a the a statement a is a true a or
a false.
a 1. aIf amore aIRS aaudits aare aproducing aa ahigher anumber aof ano a change aresults, athis aindicates aincreased
acompliance aon athe apart aof ataxpayers.
True
False
a 2. 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
a 4. aIf afraud ais ainvolved, athere ais ano atime alimit aon athe aassessment aof aa adeficiency aby athe aIRS.
True
False
a 5. aUnder astate aamnesty aprograms, aall adelinquent aand aunpaid aincome ataxes aare aforgiven.
True
False
a 6. a The a Federal a estate a and a gift a taxes a are a examples a of a progressive a rate a taxes.
True
False
a 7. aThe aIRS ais arequired ato aredetermine athe ainterest arate aon aunderpayments aand aoverpayments aonce aa ayear.
True
False
a 8. 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
a 10. aUnlike aFICA, aFUTA arequires athat aemployers acomply awith astate aas awell aas aFederal arules.
True
False
Page a1
, Name: Class: Date:
Chapter a 01 a 2025 a -
a Comprehensive
a 11. aIf aa aspecial aagent abecomes ainvolved ain athe aaudit aof aa areturn, athis aindicates athat athe aIRS asuspects
athat afraud ais ainvolved.
True
False
a 12. aTwo apersons awho alive ain athe asame astate abut ain adifferent acounties amay anot abe asubject ato athe asame
ageneral asales atax arate.
True
False
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
a 14. 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
a 15. aA aparent aemploys aher atwin adaughters, aage a17, ain aher asole aproprietorship. aThe adaughters aare anot
asubject ato aFICA acoverage.
True
False
a 16. 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 a all aof athe a states a that a impose aa a general asales atax a also ahave a a 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
a 20. 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
Page a2
a a a
FEDERAL TAXATION 2025:
a a a
COMPREHENSIVE, 48TH EDITION
a a a
BY YOUNG/PERSELLIN ISBN;
a a a
9780357988817, ALL 30 CHAPTERS
a a a a
COVERED WITH CORRECT
a A
QUESTIONS AND ANSWERS
,
,Chapter a 01 a 2025 a - a Comprehensive
Indicate a whether a the a statement a is a true a or
a false.
a 1. aIf amore aIRS aaudits aare aproducing aa ahigher anumber aof ano a change aresults, athis aindicates aincreased
acompliance aon athe apart aof ataxpayers.
True
False
a 2. 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
a 4. aIf afraud ais ainvolved, athere ais ano atime alimit aon athe aassessment aof aa adeficiency aby athe aIRS.
True
False
a 5. aUnder astate aamnesty aprograms, aall adelinquent aand aunpaid aincome ataxes aare aforgiven.
True
False
a 6. a The a Federal a estate a and a gift a taxes a are a examples a of a progressive a rate a taxes.
True
False
a 7. aThe aIRS ais arequired ato aredetermine athe ainterest arate aon aunderpayments aand aoverpayments aonce aa ayear.
True
False
a 8. 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
a 10. aUnlike aFICA, aFUTA arequires athat aemployers acomply awith astate aas awell aas aFederal arules.
True
False
Page a1
, Name: Class: Date:
Chapter a 01 a 2025 a -
a Comprehensive
a 11. aIf aa aspecial aagent abecomes ainvolved ain athe aaudit aof aa areturn, athis aindicates athat athe aIRS asuspects
athat afraud ais ainvolved.
True
False
a 12. aTwo apersons awho alive ain athe asame astate abut ain adifferent acounties amay anot abe asubject ato athe asame
ageneral asales atax arate.
True
False
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
a 14. 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
a 15. aA aparent aemploys aher atwin adaughters, aage a17, ain aher asole aproprietorship. aThe adaughters aare anot
asubject ato aFICA acoverage.
True
False
a 16. 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 a all aof athe a states a that a impose aa a general asales atax a also ahave a a 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
a 20. 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
Page a2
