1. workers compensation received for injury or illness is not taxable.
a. true
b. false
2. a taxpayer cannot contribute to an IRA if he has a pension plan at work
a. true
b. false
3. when a taxpayer dies, a tax return does not to be filed for the year he died.
a. true
b. false
4. if a dependent has total income consisting of $800 of unearned income, he does not have to file a return.
a. true
b.false
5.. the child tax credit is a refundable credit.
a. true
b. false
6. social security is not taxable if the recipient is filing single and has a total income of less than 15,000$ (inculdes social security payments received)
a. true
b. false
7 social security and railroad tier 1 benefits are never taxable
a. true
b. false
8. gross income filing requirements for a single taxpayer, age 30 not blind or self-employed is
a. 3,200$
b. 5,000$
b. 5,000$
c. 8,200$
d. 9,450$
2006-09-26 16:15:39 · 10 answers · asked by Lizzeth 3 in Business & Finance ➔ Taxes ➔ United States
You are obviously taking a tax test and want us to help you cheat. What are you going to do when you finally get the job and a client comes up and asks you, "Is the Child Tax Credit refundable?".
What are you going to do, say, "Hold on, let me type it into Yahoo! I'll have an answer for you soon. Oh, here it is, JoeBlow said 'no'. Oh, wait...SallyInSeatle said 'maybe'. OK, here we go, CPAdude said 'only if you have a carry-forward Section 179 unallowed loss'"
Look up the answers yourself for goodness sake or drop the course and find something you really like to do for a living.
By the way, ShyKid, you know even less that you thought.
2006-09-26 16:23:48 · answer #1 · answered by TaxMan 5 · 2⤊ 0⤋
Workers comensation is NOT TAXABLE
May contribute to an IRA if a "participant" in his employer plan and his Adjusted Gross Income is under certain levels, depending on filing status.
Has to file a tax return in the year of death if taxable income was received during the year or there was withholdings from wages, pensions that need to be refunded.
$800 or less child does not have a tax, if more then then $1600 taxed at parents rate.
Child Tax credit is a non refundable credit, BUT does come into play when working with the Additional child tax credit form 8812 for certain taxpayers.
$25,000 for Single, $32,000 Married filing joint. are bench marks of 50% of SS plus other income.
Gross income filing requrements is $8,200 for 2005, unless you have withholdings and want them refunded or need to file because you are applying for a loan
Now that you have the answers I hope we are talking about the same tax years on the exam. Because if not then they could all be wrong
2006-09-26 23:41:59 · answer #2 · answered by dillon Y 3 · 0⤊ 0⤋
1. True
2. True
3. False
4. True
5. False
6. True
7. False
8. c
2006-09-27 17:01:37 · answer #3 · answered by Dee 4 · 0⤊ 0⤋
taking a tax course hey
2006-09-26 23:17:51 · answer #4 · answered by yubuggin? 2 · 0⤊ 0⤋
I don't pay taxes, but 5 is A. =) I helped!
2006-09-26 23:16:43 · answer #5 · answered by Anonymous · 0⤊ 1⤋
1.false
2. false
3. false
4. false
5. true
6. true
7. false
8. $8,200.00
2006-09-27 10:49:23 · answer #6 · answered by Kenshin 5 · 0⤊ 0⤋
no need for that taxman the lady not doing any harm you sound like you in dire need of a ?
2006-09-26 23:26:44 · answer #7 · answered by Anonymous · 0⤊ 1⤋
1. false
2. false
3. false
4. ? off the top of my head
5. false
6. true
7. false
8. ? off the top of my head
go to irs.gov
2006-09-26 23:20:07 · answer #8 · answered by Speaking_Up 5 · 0⤊ 1⤋
the internal revenue service has a website-go there
2006-09-26 23:18:10 · answer #9 · answered by Anonymous · 1⤊ 1⤋
f,f,f,t,f,t,f,c
2006-09-27 09:18:02 · answer #10 · answered by LORD Z 7 · 0⤊ 0⤋