Now that you have finished reviewing all course material, it’s time to take the final exam for this course. In compliance with NASBA rules and regulations, you must score a 70% or higher on this final exam to earn CPE credits for this course. There is an unlimited amount of time available to take the final exam, and you have the option of taking the final exam as many times as needed to pass. Good luck!
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If a taxpayer’s gross income either meets or exceeds the filing threshold for their filing status, then a federal income tax return needs to be filed with the IRS. However, even if a taxpayer’s gross income is below the filing threshold for their filing status, there are still situations which may require the taxpayer to file a federal income tax return. Which of the following is not one of those situations?
Married taxpayers filing jointly are required to file Form 8938, Statement of Foreign Financial Assets whenever they possess foreign assets with an aggregate value at any point during the tax year over what threshold?
Which of the following filing statuses has conditions pertaining to the taxpayer’s filing status, marital status, and household maintenance?
In order to file as a head of household, a taxpayer must maintain a household that is the principle place of abode for either a qualifying child or a qualifying relative. Which of the following individuals would not be considered a qualifying relative for the purposes of this test?
If two married individuals choose to file separate returns for a tax year, they can later elect to file a joint return for that tax year by filing what form?
When one spouse successfully files as an injured spouse, The injured spouse is entitled to a of any amounts paid to the IRS that would have been put towards the payment of past-due taxes that .
If a spouse doesn’t qualify for either innocent spouse relief or separation of liability relief, they may still obtain relief from tax liabilities, penalties, and interest by electing for .
When two spouses elect to file as married filing separately, which of the following credits and deductions are they no longer allowed to claim?
What is the basic standard deduction amount for single taxpayers in the 2020 tax year?
Which of the following taxpayers are not eligible for the standard deduction?