|
|
||||||||||||||||||||||
Once you complete the Filing a Tax Return Course, you will have satisfied the 20 hour requirements. This tax Course allows you 3 hours of continuing education which satisfies the required 3 hours Updates part of the 20 hour tax course. Tax School Home Page Student Instructions: Follow the following 4 steps:
Important: If you fail a topic you can try again until you pass. You can try again as many times as you need in order to pass. Every time you try the questions will be different. Most forms are in Adobe Acrobat PDF format.
|
||||||||||||||||||||||
|
Review Questions |
||||||||||||||||||||||
| Question | ||||||||||||||||||||||
|
1 of 25 |
The tax rate of ________ affects singles whose
income exceeds $413,200 ($464,850 for married taxpayers filing a
joint return), up from $406,750 and $457,600, respectively.
| ___
|
|||||||||||||||||||||
| 2 of 25 |
The standard deduction rises to _______ for
singles and married persons filing separate returns for tax year
2015.
| ___
|
|||||||||||||||||||||
| 3 of 25 |
The standard deduction rises to _______ for
married couples filing jointly for tax year 2015.
| ___
|
|||||||||||||||||||||
| 4 of 25 |
The standard deduction for heads of household
rises to _______ for tax year 2015.
| ___
|
|||||||||||||||||||||
| 5 of 25 |
The limitation for itemized deductions to be
claimed on tax year 2015 returns of individuals begins with
incomes of
| ___
|
|||||||||||||||||||||
| 6 of 25 |
The limitation for itemized deductions to be
claimed on tax year 2015 returns of married filing jointly
individuals begins with incomes of
| ___
|
|||||||||||||||||||||
| 7 of 25 |
The personal exemption rises to
| ___
|
|||||||||||||||||||||
| 8 of 25 |
The exemption is subject to a phase-out that
begins with adjusted gross incomes of
| ___
|
|||||||||||||||||||||
9 of 25 |
The exemption for married filing jointly is
subject to a phase-out at adjusted gross income of
| ___
|
|||||||||||||||||||||
| 10 of 25 |
The Alternative Minimum Tax exemption amount for
tax year 2015 is
| ___
|
|||||||||||||||||||||
| 11 of 25 |
The married filing jointly Alternative Minimum
Tax exemption amount for tax year 2015 is ______ for married
couples filing jointly.
| ___
|
|||||||||||||||||||||
| 12 of 25 |
The maximum Earned Income Credit amount is
________ for taxpayers filing jointly who have 3 or more
qualifying children,
| ___
|
|||||||||||||||||||||
| 13 of 25 |
Estates of decedents who die during 2015 have a
basic exclusion amount of
| ___
|
|||||||||||||||||||||
| 14 of 25 |
The annual dollar limit on employee contributions
to employer-sponsored healthcare flexible spending arrangements
(FSA)
| ___
|
|||||||||||||||||||||
| 15 of 25 |
The small employer health insurance credit
provides that the maximum credit is phased out based on the
employer’s number of full-time equivalent employees in excess of
10 and the employer’s average annual wages in excess of
| ___
|
|||||||||||||||||||||
| 16 of 25 |
For tax years beginning after December 31, 2012,
a 0.9% Additional Medicare Tax applies to Medicare wages,
self-employment income, and railroad retirement (RRTA)
compensation based on incomes of married filing jointly
taxpayers that exceeds
| ___
|
|||||||||||||||||||||
| 17 of 25 |
For tax years beginning after December 31, 2012,
a 0.9% Additional Medicare Tax applies to Medicare wages,
self-employment income, and railroad retirement (RRTA)
compensation based on incomes of single taxpayers that exceeds
| ___
|
|||||||||||||||||||||
| 18 of 25 |
For tax years beginning after December 31, 2012,
a 0.9% Additional Medicare Tax applies to Medicare wages,
self-employment income, and railroad retirement (RRTA)
compensation based on incomes of married filing separate
taxpayers that exceeds
| ___
|
|||||||||||||||||||||
| 19 of 25 |
For tax years beginning after December 31, 2012,
a 0.9% Additional Medicare Tax applies to Medicare wages,
self-employment income, and railroad retirement (RRTA)
compensation based on incomes of head of household taxpayers
that exceeds
| ___
|
|||||||||||||||||||||
| 20 of 25 |
All Medicare wages, railroad retirement (RRTA)
compensation, and self-employment income currently subject to
Medicare Tax are subject to Additional Medicare Tax
| ___
|
|||||||||||||||||||||
| 21 of 25 |
These are combined to determine if income exceeds
the Additional Medicare Tax threshold
| ___
|
|||||||||||||||||||||
| 22 of 25 |
There are no special rules for nonresident aliens
and U.S. citizens living abroad for purposes of the additional
Medicare tax provision. Medicare wages, railroad retirement (RRTA)
compensation, and self-employment income earned by such
individuals will
| ___
|
|||||||||||||||||||||
| 23 of 25 |
An employer is responsible for withholding the
Additional Medicare Tax from wages or railroad retirement (RRTA)
compensation it pays to an employee in excess of $200,000 in a
calendar year
| ___
|
|||||||||||||||||||||
| 24 of 25 |
An employer is required to begin withholding
Additional Medicare Tax in the pay period in which it pays wages
or railroad retirement (RRTA) compensation in excess of $200,000
to an employee
| ___
|
|||||||||||||||||||||
| 25 of 25 |
To account for their Additional Medicare Tax
liability, some taxpayers may need to
| ___
|
|||||||||||||||||||||
| Please Note: If you filled out the answers directly on this page, please print this page or write down the answers before you proceed to submit them by clicking on "Review Questions" link in step 3 above. | ||||||||||||||||||||||
|
Back to Tax School Homepage |
||||||||||||||||||||||
| Copyright © 2015 [Hera's Income Tax School]. All Annual Filing Season Program rights reserved. | ||||||||||||||||||||||
| Revised: 07/26/15 |
