Question 1

Which of the following would lead to imposition of civil penalties?

Accepted Answer

A)   violation of civil protocols
B)   violation of tax laws as a result of negligence
C)   violation of tax statues due to reasonable cause
D)   violation of social rules and normsE) A) and C)
F) A) and B)

Question 2

The civil fraud penalty is:

Accepted Answer

A)   5%
B)   20%
C)   25%
D)   75%E) B) and C)
F) A) and B)

Question 3

Cite two instances that would lead to imposition of criminal penalties on the return preparers.

Accepted Answer

Criminal penalties would be imposed on a...

Question 4

What is the statute of limitations? Explain the nature of statutes of limitations. List the circumstances in which the statute of limitations can be suspended.

Accepted Answer

The Code establishes a specific period o...

Question 5

The period for filing a claim for refund is extended when overpayment results from:

Accepted Answer

A)   Overstatement of incomes in the income statement.
B)   Ignorance of tax laws on the part of return preparers.
C)   Negligence on the part of return preparer while filing returns.
D)   Carryback of a net operating loss, capital loss or certain credits.E) A) and D)
F) All of the above

Question 6

The standard for conviction in a criminal case is establishment of:

Accepted Answer

A)   guilt with some reasonable doubt
B)   guilt beyond reasonable doubt
C)   any guilt even though highly doubtful
D)   criminal intent even though not implementedE) A) and B)
F) A) and C)

Question 7

A 'large corporation' as defined in the Code is one which had a taxable income of:

Accepted Answer

A)   $10 million or more in any of the 10 immediately preceding taxable years.
B)   $2 million or more in any of the two immediately preceding taxable years.
C)   $5 million or more in any immediately preceding five taxable years.
D)   $1 million or more in any of the three immediately preceding taxable years.E) A) and B)
F) A) and C)

Question 8

A tax return preparer may disclose information obtained from the taxpayer without being subject to civil and criminal penalty if such disclosure is:

Accepted Answer

A)   For other than the specific purpose of preparing a tax return.
B)   Pursuant to fulfillment of his own financial goals.
C)   Pursuant to any provisions of the code, or to a court order.
D)   Required for the growth of his profession.E) A) and C)
F) A) and B)

Question 9

If a taxpayer is convicted of criminal fraud, he or she can contest a civil fraud determination.

Accepted Answer

A) True 
 B)False

Question 10

The statute of limitations refers to a:

Accepted Answer

A)   Set of provisions that limits a return preparer's rights.
B)   Specific period of time within which returns must be filed.
C)   Set of provisions that limits a taxpayer's rights.
D)   Specific period of time within which all taxes must be assessed and collected, and all refund claims must be made.E) A) and D)
F) B) and C)

Exam 14: Tax Practice and Administration: Sanctions, Agreements, and Disclosures

What is the statute of limitations? Explain the nature of statutes of limitations. List the circumstances in which the statute of limitations can be suspended.

Correct Answer
verified
The Code establishes a specific period o...
View Answer

Cite two instances that would lead to imposition of criminal penalties on the return preparers.

Correct Answer
verified
Criminal penalties would be imposed on a...
View Answer

A 'large corporation' as defined in the Code is one which had a taxable income of:

Correct Answer
verified

A tax return preparer may disclose information obtained from the taxpayer without being subject to civil and criminal penalty if such disclosure is:

Correct Answer
verified

The civil fraud penalty is:

Correct Answer
verified

The standard for conviction in a criminal case is establishment of:

Correct Answer
verified

The period for filing a claim for refund is extended when overpayment results from:

Correct Answer
verified

If a taxpayer is convicted of criminal fraud, he or she can contest a civil fraud determination.

Correct Answer
verified

Which of the following would lead to imposition of civil penalties?

Correct Answer
verified

The statute of limitations refers to a:

Correct Answer
verified

Exam 14: Tax Practice and Administration: Sanctions, Agreements, and Disclosures

What is the statute of limitations? Explain the nature of statutes of limitations. List the circumstances in which the statute of limitations can be suspended.

Correct AnswerverifiedThe Code establishes a specific period o...View AnswerShow Answer

Cite two instances that would lead to imposition of criminal penalties on the return preparers.

Correct AnswerverifiedCriminal penalties would be imposed on a...View AnswerShow Answer

A 'large corporation' as defined in the Code is one which had a taxable income of:

Correct AnswerverifiedShow Answer

A tax return preparer may disclose information obtained from the taxpayer without being subject to civil and criminal penalty if such disclosure is:

Correct AnswerverifiedShow Answer

The civil fraud penalty is:

Correct AnswerverifiedShow Answer

The standard for conviction in a criminal case is establishment of:

Correct AnswerverifiedShow Answer

The period for filing a claim for refund is extended when overpayment results from:

Correct AnswerverifiedShow Answer

If a taxpayer is convicted of criminal fraud, he or she can contest a civil fraud determination.

Correct AnswerverifiedShow Answer

Which of the following would lead to imposition of civil penalties?

Correct AnswerverifiedShow Answer

The statute of limitations refers to a:

Correct AnswerverifiedShow Answer

Correct Answer
verified
The Code establishes a specific period o...
View Answer

Correct Answer
verified
Criminal penalties would be imposed on a...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified