What must taxpayers do when they file for an extension?
Estimate how much tax will be owed and pay the estimate with the extension
Pay the exact balance owed when filing the extension
Execute a promissory note to the US Treasury for the exact balance owed
File the return only when the extension expires
What must an S corporation do to file after March without a penalty?
Request a month extension to file before March
Request a month extension to file before April
File the return on or before April
Request a month extension to file before March
How much is the penalty for substantial understatement of tax?
of understatement
of understatement
of understatement
of understatement
Under which circumstance would the statute of limitations increase to six years?
Gift tax returns
Death of the taxpayer
Fraudulent omission of income
Substantial omission of income
Which action refers to a situation where the facts have not yet occurred?
Preparing a federal tax return
Evaluation for an openfact pattern
O Consultation for a closedfact pattern
Consultation for a completed transaction
