1. Relate the following document's facts to the U.S. government's current desire to reduce the deficit and reduce taxes (or just to eliminating the AMT) as to which group will likely fund the goals? Explain why? https:/researchstlouisfed.org/publications/economic-synopses/2016/11/04/a-closer-look-at federal-income-taxes 2. What is the IRS First-Time Penalty Abatement? Which taxpayers might qualify for it? Whicth taxpayers cannot qualify? For those that can qualify, which penalties can and which cannot be included? What facts qualify those in the potentially qualifying groups. 3. What can we determine about a taxpayer (or joint taxpayers) filing a Form 1040 with Schedules A, B, C, D. SE and Forms 4562, 8283, 8562, 8829, 8949, 8938, & FinCEN Form 114? 4. What can we determine about a taxpayer (or joint taxpayers) filing a Form 1040 with Schedules A, E, & D and Forms 2106, 3903, 4562, 4797, 6198, & 8582