1) The monthly failure-to-pay on time penalty is usually

Select one:

a. % of any tax not paid by the regular due date

b. % of any tax not paid by the regular due date

c. 2 % of any tax not paid by the regular due date

d. 5% of any tax not paid by the regular due date

2) Ian and Harriet divorced in 2017. Their son, Preston, is age 10 and has lived with Ian for the last two years. The divorce decree gives Harriet the right to claim Preston as a dependent. Who can claim Preston for the earned income credit?

Select one:

a. Neither Ian nor Harriet

b. Harriet

c. Ian

d. Either Ian or Harriet, they can decide which

3) To deduct gambling losses a taxpayer must keep records that show both the amounts of winnings and losses. The record should claim all of the following, except

Select one:

a. The date and type of specific wage or wagering activity

b. The name and address or location of the gambling establishment

c. The source of the funds used to make a wager

d. The names of other persons present at the gambling establishment

e. The amounts won or lost