1. Both corporations and trusts are required to file income tax returns.

True or False?

2. Partnerships, public corporations, private corporations, and trusts are required to file income tax returns.

True or False?

3. The use of progressive income tax rates encourages tax evasion.

True or False?

4. If a tax system has horizontal equity, individuals in the same economic circumstances will pay the same amount of taxes.

True or False?

5. An individual is required to make deductible spouse support payments on an annual basis. This individual can request that his employer reduce the amount withheld for income taxes.

True or False?

6. An individual, whose only income is from an unincorporated business, dies on December 29, 2019. This individual’s 2019 tax return must be filed by June 15, 2020.

True or False?

7. An individual whose filing date is April 30, does not file his tax return until June 27. He has not previously missed a filing date. His penalty for late filing would be equal to 6 percent of the tax owing on the filing date.

True or False?

8. Without regard to the date on which their tax return must be filed, all corporations must pay any balance owing within three months of their year end.

True or False?

9. For individuals, trusts, and Canadian controlled private corporations, reassessment can occur for up to three years from the date of the mailing of the original assessment.

True or False?