** just answers no explanation

48- Choose the response that completes the boto following sentence. A taxpayer may claim an exemption from withholding on their Form W-4 when they:

Did not have a federal income tax liability for the prior year and do not expect to have any liability for the current year.

Do not want to have any taxes withheld from a second job.

Experience a life-changing situation that will likely result in eligibility for one or more tax credits.

Have considerable amounts of self-employment or investment income.

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Question 49 of 50.

Max, a self-employed taxpayer, did not have all the information he needed to timely file his 2020 tax return by May 17, 2021. Although he requested an automatic extension, he did not include a payment when he filed the extension. He then filed his return ten days later, on May 27, 2021, reporting a $950 balance due. How much must Max pay in failure-to-file and failure-to-pay penalties?

No failure-to-file penalty or failure-to-pay penalty will apply.

His failure-to-file penalty is $0, but he has a failure-to-pay penalty of 0.5% of his unpaid tax.

His failure-to-file penalty is 5% of his unpaid tax. He also has a failure-to-pay penalty of 0.5%, for an overall total of 5.5%.

He has a $435 failure-to-file penalty plus an additional penalty of 0.5%, applied to his unpaid tax.

Question 50 of 50.

Courtney receives most of her income from wages from her job as a high school teacher. She also receives supplemental income from freelance tutoring part-time during the summer. Because her tutoring income is not subject to withholding, Courtney is concerned that she will have a balance due at the end of the year. Which of the following is an option you can recommend to Courtney to avoid a balance due?

Claim an exemption from withholding.

Investigate whether she qualifies to classify her tutoring income as a hobby rather than as business income.

Send a notarized letter to her employer requesting that they withhold additional amounts from her pay each month.

Use the IRS Tax Withholding Estimator to determine her estimated tax obligation and complete a new Form W-4 if necessary.