Question 1.1.Which of the following statements is not true regarding the credit for the elderly or the disabled? (Points : 1)

Taxpayer may not have earned income. Taxpayer may receive social security benefits. Taxpayer must be age 65 or older. Taxpayer must be retired or on permanent and total disability.

Question 2.2.If on any day during the month, an employer accumulates $100,000 or more in tax liability, the taxes must be deposited: (Points : 1)

Before the close of the business day on which the liability occurs. By the last day of the month if the employer is a monthly schedule depositor. By either the following Wednesday or Friday if the employer is a semiweekly schedule depositor. By the next banking day.

Question 3.3.Presley and Jake are married filing joint taxpayers. They have twin sons, ages 7. If their AGI is $116,950, what amount of child tax credit can they claim? (Points : 1)

$0. $1,000. $1,650. $2,000.

Question 4.4.April and Joey are both 74 years old and received $1,500 in nontaxable social security benefits. Their AGI for the year was $18,000. How much can April and Joey claim as a credit for the elderly or the disabled? (Points : 1)

$300. $1,125. $1,500. $2,000.

Question 5.5.DJ and Nicolette paid $1,600 in qualifying expenses for their daughter Nicole to attend the University of Nevada. Nicole is a sophomore. DJ and Nicolette's AGI is $175,000. What is their maximum allowable American opportunity tax credit after the credit phase-out based on AGI is taken into account? (Points : 1)

$0. $400. $600. $1,600.

Question 6.6.Employers with a payroll tax liability of less than $2,500 at the end of any quarter pay their tax liability: (Points : 1)

Directly to the authorized depository after the end of the quarter when Form 941 is filed. Directly to the authorized depository on the same day the Form 941 is mailed. Directly only if they use the EFTPS form of payment before Form 941 is filed. Directly to the Internal Revenue Service when they file Form 941.

Question 7.7.Valerie and Marty are both age 51 and file a joint return. They have one child who is age 17. They have combined AGI in 2014 of $180,000. What is their maximum permitted contribution to a Coverdell Education Savings Account for 2014 assuming no other persons make contributions? (Points : 1)

$0. $2,000. $5,500. $6,500.

Question 8.8.Joseph paid $1,750 in qualifying expenses for his daughter who attended a community college. How much is Joseph's lifetime learning credit without regard to AGI limitations or other credits? (Points : 1)

$250. $350. $825. $1,750.

Question 9.9.The Anderson Company started its business on August 2, 2014. On August 15th, it paid wages for the first time and accumulated a tax liability of $47,000. On August 29, it incurred an additional tax liability of $53,000. How is the Anderson Company treated as a payroll tax depositor? (Points : 1)

Monthly because its accumulated tax liability is not more than $100,000 on any one day. Monthly because new companies do not have a lookback period. Semiweekly because its accumulated tax liability is $100,000 for the month. Semiweekly for this pay period only and then monthly for the remainder of the year.

Question 10.10.Julia and Omar are married and file a joint tax return. They have two dependent daughters, ages 14 and 18. If their AGI is $98,000, what amount of child tax credit can they claim? (Points : 1)

$0. $1,000. $1,650. $2,000.