Question 5 1 pts An employer provides employees group life insurance equal to the employee's annual salary. Brutus earns $60,000 per year. How much of the life insurance coverage is included in Brutus' gross income? O $0 O $50,000 O $60,000 O $10,000 Question 6 1 pts An employer provides an employee with life insurance coverage with a death benefit of $75,000. The same coverage is offered to all employees. Part of the life insurance benefit provided will be taxable to the employee. True False Question 7 1 pts An airline may permit an employee to fly as a passenger for free if the aircraft is not completely booked. Such a fringe benefit is: O taxable a non-taxable no additional cost service O a qualified employee discount O a non-taxable de minimis fringe benefit Question 8 1 pts In order to exclude the cost of lodging provided to an employee from the employee's gross income, the lodging must be provided for the employee's convenience. True False Question 1 pts Which one of the following statements is true regarding the filing of an individual tax return? O Individuals can get a 6-week extension to file returns if Punxsutawney Phil sees his shadow on Groundhog Day. O Individual tax returns are generally due on April 15 each year with some minor exceptions (including pandemics). O Taxpayers do not need to file a return at all every 7th year in celebration of the Year of Jubilee. O Tax returns must be filed before the first cardinal appears each spring. Question 10 1 pts In order to exclude the entire discount on goods sold by an employer to an employee, the employee must purchase the employer's products: at a discount no larger than 20% off the price at which those goods are typically sold by the employer. O None of these no more than three times per year at a discount no larger than the employer's gross profit percentage for the employer's goods