Which of the following statements is false? (Points : 2) A taxpayer can be charged a penalty for the late payment of taxes if an extension to file was granted. The interest charged on the late payment of taxes is deductible on the federal tax return. The penalty for late filing and late payment of taxes is 5% of the balance of tax due with the return for each month it is delinquent. A taxpayer who can establish a reasonable cause for the late filing of his or her tax return will not be charged a late filing penalty. Question 2.2. (TCO 8) Peter did not extend or file his 2013 federal tax return until December 3, 2014. His total tax liability was $5,000; the return showed a net refund due of $1,600. He filed late because he was in Las Vegas with his old fraternity buddies. What amount of late-filing penalty will he owe for the 2013 tax year? (Points : 2) $500 $150 $600 $0 Question 3.3. (TCO 8) Mr. and Mrs. Fields filed a complete and accurate return for 2014 on April 14, 2015. When will the statute of limitations expire for their 2013 return? (Points : 2) April 15, 2019 April 15, 2018 August 15, 2016 October 14, 2015 Question 4.4. (TCO 8) Which of the following is generally considered an indication that Benjamin has committed tax fraud? (Points : 2) Benjamin made major addition errors. Benjamin's business records and documents were destroyed in a flood. Benjamin employed a CPA to prepare his tax return. Benjamin claimed his spouse as a dependent. Question 5.5. (TCO 8) Which of the following statements concerning the innocent spouse rule is (are) true? (Points : 2) The rule is used to relieve one spouse of an additional tax liability assessed upon a joint return related to an item that the other spouse incorrectly reported. The tax deficiency in question must be attributable to the omission of gross income or the claim of bogus deductions or credits made by the other spouse on a joint return. The innocent spouse must show that he or she did not know, and had no reason to know, that the return understated the joint federal tax liability. All of the above Question 6.6. (TCO 8) Which of the following is true in regards to the innocent spouse rule? (Points : 2) Normal spousal support is not a factor in the rule. Normal spousal support is considered a significant benefit. Three conditions have to be met to be relieved of liability. Two out of three conditions have to be met to be relieved of liability. Question 7.7. (TCO 8) A petition can be filed on a refusal to pay with the _____. (Points : 2) Supreme court U.S. tax court federal court local court Question 8.8. (TCO 8) In a tax evasion case, a couple may be fined up to _____. (Points : 2) $50,000 $100,000 $150,000 $500,000 Question 9.9. (TCO 8) Which of the following is not considered a tax preparer? (Points : 2) Licensed attorney CPA Enrolled agent TurboTax software Question 10.10. (TCO 8) The annual interest rate imposed as a result of underpayment is _____. (Points : 2) long-term rate plus three percentage points short-term rate plus four percentage points compound monthly compunded daily