Tax Payments
Refund Options
Estimated Taxes
Interest - Penalities
Completing the Return
100
Paying A balance due options
What are Check or money order Direct Debit EFTPS Credit Card
100
Ways in which taxpayers may obtain a refund
What is a check; direct deposit; application of some or all of the refund to next years estimated taxes
100
Estimated taxes must be paid if he/she expects to
What is owe at least $1000 for year.
100
Late filing Penalty
What is 5% for each month (not to exceed 25%)
100
Special signing situations include
What are Deceased Taxpayer Minor Child Incapacitated spouse Military Spouse
200
An agreement between the taxpayer and the IRS that settles a tax liability for less than the full amount
What is an Offer in Comprise
200
A taxpayer who wants to split the refund into one or more accounts must use this
What is Form 8888 "Allocation of Refund (Including Saving Bonds")
200
Estimated taxes penalties will not be assessed if the withholding and estimated payments
What is equal to 90% of the tax shown on the current years return or 100% of the tax shown on the prior years return.
200
failure to pay penalty
What is .5% of the upaid taxes for each month after the due date the tax is not paid.
200
What type of returns are not eligible for e-file
What are returns claiming the adoption credit; non-resident alien returns; amended returns; and returns filed after 15 Oct 2012 for 2011 return)
300
Installment agreement is automatic by submitting this form
What is Form 9465
300
Series of bonds that can be bought with a refund using Form 8888
What is series I US Savings Bonds
300
What percent of taxes must be withheld (including estimated payments) if prior year AGI is $150,000 ($75,000 MFS)
What is 110%
300
20% pf am imder[ayment due to negligence, disregard of the tax laws and regulations, or if the understatement is substantial
What are Accuracy Related Penalties
300
Declaration and signature document used when a tax return is e-filed.
What is Form 8879, IRS e-signature Authorization
400
Reasons for the IRS to legally authorized to comprise a tax liability
What are Doubt as to libaility Doubt as to collectability Effective tax administration
400
Types of problems that can offset a refund
What is prior years taxes not being paid Past-due child support prior years state incomes taxes not being paid Student loans that are in default
400
Estimated payments are made in these months
What is April 17, 2012 June 15, 2012 September 17, 2012 January 15, 2012
400
Understatement of tax is substantial if
What is more than the greater of 10% of the correct tax due or $5000
400
Form used to transmitt documents to the IRS (i.e, POA)
What is Form 8453 US Individual Income Tax Transmittal for an IRS e-file Return
500
Form used to make an offcer in comprise
What is from 656 Offer in Comprise
500
Form used to make sure a taxpayer's spouse is not personally liable for the taxpayers obligation
What is From 8379 "Injured Spouse Allocation"
500
Last payment is not due if the taxpayer files his/her 2012 tax return by
What is 13 January 13, 2013
500
Penalty for frivolous returns
What is $5000 (joint returns each spuse may be assessed a $5000 penalty)
500
rejected return notification should occur
What is within 24 hours
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