November 18th, 2024

State of Mind

100

I lived half the time in one state, half the time in another, which makes me this

Part-Year Resident

200

8958 allocates income between spouses if you live in one of these 

Community Property State

300

Taxpayers will only pay taxes where they live, not the state where they work, if the two states have this

Reciprocity 

400

A soldier who lives in Texas and moves to Ohio for active duty is a tax resident of this state

Texas

500

Having business activity within a state's jurisdiction creates this

State Tax Nexus 

He-SED, She-SED

100

The end of a period that the IRS can Assess a Tax Debt is called this

ASED

200

The end of the time period a Taxpayer can claim a refund is called this 

RSED

300

ASED's are extended to six years if a tax return excludes this percent of total AGI

25% or more

400

A failed examination that results in additional taxes will reset this expiration date

CSED

500

The ASED for a fraudulent return

Indefinite / unlimited / no ASED

They're A Loss Cause

100

Casualty and Theft Losses were regulated in 2018 due to this Tax Act

Tax Cut and Jobs Act

200

Casualty and Theft Losses are generally limited to ones that occur from these events

Federally Declared Disasters

300

Theft losses that occur from investment scams are said to be due to these

Ponzi-Type Schemes 

400

Your claimable loss may be reduced by Salvage Value or this

Insurance Payments / Reimbursements 

500

A scam where scammers inflate the price of a security to lure investors, then quickly sell all of their shares is called this type of scam

Pump and Dump Scam

It's Not Personal, Just Business

100

This financial statement is used to get Schedule Lon an S Corp 

Balance Sheet

200

This form is used to get an EIN or elect a business structure 

SS-4

300

This Form is used to make an S Corp Election

2553

400

To be a corporation most states require you to file this form

Articles of Incorporation

500

An S Corp Election can be Back-Dated if it was to be made no more than this amount of time

3 years and 75 days