#1. Which of the following is not considered a qualified education expense for the American Opportunity Credit?
#2. An S corporation must file Form 1120-S by which date for a calendar-year taxpayer?
#3. A taxpayer received a state income tax refund of $800 for a year in which they itemized deductions. How much of the refund is taxable if their itemized deductions did not exceed the standard deduction?
#4. Which of the following fringe benefits is considered taxable to the employee?
#5. Which form must a taxpayer file to request an installment agreement?
#6. Which of the following is an example of passive activity income?
#7. For which situation is a tax preparer not required to obtain a written consent to use tax return information?
#8. Which of the following would result in the disallowance of the home office deduction?
#9. A corporation with over $500 million in assets must file which schedule with Form 1120?
#10. What is the penalty for willful failure to file a tax return?
#11. Which of the following is an example of passive activity income?
#12. A taxpayer has a passive loss of $10,000 and passive income of $4,000. How much of the loss can they deduct?
#13. An EA must renew their PTIN:
#14. Which of the following forms reports cancellation of debt?
#15. The term ‘substantial authority’ refers to:
#16. Which of the following taxpayers must use the accrual method of accounting?
#17. Which of the following documents grants power of attorney to an EA?
#18. If a taxpayer sells a personal vehicle for a gain, how is the gain treated?
#19. When must a taxpayer file a gift tax return?
#20. A preparer must retain a copy of a client’s return or a list of prepared returns for:
#21. Which of the following is a true statement about innocent spouse relief?
#22. An EA may represent a taxpayer before which entity?
#23. Which of the following items is not subject to self-employment tax?
#24. Which of these is not a component of the ‘due diligence’ requirements for the earned income credit?
#25. A depreciable asset placed in service in October is subject to which MACRS convention?
#26. Which of the following organizations qualifies for §501(c)(3) tax-exempt status?
#27. Which IRS function handles installment agreements and collections?
#28. Which of the following is not an acceptable method for substantiating business expenses?
#29. What is the maximum capital loss deduction for an individual against ordinary income?
#30. A taxpayer who receives a CP2000 notice must:
#31. What is the maximum penalty for failure to obtain proper client consent before using tax return info?
#32. An S corp shareholder’s basis is decreased by:
#33. The lookback period for trust fund recovery penalty (TFRP) typically includes:
#34. Which of the following may a taxpayer deduct as a business expense?
#35. A taxpayer owns a rental property and actively participates. Their AGI is $90,000. What is the max special allowance for passive losses?
#36. Which of the following is not considered earned income?
#37. A PTIN is issued by:
#38. The penalty for failure to furnish a copy of a return to a client is:
#39. A C corporation must make estimated tax payments if it expects to owe at least:
#40. An employee receives a W-2 with incorrect wages. What should they do first?
#41. A disregarded entity for federal tax purposes is:
#42. The preparer tax identification number (PTIN) must be:
#43. Which of the following items is considered community property in a community property state?
#44. What is the filing status of a taxpayer whose spouse died last year and who still has a dependent child?
#45. The IRS Office of Professional Responsibility (OPR) handles:
#46. A taxpayer wants to revoke a POA. They should file:
#47. Which of the following is not an accuracy-related penalty?
#48. The 100% meal deduction applies to:
#49. A preparer may disclose tax return information without consent in which case?
#50. The standard deduction for a dependent is limited to:
