Tax Preparer Responsibilities and Penalties, Exams of Advanced Education

Download Tax Preparer Responsibilities and Penalties and more Exams Advanced Education in PDF only on Docsity! Enrolled Agent Exam Part 3 Questions with correct Answers What Binformation Bdoes Ba Bpreparer Bneed Bto Bmaintain Bfor Beach Breturn Bdone? B- BCorrect BAnswers B-A Bpreparer Bmust Bmaintain Bthe Btaxpayer's Bname, Btax BID Bnumber, Btaxable Byear Bof Bthe Btaxpayer, Bname Bof Bthe Bpreparer, Band Bthe Btype Bof Breturn Bor Bclaim Bfor Brefund Bprepared. Can Byou Bprepare Btax Breturns Bwhen Byou Bare Bsuspended Bfrom BPractice Bbefore Bthe BIRS? B- BCorrect BAnswers B-Yes Bbecause Bpreparing Btax Breturns Bis Bnot Bconsidered B"practice Bbefore Bthe BIRS." What Bare Byou Brequired Bto Bdo Bevery Byear Bin Border Bto Bparticipate Bin Bthe BAnnual BFiling BSeason BProgram Band Bto Bget Ba BRecord Bof BCompletion Bcertificate? B- BCorrect BAnswers B-You Bmust: - BTake B18 Bhours Bof Bcontinuing Beducation Bfrom BIRS-Approved BCE BProviders Bincluding: Ba Bsix Bhour Bannual Bfederal Btax Brefresher Bcourse Bthat Bcovers Bfiling Bseason Bissues Band Btax Blaw Bupdates, Bas Bwell Bas Ba Bknowledge-based Bcomprehension Btest Badministered Bat Bthe Bend Bof Bthe Bcourse Bby Bthe BCE BProvider; BTen Bhours Bof Bother Bfederal Btax Blaw Btopics Band; BTwo Bhours Bof Bethics. - BHave Ban Bactive BPTIN. - BConsent Bto Badhere Bto Bspecific Bpractice Bobligations Boutlined Bin BSubpart BB Band Bsection B10.51 Bof BTreasury BDepartment BCircular BNo. B230. Who Bcan Brepresent Ban Bindividual Bin Bfront Bof Bthe BIRS Bwithout Ba Bpower Bof Battorney? B- BCorrect BAnswers B-Immediate Bfamily Bmembers B(spouse, Bchild, Bsibling Bor Bparent) Bcan Brepresent Ban Bindividual Bbut Bthey Bcannot Bsign Ba Bpower Bof Battorney Bto Bauthorize Bsomebody Belse Bto Brepresent Bthe Bindividual. By Bsigning Ba Bform B2848, Bthe Brepresentative Bdeclares Bunder Bpenalties Bof Bperjury Bthat Bhe Bor Bshe Bis Baware Bof Bwhat? B- BCorrect BAnswers B-The Bregulation Bin BTreasury BDepartment BCircular BNo. B230. When Bresearching Btax Blaw Bfor Bspecific Bsituations, Bwhat Bare Bconsidered Breliable Bsources Bof Binformation? B- BCorrect BAnswers B-- BThe BInternal BRevenue BCode - BThe BTreasury BRegulations - BRevenue BRulings - BRevenue BProcedures - BWritten BDeterminations - BAnnouncement Band BNotices - BCourt BRulings - BThe BCongressional BBill Bor BLaw - BCongressional BCommittee BReports When Bapplying Bfor Ban Binstallment Bagreement, Bwhen Bis Bform B433-F, BCollection BInformation BStatement, Brequired Bto Bbe Bfiled? B- BCorrect BAnswers B-The BCollection BInformation BStatement Bis Brequired Bto Bbe Bfiled Bwhen Byou Bowe Bless Bthat B$50,000. How Blong Bdoes Bthe BIRS Bhave Bto Brelease Bthe Blien Bafter Bthe Btaxpayer Bsatisfies Bthe Bamount Bof Btax Bdue? B- BCorrect BAnswers B-30 Bdays When Bis Bthe BIRS Bable Bto Bfile Ba Btax Blien? B- BCorrect BAnswers B-The Blien Bmay Bbe Bfiled Bwhen Bthe Btax Bis Bassessed Band Bthe Btax Bnot Bpaid Bwithin B10 Bdays Bof Breceiving Bthe Bbill. How Blong Bafter Bthe Bassessment Bof Btax Bcan Bthe BIRS Bcollect Boutstanding Btaxes? B- BCorrect BAnswers B-10 Byears What Binformation Bcan Ban Bauthorized Be-file Bprovider Bupdate Bwith Bthe BIRS Bby Bletter Binstead Bof Bonline? B- BCorrect BAnswers B-- BIf Bthe Be-file Bprovider Bis Bselling, Btransferring, Bor Botherwise Bdiscontinuing Bits Be-file Bbusiness. - BAll Bcontact Binformation - BContact Bpersons - BForm Btypes Bto Bbe Be-filed - BTransmission Bprotocols - BAdding Bfederal/state Be-file - BChanges Bto Bforeign Bfiler Binformation - BProvider Boptions What Bis BCNC B(currently Bnot Bcollectible) Bstatus? B- BCorrect BAnswers B-This Bis Ba Bvery Bspecial Barrangement Bwhere Bthe BIRS Bsuspends Ball Bcollections Bactivity. BYou Bcan Bget Bthis Bif Bthe BIRS Bdecides Bthat Bcollecting Bthe Btaxes Bowed Bwould Bcause Byou B"hardship" Bas Bit Bis Bdefined Bby Bthe BIRS. Circular B230 Brequires Bthe BIRS Bmake Bavailable Bto Bthe Bpublic Bcertain Brosters Bpertaining Bto Bpractice Bbefore Bthe BIRS. BWhat Bis Bincluded Bon Bthese Brosters? B- BCorrect BAnswers B-- BIndividuals Bor Bentities Bsanctioned Bfrom Bpractice Bbefore Bthe BIRS Bor Bupon Bwhom Ba Bmonetary Bpenalty Bwas Bimposed. - BEnrolled Bagents Band Benrolled Bretirement Bplan Bagents: Bincluding Bthose Bwho Bare Bactively Benrolled, Bin Binactive Bstatus Bfor Bfailure Bto Bmeet Brenewal Brequirements, Band Bin Bvoluntary Binactive Bretirement Bstatus, Band Bwho Bhave Bvoluntarily Bresigned Binstead Bof Bfacing Ba Bdisciplinary Bproceeding. - BRegistered Btax Breturn Bpreparers How Bmany Bhours Bof Bcontinuing Beducation Bmust Ban Benrolled Bagent Bcomplete Beach Benrollment Bcycle? B- BCorrect BAnswers B-You Bmust Bcomplete Ba Bminimum Bof B72 Bhours Bof Bcontinuing Beducation Beach Benrollment Bcycle B(3 Byears). BYou Bmust Bcomplete Ba Bminimum Bof B16 Beach Byear. Circular B230 Brequires Btax Breturn Bpreparers Bto Bexercise Bdue Bdiligence Bin Bwhat Bthree Bspecific Bsituations? B- BCorrect BAnswers B-A Bpreparer Bmust Bexercise Bdue Bdiligence Bas Bto Baccuracy Bin B(1)any Baction Binvolving Btax Breturns Bor Bany Bother Bdocument Brelated Bto BIRS Bmatters, B(2)oral Bor Bwritten Brepresentations Bmade Bto Bthe Bdepartment Bof Btreasury Bor Bthe BIRS, Band B(3)oral Bor Bwritten Brepresentation Bmade Bto Ba Bclient Bregarding Bany BIRS Bmatter. Can Bsomeone Bwith Ba Bpower Bof Battorney Bdelegate Bor Bsubstitute Bauthority Bto Banother Bindividual? B- BCorrect BAnswers B-Authority Bmay Bbe Bdelegated Bor Bsubstituted Bfor Bthe Btaxpayer Bby Bthe Bindividual Bwith Bthe Bpower Bof Battorney Bif Bthe Bpower Bto Bdelegate Bor Bsubstitute Bwas Bspecifically Bgranted Bin Bthe Boriginal Bpower Bof Battorney. BIf Bthe Bauthority Bis Bdelegated Bto Banother Bindividual Bthen Bboth Bthe Bold Band Bnew Bpower Bof Battorney Bholders Bhave Bauthority. BIf Bthe Bauthority Bis Bsubstituted Bthen Bonly Bthe Bnew Bpower Bof Battorney Bholder Bwill Bhave Bauthority. What Bis Bthe B"checkbox Bauthority" Bon Bform B1040? B- BCorrect BAnswers B-The B"checkbox Bauthority" Bon Bform B1040, Bif Bchecked, Bauthorizes Bthe BIRS Band Ba Bthird Bparty Bto Bshare Binformation Babout Bthe Breturn. BThe Bcheckbox Bauthority Bwill Bexpire Bafter Bone Byear. What Bis Ba B"specific Buse Bpower Bof Battorney?" B- BCorrect BAnswers B-A Bspecific Buse Bpower Bof Battorney Bis Ba Bone Btime Bor Bspecific-use Bgrant Bof Bauthority BOR Bis Ba Bpower Bof Battorney Bthat Bdoes Bnot Brelate Bto Bany Bspecific Btax Bperiod. Which Bacts Bqualify Bas Bspecific-issue Bgrants Bof Bauthority Bnot Brecorded Bin Bthe BIRS' BCAF Bdatabase? B- BCorrect BAnswers B-- BRequests Bfor Ba Bprivate Bletter Bruling Bor Btechnical Badvise - BRepresentation Bin Ba Bcircular B230 Bdisciplinary Binvestigation Band Bproceedings - BClaims Bfor Brefund Bor Babatement Bfiled Bon Bform B843 - BRequests Bto Bchange Baccounting Bmethods Bor Bperiods - BFreedom Bof Binformation Bacts Brequest For Bthe BIRS Bto Bseize Ba Bprinciple Bresidence Bthey Bmust Bget Bapproval Bfrom Bwho? B- BCorrect BAnswers B-They Bmust Bget Bapproval Bfrom Ba Bjudge Bor Bmagistrate Bdistrict Bcourt Bof Bthe BUnited BStates. How Bmuch Bis Bthe Bpreparer Bpenalty Bfor Bfailure Bto Bsign Ba Btax Breturn? B- BCorrect BAnswers B-$50 Bper Btax Breturn Bbut Bno Bmore Bthan B$26,000 Bper Byear. How Bmuch Bis Bthe Btaxpayer's Bpenalty Bfor Bfailure Bto Bsign Ba Btax Breturn? B- BCorrect BAnswers B-There Bis Bno Bpenalty Bfor Bthe Btaxpayer. BThe BIRS Bwill Bsimply Bsend Bthe Breturn Bback. How Bdoes Bthe BIRS Bdefine B"negligence" Bin Brespect Bto Berrors Bon Btax Breturns? B- BCorrect BAnswers B-The Bterm B"negligence" Bincludes Bany Bfailure Bto Bmake Ba Breasonable Battempt Bto Bcomply Bwith Bthe Blaw Bor Bto Bexercise Bordinary Band Breasonable Bcare Bin Bpreparing Ba Btax Breturn, Bas Bwell Bas Bfailure Bto Bkeep Badequate Bbooks Band Brecords Bor Bto Bsubstantiate Bitems Bproperly. Additionally, Bthe BIRS Bstates Bthat B"negligence" Bis Balso Bstrongly Bindicated Bwhere: - BA Btaxpayer Bfails Bto Binclude Bin Btheir Breturn Bincome Breported Bon Bforms BW2, B1099MISC, Betc. - BA Btaxpayer Bfails Bto Bmake Ba Breasonable Battempt Bto Bdetermine Bthe Bcorrectness Bof Ba Bdeduction, Bcredit, Bor Bexclusion Bon Ba Breturn Bthat Bseems B"too Bgood Bto Bbe Btrue." - BThe Breturn Bof Ba Bpartnership Bor BS Bcorporation Bshareholder Bis Binconsistent Bwith Bthe Bpartnership Bor BS Bcorporation's Breturn. What Bhappens Bwhen Bthe BIRS Bowes Byou Binterest Bon Ban Boverpayment BAND Byou Bowe Bthe BIRS Binterest Bon Ban Bunderpayment Bat Bthe Bsame Btime? B- BCorrect BAnswers B-This Bis Bcalled B"interest Bnetting." BInterest Bnetting Bmeans Bthe Brate Bof Binterest Bcharged Bon Bthe Bunderpayment, Bup Bto Bthe Bamount Bof Bthe Boverpayment, Bwill Bbe Bcomputed Busing Bthe Boverpayment Binterest Brate. What Bis B"seriously Bdelinquent Btax Bdebt?" B- BCorrect BAnswers B-Seriously Bdelinquent Btax Bdebt Bis Bdefined Bas: - BFederal Btax Bdebt Bof Bmore Bthan B$52,000 - BNotice Bof BFederal BTax BLien Bhas Bbeen Bfiled, Bwith Badministrative Bremedies Bagainst Bthis Bfiling Bexhausted Bor Bhave Blapsed BOR - BA Blevy Bhas Bbeen Bissued What Bis Ba B"Collection BDue BProcess" B(CDP)? B- BCorrect BAnswers B-A BCollection BDue BProcess Bcan Bbe Bfiled Bto Bappeal Ba Btax Blien Bor Blevy Bthe BIRS Bput Bon Byour Bassets. BThis Bappeal Bis Bmade Bin Bthe BU.S. Btax Bcourt Bor Bdistrict Bcourt. BCDP Bis Bavailable Bif Byou Breceive Bone Bof Bthe Bfollowing Bnotices: - BNotice Bof Bfederal Btax Blien Bfiling Band Byour Bright Bto Ba Bhearing - BFinal Bnotice B- Bnotice Bof Bintent Bto Blevy Band Bnotice Bof Byour Bright Bto Ba Bhearing - BNotice Bof Bjeopardy Blevy Band Bright Bto Bappeal - BNotice Bof Blevy Bon Byour Bstate Btax Brefund B- Bnotice Bof Byour Bright Bto Ba Bhearing - BPost Blevy Bcollection Bdue Bprocess Bnotice How Bdoes Ban Benrolled Bpreparer Bapply Bfor Ban BEFIN B(electronic Bfiling Bidentification Bnumber)? B- BCorrect BAnswers B-1. BCreate Ban BIRS Be-services Baccount 2. BSubmit Byour Bapplication Bto Bbecome Ban Bauthorized BIRS Be-services Bprovider 3. BPass Ba Bsuitability Bcheck Be Bprepared Bto Bwait Bup Bto B45 Bdays Bfor Bapproval What Bis Ba Bministerial Bact? B- BCorrect BAnswers B-A Bministerial Bact Bis Ba Bprocedural Bor Bmechanical Bact, Bnot Binvolving Bthe Bexercise Bof Bjudgment Bor Bdiscretion, Bduring Bthe Bprocessing Bof Ba Bcase Bafter Ball Bprerequisites Bhave Btaken Bplace. How Bdo Byou Bappeal Bthe Bdecision Bof Ban Badministrative Blaw Bjudge? B- BCorrect BAnswers B-File Ban Bappeal Bto Bthe Bsecretary Bof Btreasury Bor Bdelegate Bdeciding Bappeals Bwithin B30 Bdays Bof Bthe Bdecision. BWith Bthe Bnotice Bof Bappeal, Bthe Bappealing Bparty Bmust Binclude Ba Bbrief Bthat Bstates Bexceptions Bto Bthe Bdecision Bof Bthe BAdministrative BLaw BJudge Band Bsupporting Breasons Bfor Bsuch Bexceptions; Ba Bcopy Bmust Bbe Bserved Bon Bthe Bopposing Bparty. BThe Bsecretary Bof Bthe Btreasury Bor Bdelegate Bwill Bmake Ba Bdecision Bwithin B180 Bdays Bof Bthe Bappeal. Can Ba Bpractitioner Boffer Ba Bconsent Bto Bthe BIRS Bto Bbe Bvoluntarily Bsanctioned Bin Blieu Bof Ba Bproceeding Bbeing Binstituted Bor Bcontinued? B- BCorrect BAnswers B-Yes. BThe BIRS Bmay Baccept Bor Bdecline Bthe Boffer. BIf Bthe BIRS Bdeclines, Bit Bmay Bmake Ba Bcounteroffer Bcontaining Bdifferent Bterms. How Blong Bbefore Bfiling Ba Bnotice Bof Blien Bwith Blocal Bor Bstate Bauthorities Bmust Bthe BIRS Bnotify Bthe Btaxpayer? B- BCorrect BAnswers B-The BIRS Bmust Bnotify Bthe Btaxpayer B5 Bdays Bbefore Bplacing Bthe Blien. How Blong Bafter Bbeing Bnotified Bof Ba Blien Bdoes Bthe Btaxpayer Bhave Bto Brequest Ba Bdue Bprocess Bhearing Bwith Bappeals? B- BCorrect BAnswers B-30 Bdays How Blong Bafter Breceiving Ba Bbill Bfrom Bthe BIRS Bdo Byou Bneed Bto Bpay Bthe Bfull Bamount Bdue Bin Border Bto Bstop Binterest Bfrom Baccruing? B- BCorrect BAnswers B-If Bthe Bamount Bdue Bis Bless Bthan B$100,000 Byou Bhave B21 Bdays Bto Bstop Bthe Binterest. BYou Bhave Bto Bpay Bin B10 Bdays Bif Bthe Bamount Bis Bover B$100,000. Who Bconducts Bproceedings Bon Bcomplaints Bfor Bthe Bsanction Bof Ba Bpractitioner? B- BCorrect BAnswers B-An BAdministrative BLaw BJudge How Bdoes Bthe Bpreparer Bpenalty Bfor Bunderstatement Bof Btax Bwork? B- BCorrect BAnswers B-Before Bassessing Bthe Bpenalty: - BThe BIRS Bwill Bsend Bthe Bpreparer Ban Bexamination Breport Bexplaining Bwhy Bthey Bare Bproposing Ba Bpreparer Bpenalty - BThe BIRS Bwill Bsend Ba B30-day Bletter Bto Bthe Bpreparer Boffering Bhis/her Bthe Bopportunity Bto Brequest Bfurther Badministrative Bconsideration Bof Bthe Bpenalty Bas Bwell Bas Ba Bfinal Badministrative Bdetermination - BThe Bpreparer Bcan Bthen Bsend Ba Bletter Bto Bthe BIRS Brequesting Bappeals Bconsideration - BIf Bthe Btaxpayer Btimely Bappeals, Bthe BIRS Bwill Bnot Bassess Bthe Bpenalty Buntil Bit Bmakes Ba Bfinal Badministrative Bdecision After Bassessing Bthe Bpenalty: To Bfile Ban Bappeal, Byou Bmust Bbelieve Bthe: - BIRS Bmade Ban Bincorrect Bdecision Bbased Bon Binterpretation Bof Bthe Blaw - BIRS Bdidn't Bproperly Bapply Bthe Blaw Bdue Bto Bmisunderstanding Bof Bthe Bfacts - BIRS Bis Btaking Binappropriate Bcollection Baction Bagainst Byou Bor Byour Boffer-in- compromise Bwas Bdenied Band Byou Bdisagree Bwith Bthe Bdecision. According Bto Bcircular B230, Bwhat Bare B"best Bpractices" Bfor Btax Badvisers? B- BCorrect BAnswers B-- BCommunicating Bclearly Bwith Bthe Bclient Bregarding Bthe Bterms Bof Bthe Bengagement - BEstablishing Bthe Bfacts, Bdetermining Bwhich Bfacts Bare Brelevant, Bevaluating Bthe Breasonableness Bof Ban Bassumption Bor Brepresentations, Brelating Bthe Bapplicable Blaw Bto Bthe Brelevant Bfacts, Band Barriving Bat Ba Bconclusion Bsupported Bby Bthe Blaw Band Bthe Bfacts. - BAdvising Bthe Bclient Bregarding Bthe Bimport B(impact) Bof Bany Bconclusions Breached - BActing Bfairly Band Bwith Bintegrity Bin Bpractice Bbefore Bthe BIRS What Bare Bcontingent Bfees? B- BCorrect BAnswers B-Contingent Bfees Bare Bfees Bthat Bare Breliant Bon Bthe Boutcome Bof Bthe Bservice. What Bpenalties Bcan Bbe Bimposed Bupon Bsomeone Bemployed Bas Ba Btax Bpreparer Bby Ba Btax Bpreparation Bfirm? B- BCorrect BAnswers B-There Bis Bno Bpenalty Bthat Bcan Bbe Bimposed Bon Ban Bemployee Bof Ba Btax Bpreparation Bfirm. BThe Bemployer Bis Bsubject Bto Bthe Bpenalties. What Bis Bform B843, Bclaim Bfor Brefund Bor Babatement, Bused Bfor? B- BCorrect BAnswers B-Form B843, Bclaim Bfor Brefund Bor Babatement, Bis Bgenerally Bused Bto Bfile Bclaims Bfor Brefund Bor Babatement Bof Binterest, Bpenalties, Band Badditions Bto Btax. If Ba Btaxpayer Bdoesn't Bagree Bwith Bthe Boutcome Bof Btheir Bcase, Bthey Bmay Brequest Ban Bappeals Bconference Bwith Bthe Boffice Bof Bappeals. BIn Bwhat Bcircumstances Bis Ba Bformal Bwritten Bprotest Brequired Bto Brequest Ban Bappeal? B- BCorrect BAnswers B-- BIf Bthe Btotal Bamount Bof Btax Bfor Bany Bperiod Bis Bmore Bthan B$25,000 - BIn Ball BPartnership Bor BS BCorporation Bcases - BIn Ball Bemployee Bplan Band Bexempt Borganization Bcases - BIn Ball Bother Bcases, Bunless Bthe Btaxpayer Bqualifies Bfor Bother Bspecial Bappeal Bprocedures How Bdo Byou Bfile Ban Bappeal Bafter Ban BAdministrative BLaw BJudge Bmakes Ba Bdecision Bon Ba Bcomplaint Bfiled Bagainst Ba Bpractitioner? B- BCorrect BAnswers B-You Bmust Bfile Ba Bnotice Bof Bappeal Bwith Bthe Bsecretary Bof Btreasury Bwithin B30 Bdays Bafter Bthe BALJ Bmakes Bhis Bdecision. BWith Bthe Bappeal, Byou Bmust Bsubmit Ba Bbrief Bthat Bcontains Bexceptions Bof Bthe Bdecision Band Bsupporting Breasons Bfor Bsuch Bexceptions. BThis Bmust Bbe Bsent Bto Bthe Bopposing Bparty Bas Bwell. BThe Bopposing Bparty Bmay Bthen Bfile Ba Bbrief Bresponse Bwithin B30 Bdays Bof Bthe Bappeal Bnotice. What Bis Bthe Bpenalty Bfor B"substantial Bunderstatement Bof Bincome Btax?" B- BCorrect BAnswers B-The Bpenalty Bis Bthe Bgreater Bof B10% Bof Bthe Btotal Btax Bor B$5,000. How Blong Bmust Ba Bpractitioner Bkeep Brecords Bof Btheir Bcompleted BCPE Bcredits? B- BCorrect BAnswers B-4 Byears If Ba Btax Breturn Bpreparer Bknows Bor Breasonably Bshould Bhave Bknown Bthat Bthe Btax Bliability Bon Ba Breturn Bhe/she Bprepared Bis Ban Bunderstatement Bdue Bto Ban Bunreasonable Bposition, Bwhat Bpenalty Bcan Bbe Bimposed Bupon Bhim/her. B- BCorrect BAnswers B-The Bgreater Bof B$1,000 Bor B50% Bof Bthe Bfee Bthe Bpreparer Bcharged Bfor Bthe Breturn. What Bis Bconsidered Bsubstantial Bunderstatement Bof Bincome Btax? B- BCorrect BAnswers B-An Bunderstatement Bof Bincome Btax Bbecomes Bsubstantial Bif Bit Bexceeds Bthe Bgreater Bof B$5,000 Bor B10% Bof Bthe Btotal Btax Bliability. B For Bpeople Bclaiming Bthe Bqualified Bbusiness Bincome Bdeduction, Bit Bmust Bexceed Bthe Bgreater Bof B$5,000 Bor B5% Bof Bthe Btotal Btax Bliability. For Bcorporations Bthat Baren't BS Bcorporations Bor Bpersonal Bholding Bcompanies, Bit Bmust Bexceed Bthe Blesser Bof B$10 Bmillion Bor B10% Bof Bthe Btotal Btax Bliability B(at Bleast B$10,000). What Bthree Brequirements Bmust Bbe Bmet Bto Bget Bunpaid Bincome Btaxes Bdischarged Bdue Bto Bindividual Bbankruptcy Bfiling? B- BCorrect BAnswers B-The Bincome Btaxes Bwill Bbe Bdischarged Bif Bthey Bfollow Bthe B"3-2-240" Brule. - BThe Btaxes Bare Bfrom Ba Breturn Bwhich Bwas Bdue Bat Bleast Bthree Byears Bbefore Bthe Bbankruptcy Bfiling, Band - BThis Breturn Bwas Bactually Bfiled Bat Bleast Btwo Byears Bbefore Bthe Bbankruptcy Bfiling Bdate, Band - BThe BIRS Bassessed Bthe Btaxes Bat Bleast B240 Bdays Bbefore Bthe Bbankruptcy Bfiling Bdate. When Bcan Byou Bapply Bfor Ban Binstallment Bagreement Bonline? B- BCorrect BAnswers B- You Bcan Bapply Bfor Ban Binstallment Bagreement Bonline Bif Byour Btotal Bamount Bdue Bis Bless Bthan B$50,000. BYou Balso Bdon't Bneed Bto Bfile Bthe BCollection BInformation BStatement Bif Byour Bbill Bis Bless Bthan B$50,000. What Bis Bthe BCentralized BAuthorization BFile B(CAF) Bsystem? B- BCorrect BAnswers B- This Bis Ba Bdatabase Bthat Bthe BIRS Buses Bto Bkeep Brecords Bof Bany Bauthorizations B(2848, Bor Btax Binformation Bauthorizations) Bon Bfile. BThis Ballows BIRS Bagents Bto Bquickly Bretrieve Bauthorization Binformation Bwithout Bhaving Bto Brequest Ba Bcopy Bof Bthe Boriginal B2848 Bor8821. Can Byou Btake Ba Bcase Bto Bthe Btax Bcourt Bbefore Byou Breceive Bthe B"90 Bday Bletter?" B- BCorrect BAnswers B-No What Bis BInternal BRevenue BCode B6701? B- BCorrect BAnswers B-Penalties Bfor Baiding Band Babetting Bunderstatement Bof Btax Bliability. Anyone Bcan Bbe Bcharged Bwith Bthis Bpenalty Beven Bif Bthey Bdidn't Bprepare Bor Bassist Bin Bpreparing Bthe Breturn. BYou Bcan Bbe Bcharged Bwith Bthis Bpenalty Bif Byou Bassisted Bsomeone Bin Bunderstating Btheir Btax Bliability. BThe Bpenalty Bis B$1,000 Bfor Beach Btax Bdocument Bcontributing Bto Bthe Bunderstatement B($10,000 Bfor Bcorporations). What Bare Bthe Bfour Bcategories Brelief Bfrom Bpenalties Bgenerally Bfalls Binto? B- BCorrect BAnswers B-- BCorrection Bof Ban BIRS Berror - BStatutory Band Bregulatory Bexceptions - BAdministrative Bwaivers - BReasonable Bcause