Tax Preparation Tax Forms and Procedures

Question 1

What is the standard due date for individual tax returns (Form 1040) for calendar-year taxpayers?

Accepted Answer

April 15

Answer

March 15

Answer

April 1

Answer

May 1

Question 2

Form 4868 grants an automatic extension to file Form 1040 for how many months?

Accepted Answer

6 months

Answer

3 months

Answer

4 months

Answer

12 months

Question 3

Which form is used to report the additional 10% early withdrawal penalty on retirement account distributions?

Accepted Answer

Form 5329

Answer

Form 1099-R

Answer

Schedule SE

Answer

Form 8606

Question 4

A taxpayer needs to correct an error on a previously filed Form 1040. Which form do they use?

Accepted Answer

Form 1040-X

Answer

Form 1040-SR

Answer

Form 1040-ES

Answer

Form 1040-EZ

Question 5

Which schedule reports capital gains and losses from the sale of investments?

Accepted Answer

Schedule D

Answer

Schedule A

Answer

Schedule B

Answer

Schedule E

Question 6

Form W-4 is completed by an employee to:

Accepted Answer

Claim withholding allowances and instruct the employer on withholding

Answer

Report wages to the IRS

Answer

Apply for an ITIN

Answer

Report tips to the employer