Question: - Hector has been very busy with his construction work due to peak season and has not been able to collect all of the paperwork
- Hector has been very busy with his construction work due to peak season and has not been able to collect all of the paperwork for completing his taxes on time. What should Hector do?
Group of answer choices
. He can send his tax return late within 6-months and avoid interest but pay a penalty.
. He should call the IRS and make a case for extra time. The IRS may or may not grant him the extension upon review.
- Harold is divorced and not remarried. He lives with his children, for which he pays more than half of the support. Harolds filing status is
Group of answer choices
. married filing separately.
. single.
. divorced filing separately.
. head of household.
. He can apply by April 15 to see if he can get a 6-month extension by filing Form 4868.
. He can receive an automatic six-month extension to file his taxes by filing Form 4868 by April 15.
- You have taxable income of $60,000 (22% federal marginal tax bracket). If you combine your federal marginal tax with payroll tax and state income tax, your total marginal tax rate on additional earnings is 37.65%. You learn that your employer will give you a $5,000 bonus at the end of the year. How much of your bonus will you be able to spend? (Round to the nearest whole dollar.)
Group of answer choices
. $3,118
. $1,250
. $3,750
. $1,883
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