Question: Please match the terms with their explanation. It is recommended that you refer to Chapter 1 in the textbook as you complete this. If you

Please match the terms with their explanation. It is recommended that you refer to Chapter 1 in the textbook as you complete this. If you aren't happy with your score, you can redo the question, because you have unlimited attempts.

Question 1 options:

in 2019, is $12,200 for single taxpayers and $24,400 for married filing jointly taxpayers

most common example is the Social Security tax

written proactively by IRS when it wants to illustrate how something should be reported

the major sources of gross income for most taxpayers

IRSs direct interpretation of the Internal Revenue Code

IRS reaction to an area of tax law that is confusing to many taxpayers or has substantive tax implications for numerous taxpayers

Single, Married Filing Separately, Married Filing Jointly, Head of Household and Qualifying Widow(er)

tax law written by Congress that covers taxation of individuals, corporations, and partnerships

where Additional Income and Adjustments to Income are shown

must register with the IRS and obtain a preparer tax identification number

most often earned by individuals in conjunction with savings accounts, certificates of deposit, U.S. savings bonds, corporate bonds, and seller-financed mortgages

also known as a flat tax

provides statutory authority for the administration and enforcement of income taxes

contains rules for any person who receives compensation to prepare a tax return or provide tax advice

hears most litigated disputes between the IRS and taxpayers

is taxable and reported to recipients on Form 1099-G

tax rate increases as tax base increases

requires individuals to make a shared responsibility payment if the individual doesnt have health care coverage or qualify for a health care coverage exemption

1.

16th amendment

2.

Internal Revenue Code

3.

Progressive rate structure

4.

Proportional rate structure

5.

Regressive rate structure

6.

Filing Status

7.

Wages, Salaries and Tips

8.

Interest income

9.

Schedule 1

10.

Unemployment compensation

11.

Standard Deduction

12.

Affordable Care Act

13.

Treasury Regulations

14.

Revenue Rulings

15.

Revenue Procedures

16.

U.S. Tax Court

17.

Circular 230

18.

Paid preparer

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