QUESTION 45
Employees of Wing & Prayer Airlines who fly to Madrid stand-by on otherwise empty seats have no taxable income for the value of the transportation.
True
False
QUESTION 46
Individuals may receive a 6-month automatic extension to file their tax return; that is, no explanation is required as long as the proper form is filed by the due date.
True
False
QUESTION 47
Quan operates an illegal game room in Houston. He files a tax return claiming deductions as follows: Rent $10,000, Supplies $5,000, Fines paid to the city $12,000, Bribes paid to police officers $8,000. The IRS should allow Quan to deduct
$0 |
||
$10,000 |
||
$15,000 |
||
$33,000 |
||
$35,000 |
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