Question 1

The additional Medicare taxes assessed on high-income individuals carry differing tax rates depending on the tax base.

Accepted Answer

A) True 
 B)False

Question 2

Any unused general business credit must be carried back 1 year and then forward for 20 years.

Accepted Answer

A) True 
 B)False

Question 3

The maximum credit for child and dependent care expenses is $2,100 if only one spouse is employed and the other spouse is a full-time student.

Accepted Answer

A) True 
 B)False

Question 4

The components of the general business credit include all of the following except:

Accepted Answer

A)   Credit for employer-provided child care.
B)   Disabled access credit.
C)   Research activities credit.
D)   Tax credit for rehabilitation expenditures.
E)   All of the above are components of the general business credit.F) C) and D)
G) B) and C)

Exam 13: Tax Credits and Payment Procedures

The additional Medicare taxes assessed on high-income individuals carry differing tax rates depending on the tax base.

Correct Answer
verified

The components of the general business credit include all of the following except:

Correct Answer
verified

The maximum credit for child and dependent care expenses is $2,100 if only one spouse is employed and the other spouse is a full-time student.

Correct Answer
verified

Any unused general business credit must be carried back 1 year and then forward for 20 years.

Correct Answer
verified

Exam 13: Tax Credits and Payment Procedures

The additional Medicare taxes assessed on high-income individuals carry differing tax rates depending on the tax base.

Correct AnswerverifiedShow Answer

The components of the general business credit include all of the following except:

Correct AnswerverifiedShow Answer

The maximum credit for child and dependent care expenses is $2,100 if only one spouse is employed and the other spouse is a full-time student.

Correct AnswerverifiedShow Answer

Any unused general business credit must be carried back 1 year and then forward for 20 years.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified