This two-hour CPE course explores the development and growth of electronic tax return filing (e-filing). This course covers the mandatory e-filing requirements and discusses the IRS e-file program and the IRS’s challenges in advancing e-filing in the future.
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Question 1
Correct
The IRS developed a strategic plan to promote electronic filing and to strive toward a goal of e-filing 80 percent of tax and information returns as a result of the:
Homeownership and Business Assistance Act of 2009
(You Answered) (Correct Answer) The IRS Restructuring and Reform Act of 1998
e-Postcard Act of 2010
Tax Reform Act of 1986
Question 2
Correct
Each of the following is a benefit of e-filing except:
(You Answered) (Correct Answer) Voluntary, rather than mandated, participation in the program for all taxpayers
Submission of increased information that can raise enforcement revenue
Lower cost of processing returns for the IRS
Faster processing and refunds for taxpayers.
Question 3
Correct
Which of the following is not a category of Authorized e-file Provider?
Transmitter
Software Developer
(You Answered) (Correct Answer) Modernized e-File System Provider
Reporting Agent
Question 4
Correct
Taxpayers who prepare their own returns use the _____ e-signature process for signing returns and the Declaration of Taxpayer.
Authorized tax return signer
(You Answered) (Correct Answer) Self-Select PIN method
Practitioner PIN method
Form 8453-C
Question 5
Correct
The Volunteer Income Tax Assistance (VITA) program is directed to help taxpayers who:
Need to file amended returns or file on a fiscal year basis
(You Answered) (Correct Answer) Are low- or moderate-income filers
Are filing returns for the first time
Need to file U.S. Nonresident Alien Income Tax Return
Question 6
Correct
Mandatory e-filing is not required for a:
Foreign corporation having assets of at least $10 million that files 300 returns
(You Answered) (Correct Answer) Corporation having assets of less than $10 million
Domestic corporation having assets of at least $10 million that files 250 returns
Exempt organizations with assets of at least $10 million that file 250 returns
Question 7
Correct
Certain exempt organizations may submit Form 990-N, the e-postcard, if the organizations have annual gross receipts of less than:
(You Answered) (Correct Answer) $50,000
$100,000
$250,000
$150,000
Question 8
Correct
A partnership must e-file Form 1065 or 1065 B, as well as Schedules K-1, if over the course of the partnership’s tax year, the partnership has more than:
50 partners
(You Answered) (Correct Answer) 100 partners
250 partners
75 partners
Question 9
Correct
A specified tax return preparer is subject to mandatory e-filing if he or she reasonably expects to file at least _____ individual returns for the 2011 calendar year and at least _____ individual returns in subsequent years.
50; 2
75; 5
(You Answered) (Correct Answer) 100; 11
85; 4
Question 10
Correct
The Electronic Tax Administration Advisory Committee (ETAAC) reported that one key to continued growth in individual e-filing is:
(You Answered) (Correct Answer) Mandated e-filing requirement for preparers of individual returns
Use of the AGI/PIN signature
Mandating taxpayers who prepare tax returns using a computers to e-file their returns
Use of the Form 8453-C signature method