A Taxpayer Can Automatically Escape the Penalty for Underpayment of Taxes

question 85

Multiple Choice

A taxpayer can automatically escape the penalty for underpayment of taxes by

• A)owing less than $1,000 in taxes over and above the taxes withheld from wages.
• B)owing taxes in the previous year.
• C)having a casualty loss.
• D)none of the above

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Definitions:

Job Market

The availability of employment and labor, in terms of supply and demand.

Macro-structures

Large-scale patterns and systems in society that shape and organize social life, such as economic systems or governmental institutions.

International Organizations

Entities established by treaties between sovereign states to pursue common goals or facilitate political, economic, or social cooperation.

Social Structure

The organized pattern of social relationships and institutions that together compose society, determining how it functions.