Form 4868, a Six- Month Extension of Time to File

question 1065

Multiple Choice

Form 4868, a six- month extension of time to file, allows a taxpayer to

• A) avoid interest on underpayment of taxes due.
• B) extend the filing date of the return but the estimated amount of tax due must still be paid by the original due date of the return.
• C) extend the filing date only at the discretion of the IRS.
• D) extend the filing date of the return as well as payment of the tax due.

Understand the objectives and stages of meaningful use in healthcare information systems.

Differentiate between subjective and objective findings in a medical record.

Identify the advantages and applications of various filing systems in medical record keeping.

Grasp the importance of medication reconciliation in patient care transition.

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Definitions:

Disbursement Basis

An accounting method in which expenditures and revenues are recorded when cash is actually disbursed or received, rather than when they are incurred.

Accrual Basis

An accounting method where income and expenses are recorded when they are earned or incurred, regardless of when the cash transaction happens.

GAAP Constraint

Guidelines that restrict or limit certain accounting practices under Generally Accepted Accounting Principles, to ensure fairness, consistency, and accuracy in financial reporting.

Disbursement Basis

Accounting method where expenses are recorded when cash is paid out, rather than when incurred.