Steve Files His Return on April 1 and Pays the Entire

question 54

Multiple Choice

Steve files his return on April 1 and pays the entire amount of tax for the year at that time, $5,000. He is audited and pays the deficiency of $1,500 two years later. The maximum amount Steve may file a claim for refund for eighteen months later is

• A) $5,000.
• B) $1,500.
• C) $6,500.
• D) some other amount.

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Definitions:

Tetrapods

A superclass of animals characterized by four limbs (or the descent from such), including amphibians, reptiles, birds, and mammals.

Extant Species

Refers to species that are currently living and have not gone extinct.

Eusthenopteron

An extinct genus of lobe-finned fish, considered an important precursor to early tetrapods and amphibians.