Identify Which of the Following Statements Is True

question 10

Multiple Choice

Identify which of the following statements is true.

• A)The failure-to-pay penalty is waived if the additional tax due with the filing of the extended return does not exceed 15% of the tax owed for the year.
• B)If both the failure-to-file and the failure-to-pay penalties are owed, the taxpayer will incur a maximum addition to tax of 5.5% per month.
• C)Individuals having substantial income from sources not subject to regular withholding generally should make quarterly estimated tax payments to the IRS.
• D)All of the above are false.

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Definitions:

Vocabulary

The set of words known and used by a person in a particular language.

Crystallized Intelligence

The ability to use learned knowledge and experience.

Large Vocabulary

The extensive set of words known and used by a person in speech and writing.

Cattell and Horn

Psychologists known for their influential work in the field of intelligence, particularly in developing the theory of fluid and crystallized intelligence.