Don't Count Your Chickens Before They Are Hatched

question 38

Multiple Choice

Don't count your chickens before they are hatched. Don't change your horses in midstream. These two sentences are:

• A)Contradictory
• B)Neither similar nor contradictory
• C)Similar

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Definitions:

Enrolled Agents

Tax professionals licensed by the federal government to represent taxpayers in matters regarding the Internal Revenue Service (IRS).

Proportional Tax Rate

A tax system where the tax rate is constant regardless of the amount subject to tax.

Private Letter Rulings

Written decisions by the Internal Revenue Service (IRS) in response to taxpayers' requests for guidance on the tax implications of their specific transactions or events.

Wages

Compensation received by employees for services performed. Usually, wages are computed by multiplying an hourly pay rate by the number of hours worked.