One of the Following Is Not One of the Desired

question 26

Multiple Choice

One of the following is not one of the desired characteristics of a statement obtained during a claim investigation:

• A) It should be written in ink or indelible pencil, or typed.
• B) It must be dated.
• C) It should be in short paragraphs with two spaces between each paragraph.
• D) It may be signed or unsigned.
• E) It must contain the identification of the person making it.

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Definitions:

Automatic Extension

An allowance by the IRS that gives taxpayers an additional period to file their tax returns without penalty.

Tax Return

A document filed with a tax authority that reports income, expenses, and other relevant financial information, used to calculate tax liability.

Marginal Tax Rate

The rate at which the last dollar of a taxpayer's income is taxed, indicating the rate of tax applied to their highest level of income.

Progressive Rate

A tax system in which the tax rate increases as the taxable income increases.