Fred Has Been Completing His Own Tax Returns for Years

question 28

Multiple Choice

Fred has been completing his own tax returns for years. The IRS has recently contacted him with questions about some of his prior returns. How many years back is he responsible for providing documentation?

• A) Until he files his returns.
• B) 3 years.
• C) 6 years.
• D) 10 years.
• E) 15 years.

---

Definitions:

Earmarks

Narrow, specially designated spending authorizations placed in broad legislation by senators and representatives for the purpose of providing benefits to firms and organizations within their constituencies. Earmarked projects are exempt from competitive bidding and normal evaluation procedures.

Authorized Expenditures

Expenditures that are officially approved or sanctioned by an authoritative body or individual, often within an organizational or governmental context.

Narrow Specifically

Focusing or specializing in a very specific or narrow area or topic.

Earmarks

Provisions within legislation that allocate funds for specific projects, often without proper review or competition.