Mr Hepp, a Self-Employed Consultant, Failed to Include a $38,200

question 7

Multiple Choice

Mr. Hepp, a self-employed consultant, failed to include a $38,200 income item on his 2011 Form 1040, which he filed on March 9, 2012. The gross income reported on the return was $102,380. What is the latest date that the IRS can assess any additional 2011 tax?

• A) March 9, 2015
• B) April 15, 2015
• C) March 9, 2018
• D) April 15, 2018

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Definitions:

Magnification / Catastrophizing

The cognitive distortion that involves seeing a situation as far worse than it actually is, often leading to heightened anxiety or stress.

Hypomanic Episode

A period characterized by a persistently elevated, expansive, or irritable mood that is distinctly different from the individual’s usual non-depressed mood and lasts at least four days.

Depressive Episode

A period characterized by symptoms of major depression, such as depressive mood or loss of interest and pleasure in daily activities, lasting for at least two weeks.

Clinical Mood Disorder

A category of mental disorders characterized by a significant disturbance in a person’s mood, such as depression or bipolar disorder.