A Person Can't Be Relieved of Liability for a Tax

question 40

True/False

A person can't be relieved of liability for a tax deficiency under the innocent spouse rule unless that person was forced to sign the tax return under duress.

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Definitions:

Profit-oriented Business

A business entity that focuses primarily on generating profits or financial gains as its main objective.

Accounting

The systematic process of recording, measuring, and communicating financial information to help in making informed business decisions.

Total Liabilities

The aggregate of all debts and other legal obligations of an individual or company due to other entities.

Total Assets

The sum of all assets owned by a business, including current, fixed, and intangible assets, representing its overall value.