Where a Client Has a Retention and Destruction Policy and the Duty

question 29

Multiple Choice

Where a client has a retention and destruction policy and the duty to preserve evidence has arisen,the attorney:

• A) must immediately review all documents in the client's possession.
• B) must instruct the client to cease destruction of documents.
• C) must verify the client has followed the instruction to cease destruction.
• D) both b and c

Recognize the implications of having multiple employers on FICA and FUTA taxes.

Understand the role and calculation of estimated tax payments for individuals with varying levels of adjusted gross income (AGI).

Know the penalty consequences for failing to meet tax deposit and reporting requirements.

Apply knowledge of payroll tax calculations in practical scenarios involving tips, bonuses, and commissions.

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Definitions:

Tax Return

A document filed with a tax authority that reports income, expenses, and other pertinent tax information. Taxes are paid or refunds are requested via a tax return.

Scholarship

Financial support awarded to a student, based on academic achievement or other criteria, which does not need to be repaid.

Educational Institution

This is any place of learning, such as a school, college, university, or technical institute, accredited to deliver education or training.

Graduate Assistantships

Graduate assistantships are paid academic positions that provide financial support to graduate students, often including a stipend and tuition remission in exchange for teaching, research, or administrative duties.