The IRS Will

question 3

Multiple Choice

The IRS will:

• A) Never release a person's tax return or information contained within it
• B) Only release a person's tax return in response to a proper request submitted in accordance with the Freedom of Information Act
• C) Generally not release a person's tax returns except for limited purposes, such as the determination of the employer of a person who has failed to pay child support
• D) Release a person's tax return, or information contained within it, to a federally chartered bank to whom a taxpayer has applied for a commercial loan

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Definitions:

Fraud in the Execution

refers to a deceitful practice where a person is tricked into signing a document not knowing it is a contract, significantly impacting their rights.

Standard Contract

A standard contract is a pre-drafted agreement using set terms and conditions, often used in routine business transactions where negotiation is minimal or not permitted.

Unilateral Mistake

A unilateral mistake occurs when only one party to a contract is mistaken about a basic assumption on which the contract is based.

Unilateral Mistake

A misunderstanding by one party in a contract that does not affect the other party's understanding, often not providing grounds for contract cancellation.