Peyton Has Adjusted Gross Income of $20,000,000 on His 2014

question 95

Multiple Choice

Peyton has adjusted gross income of $20,000,000 on his 2014 tax return,filed April 15,2015.He accidentally failed to include $200,000 that he received for a television advertisement.How long does the IRS have to audit Peyton's federal tax return?

• A)until April 15,2017
• B)until April 15,2018
• C)until April 15,2021
• D)The IRS can audit Peyton's return at any future date.

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Definitions:

Line Spectra

Line spectra are the emission or absorption of light at specific wavelengths by atoms or molecules transitioning between energy levels, resulting in distinct lines characteristic of the substance.

Quantized Energy Levels

The concept in quantum mechanics that energy levels in atoms and molecules are discrete, not continuous.

Spectral Emissions

The set of wavelengths or frequencies emitted by a substance or object, often used to identify its composition.

Frequency

The number of occurrences of a repeating event per unit of time, often used in the context of waves.