When the IRS Issues a Notice of Tax Due, the Taxpayer

question 4

True/False

When the IRS issues a notice of tax due, the taxpayer has 90 days to either pay the tax or file a petition with the Tax Court. This is conveyed in the "ninety-day letter."

---

Definitions:

Investing Transactions

Financial activities related to the acquisition or sale of long-term assets and other investments.

Financing Transactions

Deals and agreements related to raising capital through the borrowing of funds or the issuance of stock in a company.

Ethnorelativistic

Pertaining to an attitude or viewpoint that recognizes and appreciates the value of cultural diversity, understanding that individual behaviors and values are culturally grounded.

Marginalized Groups

Communities or individuals pushed to the edge of society by having less power, money, or social standing, making them vulnerable to discrimination and neglect.