A Taxpayer May Request an Automatic Seven-Month Extension of Time

question 115

True/False

A taxpayer may request an automatic seven-month extension of time to file his or her tax return.

Develop skills in framing messages to manage perceptions.

Know the components and structure of inductive and deductive message outlines.

Recognize the importance of providing logical and clear reasons in message refusals.

Analyze the ethical and legal considerations in delivering bad news.

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Definitions:

Mutual Fund

A type of investment vehicle consisting of a portfolio of stocks, bonds, or other securities, which is managed by an investment company with the capital pooled from many investors.

Rate of Total Return

A measure of the gain or loss on an investment over a specified period, including interest, capital gains, dividends, and distributions realized over the period.

Rental Income

Income received from leasing out property or other real estate assets.

Property Taxes

Taxes paid by property owners based on the assessed value of their real estate, usually levied by local governments.