On July 1, Hernandez Files a Refund Claim with the IRS

question 16

Multiple Choice

On July 1, Hernandez files a refund claim with the IRS, and the IRS agrees with his computations. The IRS can avoid paying any interest to Hernandez if:

• A) The total tax involved does not exceed $5,000 (indexed for inflation).
• B) The IRS pays Hernandez the amount owed on August 10.
• C) Both a. and b.
• D) Neither a. nor b.

---

Definitions:

Interested

Refers to having a stake or concern in an outcome or matter due to potential personal gain, loss, or impact.

Disinherited

The act of deliberately removing or excluding a lawful beneficiary from receiving any part of an estate or inheritance in a will.

Codicil

A document that amends or adds to an existing will, allowing for changes without the need to draft a new will entirely.

Executed

Completed or carried out; in legal terms, it refers to a document or agreement that has been signed and made effective.