Individuals quiz 3

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University of Maryland *

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TAXATION

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Computer Science

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Jan 9, 2024

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3

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1 What is an ERO? A. An ERO is an IRS-approved banking official, bonded and fingerprinted within the last two years. B. An ERO is an IRS-approved provider that originates the submission of electronic returns.correct C. An ERO is an IRS-approved provider of continuing education for tax professionals. D. An ERO is an IRS-approved lender that can offer RALs to taxpayers. 2 Which of the following is not a category of e-file provider services? A. Electronic return originator (ERO). B. Third-party Provider.correct C. Software Developer. D. Intermediate Service Providers. 3 Savannah is a tax preparer and just recently became an ERO. Which of the following actions is one of her mandatory responsibilities under the IRS efile program? A. Making sure she is available to answer client questions about their e-filed returns outside of normal business hours. B. Only preparing returns for U.S. citizens and lawful permanent residents. C. Making sure that her office complies with the Americans with Disabilities Act. D. Retaining records and making records available to the IRS.correct 4 Gail is an enrolled agent and ERO. She files Frank's return electronically. The next day, Gail receives a notice that Frank's return was rejected. What must Gail do next? A. Gail must take reasonable steps to inform Frank within 24 hours of the rejection.correct B. Gail must inform Frank of the rejection immediately, on the same business day. C. Gail should re-attempt to file the return. D. Gail should mail a paper return on Frank's behalf. 5 Gregory is a tax preparer and an ERO. He charges a small fee of $5 for direct deposit. Is he in violation of IRS rules by doing this? A. Yes, he is in violation of the rules. Gregory cannot charge a fee for offering direct deposit.correct B. No, Gregory can charge a fee for offering direct deposit. C. No, Gregory can charge a fee for offering direct deposit, as long as the fee is less than $50 per return.
D. No, Gregory can charge a fee for offering direct deposit, including a contingent fee based on the refund amount. 6 If a taxpayer’s return is rejected by the IRS and the ERO cannot fix the problem and retransmit the return in the time prescribed, what should the ERO do next? A. The ERO must make reasonable attempts to notify the taxpayer of the reject within 48 hours. B. The ERO must make reasonable attempts to notify the taxpayer of the reject before the applicable filing deadline. C. The ERO must make reasonable attempts to notify the taxpayer of the reject by the next business day, excluding national holidays. D. The ERO must make reasonable attempts to notify the taxpayer of the reject within 24 hours.correct 7 Which of the following persons is an Authorized IRS e-file Provider that originates the electronic submission of a return to the IRS? A. Electronic Return Originator (ERO).correct B. Electronic Transmitter. C. Revenue Agent. D. Software Provider. 8 Which of the following statements regarding EROs (Electronic Return Originators) is INCORRECT? A. An ERO is an Authorized IRS e-file Provider who originates the electronic submission of a return to the IRS. B. An ERO may not charge a separate fee for taxpayers who select Direct Deposit. C. Once an ERO e-files a tax return, it cannot be retrieved or rescinded. D. An ERO may not charge a separate fee for clients who select RALs.correct 9 What is the Form 8879 used for? A. Form 8879 is a signature authorization for an e-filed return filed by an electronic return originator (ERO).correct B. Form 8879 is an electronic IRS e-file application for participation in IRS e-services. C. Form 8879 is a written waiver that the IRS may grant to relieve taxpayers from failure-to-file, failure-to-pay and failure-to-deposit penalties. D. Form 8879 is a tax preparer hardship waiver request. 10 When a client signs an efile authorization, which of the following electronic signatures are acceptable on Form 8879, IRS e-file Signature Authorization?
A. A handwritten signature input onto an electronic signature pad. B. A handwritten signature on a display screen by means of a stylus device. C. A digitized image of a handwritten signature that is attached to an electronic record. D. All of these signatures would be acceptable. correct
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