Which of the following statements is true?
A. If income tax withholding is less than the calculated tax liability, there will be tax due with the return.
B. Compensation for services includes bonuses and severance pay.
C. Gross income is the "tax base" used to determine the amount of tax.
D. Taxpayers who use a Form 1040 are not required to report any interest income in excess of $1,500.
Answer: B
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