Answer the following statements true (T) or false (F)
1. A letter ruling is a written determination that interprets and applies the tax laws to the taxpayer's specific set of facts.
2. The "automatic" extension period for filing an individual return is seven months.
3. The maximum failure to file penalty is a total of 25% of the underpayment.
4. A taxpayer who fails to file and fails to pay taxes is subject to a combined 5% monthly penalty on the underpayment.
1. TRUE
2. FALSE
3. TRUE
4. TRUE
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Read the information about Cobb Company. What is Cobb's income from operations?
a. $ 1,600 b. $ 2,000 c. $ 2,200 d. $ 2,800
Syndicated data are data that are collected and made available to all subscribers in ________
A) standard format B) moderated format C) variable format D) specialized format E) contemporary format
Employee loyalty is not highly valued by employers
Indicate whether the statement is true or false
The hypocrisy of the open shop movement was that:
A. Employers wanted businesses to be open to all consumers but closed to unions. B. Employers painted collective action of workers as an infringement upon individual liberty while they themselves acted collectively to prevent unionization. C. Unions said they were there to represent all workers but actually they only represented those that belonged to the union. D. Courts were willing to issue injunctions against unions who went out on strike.