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Free U.S. Internal Revenue Service (IRS) Tax Compliance Officer Exam Exam Questions and Answers
Last updated: March 29, 2025
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U.S. Internal Revenue Service
(IRS) Tax Compliance Officer Exam
#Question
What is the tax treatment of a 1031 exchange?
A.
Tax-deferred
B.
Fully taxable
C.
Non-taxable
D.
Tax-deductible
Correct Answer:
A
A 1031 exchange allows for tax-deferred treatment of capital gains when similar properties are exchanged.
#Question
When are taxpayers required to file Form 4868?
A.
By March 15
B.
By April 15
C.
By October 15
D.
By June 15
Correct Answer:
B
Taxpayers must file Form 4868 to request an extension by April 15.
#Question
What is the maximum contribution limit for a Health Savings Account (HSA) for individuals in 2023?
A.
$7,750
B.
$7,300
C.
$3,850
D.
$3,650
Correct Answer:
A
The maximum contribution limit for family coverage in an HSA is $7,750 for 2023.
#Question
Which IRS form is used to report gambling winnings?
A.
Form 1099-MISC
B.
Form 1040
C.
Form W-2G
D.
Form 1065
Correct Answer:
C
Form W-2G is used to report gambling winnings to the IRS.
#Question
What is the effect of claiming the standard deduction on taxable income?
A.
Only affects tax credits
B.
Decreases it
C.
Increases it
D.
No effect
Correct Answer:
B
Claiming the standard deduction decreases a taxpayer's taxable income.
#Question
Which of the following qualifies as a hardship withdrawal from a 401(k)?
A.
Home renovations
B.
Medical expenses
C.
Vacation expenses
D.
Purchasing a car
Correct Answer:
B
Hardship withdrawals from a 401(k) can be made for medical expenses if they are necessary.
#Question
What is the threshold for filing a tax return for single taxpayers under age 65 in 2023?
A.
$13,850
B.
$14,050
C.
$15,000
D.
$12,400
Correct Answer:
D
Single taxpayers under age 65 must file a tax return if their gross income is at least $12,400 in 2023.
U.S. Internal Revenue Service (IRS) Tax Compliance Officer Exam
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Q2: Why should I take US Federal Exams?
A: US Federal Exams are essential for securing federal government jobs, which offer job stability, competitive pay, comprehensive benefits, career advancement opportunities, and the chance to serve the nation.
Q3: What are the benefits of US Federal Jobs?
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A: Common US Federal Exams include:
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A: Preparation can include:
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A: Federal exams are often conducted online or at designated testing centers. Specific details about the exam location and mode are usually provided in the job announcement.
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