American College HS330 Exam - Topic 1 Question 12 Discussion

Actual exam question for American College's HS330 exam

Question #: 12
Topic #: 1

All the following statements concerning filing the federal estate tax return are correct EXCEPT:

AFor persons dying this year, an estate tax return must be filed for gross estates plus adjusted taxable gifts that exceed $1.5 million.

BThe estate tax return must be filed within 9 months of death unless an extension is granted by the IRS.

CAn extension to file the estate tax return must be received and granted by the IRS before the time for filing the return expires.

DAn automatic one-year extension for filing the estate tax return is granted when the decedent dies overseas.

Show Suggested Answer

Suggested Answer: D

by Myra at May 05, 2022, 08:02 AM

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Kristeen

4 months ago

I thought extensions were just for personal taxes, not estates.

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Lorenza

4 months ago

B is correct, but I think C is a bit tricky.

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Lamar

4 months ago

Wait, an automatic extension for overseas deaths? That’s new to me!

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Kenneth

4 months ago

I agree, D is definitely misleading.

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Shawnda

5 months ago

The threshold for filing is actually $12.06 million for 2022.

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Rueben

5 months ago

This seems like a straightforward question. I think I'll go with CustomerRequirementSpecification since that aligns with the capitalization pattern in the question.

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Suzi

5 months ago

This seems like a classic "identify the type of value" question. I'll focus on understanding the meaning of each option and then match it to the 20.2 value in the table.

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Johnna

5 months ago

Ugh, I'm not too familiar with the A/R Statistical History Update program, so I'm a bit confused about which table it uses. I'll have to try to eliminate the options that don't seem relevant.

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