Lydia and john wickham filed jointly in year 1. They divorced in year 2. Late in year 2, the irs discovered that the wickham's underpaid their year 1 taxes by $2,000. Both lydia and john worked in year 1 and received equal income but john had $2,000 less tax withheld than did lydia. Who is legally liable for the tax underpayment?

Answers

Answer 1

Answer:

Answer:

John because he paid more taxes and got less back from the irs so he would get the underpayment

Related Questions

Liquidity of savings refers to ____.a. availability of your funds on short notice b. earning potential of savings c. security or safety of funds on deposit d. tax-free accumulation of savings
Marcy owns a trucking company that hauls goods all over the country. Wilson contracts with Marcy's company to transport ten tractor-trailer loads of goods from Ohio to Texas. After delivery of the goods, Marcy learns that all the goods were stolen. The contract:_______.a. is unenforceable, because the goods were stolen and Marcy's company cannot collect its fee.b. is enforceable, because Marcy's company was justifiably ignorant of the fact that the goods were stolen.c. is unenforceable unless Marcy's company can return the goods.d. is unenforceable, and Marcy's company is now liable for the stolen goods.
Which of the following is not a valid FICO credit score?A. 475 B. 375 C. 275 D. 575
What is the opportunity cost in this scenario?A.)[Gretchen earned $500 from her summer job].| B.)[ She made a list of things that she wants to do with the money she earned.] She thought of spending $100 to buy a guitar amplifier, enrolling in a ballet class for $200, buying new clothes worth $100, and giving her mom a silver necklace worth $100. |C.)[When she went to buy the amplifier, she found it cost around $150.] She knew that she couldn’t change the fee for the dance classes. So she had to adjust the budget for her clothes or her mom’s gift.| D.)[In the end, she decided she would buy one pair of jeans instead of the two pairs of jeans she had planned.]
Which of the following is considered an organizational blueprint, which prescribes the quantity and time frame for when each end product will be assembled? WBS (Work Breakdown Structure) MRP (Material Requirements Plan) MPS (Master Production Schedule) ERP (Enterprise Resource Planning)

You are expected to do a presentation of your business plan to a group of potential investors. Explain how you would respond to questions in a non - aggressive and professional manner?

Answers

When presenting a business plan to a group of potential investors, you must expect questions to be thrown at you. You have to respond to those questions in a non-aggressive and professional manner. Here are some tips.

1. You have to listen and absorb each question.

2. Commend the person who asked the question by saying something like “Thanks. That’s a good question.”

3. Respond to the questions honestly and to the best of your ability. If you do not know the answer to the question, tell them that you will have to research more on it and will get back to them.

4. You have to also make sure that the potential investors understood your answer by clarifying, “Does that answer your question?”

Which action will help increase a low FICO score?A.) Reducing credit card balances.
B.) Holding payment on bills.
C.) Applying for credit more frequently.

Answers

A
Reducing credit card balance will help improve a FICO score.

I think the correct answer from the choices listed above is option A. The action that will help increase a low FICO score would be reducing credit card balances. Hope this answers the question. Have a nice day. Feel free to ask more questions.

What are the differences between creditor insurance and personally owned term insurance?

Answers

Explanation:

Businesses may choose to offer creditor insurance as a way to protect their customers' debt obligations in the event of death or disability. This type of insurance is typically offered by financial institutions and covers the outstanding balance of a loan or credit card. It can provide peace of mind for both the borrower and the lender, ensuring that the debt is paid off even if the borrower is unable to make payments.

On the other hand, personally owned term insurance is a type of life insurance that is purchased by an individual and provides coverage for a specified period of time (the term). Unlike creditor insurance, personally owned term insurance can be used to cover a variety of expenses, including mortgage payments, education expenses, and living expenses for dependents. The policyholder has more control over the coverage amount and beneficiaries, and the policy can be renewed or converted to a permanent policy at the end of the term.

Overall, creditor insurance and personally owned term insurance serve different purposes and may be appropriate for different individuals depending on their needs and financial situation.

Who is responsible for reporting identity fraud?Choose one answer.
a. The victim of fraud
b. The police
c. Any of the three credit reporting agencies
d. The company that accepted a stolen credit card or false information

Answers

The victim of the fraud.

Answer:

the victim of the fraudulent crime

Explanation:

person who it was stolen from

Economists use price indices to remove _______ from price measurements.a. costs
c. inflation
b. collateral
d. stagnation

Answers

The answer is C. Inflation

Price indices are a normalized average of price relatives for a given types of products ( either goods or services) in a specific region, during specific interval of time

It's provided a statistic that is designed to compare the prices while separating the inflation as a factor

1. All of the following factors contributed to explosive economic growth during the Gilded Age EXCEPT a. availability of capital for investment. b. a growing supply of labor. c. abundant natural resources. d. low tariffs. e. federal land grants to railroads.

Answers

Answer:

A. Availability of capital for investment.

Explanation:

It's the only answer that doesn't fit with the context, because the big industry was created after, it means that before Gilded Age, there isn't big industries and great investments.

After the explosive economic growth, principal companies donate big money to build hospitals, schools and social institutions for the people safety.

The growing supply of labor actually helped a lot. Back then, a lot of immigrants arrived the U.S., mainly from Europe. In addition to that, natural resources were an important part of this growth, water, steel and oil.

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An electronic funds transfers system ________. A. does not include debit card transactions B. transfers cash by electronic communication rather than by paper documents C. is seldom used by businesses D. uses forms such as checks and deposit tickets to transfer cash

Motorola continuously establishes performance standards and assesses actual performance by comparing it with these standards. Afterwards, Motorola often takes corrective action to reduce any discrepancies. This process is most likely outlined in the _____ section of Motorola’s marketing plan.a. evaluation and controlb. SWOT analysisc. marketing strategyd. goals and objectivese. marketing implementation

According to the text, firms encounter rising costs when they attempt to produce more in the same time period. As a consequence, they must be offered a higher price to be willing to incur these higher costs. The resulting relationship between price and quantity supplied isA. direct (or positive) and is called the law of demand.B. inverse (or negative) and is called the law of supply.C. direct (or positive) and is called the law of human nature.D. direct (or positive) and is called the law of supply.