Answers will be posted in responses section in about 1 week.

This is for my own review and organization of class notes for a tax course I am taking right now.

1 What types of income are subject to mandatory federal income tax withholding?

2 What types of income may be subject to voluntary withholding?

3 What form does an employee use to tell his employer how much tax to withhold from his wages?

4 What is the difference between a witholding allowance and an exemption?

5 If the employee wishes to have additional tax withheld, how may he adjust his W-4?

6 What additional is option is available for married employees?

7 Under what circumstances may an employee claim exemption from withholding?

8 What is the purpose of estimated tax rules?

9 Taxpayers with taxable income from which there is no withholding usually must pay an estimated tax. What are examples of this type of income?

10 Under what circumstances is a taxpayer generally required to pay estimated tax for 2008?

11 A single self employed taxpayer estimates that his 2008 tax will be $7500. Hos 2007 tax was $7000. How much must he pre-pay in 2008 to avoid an underpayment penalty?

12 Describe the exception to the 100% rule for higher income taxpayers.

13 Another single self employed taxpayer estimates that his 2008 tax will be $63,000. His 2007 AGI was $160,000, and his tax was $51,000. How much must he pre-pay for 2008 to avoid an underpayment penalty?

14 On what dates are estimated payments normally required to me made?

15 If a taxpayer is unsure of how much income he will have next year, or if he wishes to pay as little estimated tax as possible and still be sure to avoid penalty, what option is available to him?

16 What are indications that estimated tax payments may be required?

17 What is the purpose of form 2210?

18 Who will complete part 1 of the form?

19 Who may use Part III, the short method, for determining the penalty?

20 Who should use part IV on the third page of the form?

21 Why would you prepare a form 1040X

22 Is there a time limit for filing amended returns?

23 A taxpayer wishes to amend his 2005 tax return. He filed it April 16, 2006. The return was examined by the IRS on January 9, 2008 and $280 additional tax was paid on that date. What is the latest date an amended return may be filed?

24 What are the rules for changing filing status after the due date of the return?

25 For what reasons other than filing status could a return be amended?