End of Course Quiz
With the Course coming to a close, there is a final quiz for you to complete. This quiz will be different to the ones that came prior, in that there are 48 total questions.
We will ask you a series of questions that will be related to the information you have learnt in the Foundation Course.
This quiz will summarise the topics we have gone over in Course 1. To complete this quiz, you must get at least 75% correct.
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If you could please take a moment to fill in our questionnaire which covers your experience in taking this course, it would be incredibly helpful.
In what year did the United States pass the Revenue Act that that introduced the concept of tax withholding and information reporting on payments made to non-U.S. persons?CorrectIncorrect
What does the acronym TEFRA stand for?CorrectIncorrect
What does the acronym FATCA stand for?CorrectIncorrect
Generally, who should submit a Form W-8, certificate of non-U.S. status?CorrectIncorrect
Which of these responses is not a type of withholding that we have discussed in this course?CorrectIncorrect
What does U.S. Source Income mean?CorrectIncorrect
Which form would a U.S. employer use to report wages paid to its employees?CorrectIncorrect
What does the IRS do with all the Information Returns that it receives?CorrectIncorrect
Who might expect to receive an information return on Form 1099?CorrectIncorrect
Why is it important to be able to distinguish between U.S. and Non -U.S. persons?CorrectIncorrect
Which of the following is not a U.S. person?CorrectIncorrect
Which of the following best describes the term ‘withholding agent?’CorrectIncorrect
A beneficial owner is:CorrectIncorrect
What type of information does the term documentation generally relate to?CorrectIncorrect
Why do we use the Form W-9?CorrectIncorrect
Which of the following statements is true?CorrectIncorrect
With respect to payments, what does Fixed and Determinable mean?CorrectIncorrect
Which of the following statements is correct?CorrectIncorrect
There are many publications, which one of the following deals primarily with NRA withholding?CorrectIncorrect
How do you determine the source of Dividends?CorrectIncorrect
Which of the following is the most accurate definition of a U.S. corporation?CorrectIncorrect
A Disregarded Entity can best be described as:CorrectIncorrect
What are we referring to when we use the term payee?CorrectIncorrect
Which type of documentation could a U.S. person use to certify status to a payor?CorrectIncorrect
Which person would be considered a U.S. resident for U.S. tax purposes based on the Substantial Presence Test?CorrectIncorrect
Which of the following pieces of information would not be found on a Form W-9?CorrectIncorrect
Which of the following pieces of information would not be found on a Form W-8BEN?CorrectIncorrect
A non-U.S. individual requesting treaty benefits for payments of personal services income would provide which type of withholding certificate?CorrectIncorrect
When a payor or withholding agent does not have reliable documentation on file for an income recipient, what rules would it apply?CorrectIncorrect
When would backup withholding start?CorrectIncorrect
On what form would a payor report royalty income paid to a U.S. person?CorrectIncorrect
Which notice does the IRS send to alert a payor that it reported an incorrect name or taxpayer identification number on Form 1099?CorrectIncorrect
Publication 1281 provides guidance on backup withholding for missing or incorrect names/taxpayer identification numbers. What information can be found in this publication?CorrectIncorrect
What types of income are reportable on Form 1099?CorrectIncorrect
When is the Form 945 due?CorrectIncorrect
Which sections of the Internal Revenue Code relate to Chapter 3?CorrectIncorrect
Which sections of the Internal Revenue Code relate to Chapter 4?CorrectIncorrect
What is the default rate of withholding for payments of U.S. sourced income to non-U.S. persons under chapter 3?CorrectIncorrect
Is there a interconnection with Chapter 3 and Chapter 4?CorrectIncorrect
On what form(s) would a withholding agent report U.S. source interest and dividends paid to a non-U.S. person that are subject to withholding under Chapter 4?CorrectIncorrect
What does the acronym ECI stand for?CorrectIncorrect
In what context would we used the acronym LOB, which stands for limitation on benefits?CorrectIncorrect
How many days does a non-U.S. person have to notify a withholding agent of a change in circumstances?CorrectIncorrect
What does FDAP stand for?CorrectIncorrect
When is Chapter 3 withholding required?CorrectIncorrect
Who could receive a Form 1042-S?CorrectIncorrect
What generally determines when a deposit of Chapter 3 and 4 withholding is due?CorrectIncorrect
Which type of income is an amount subject to chapter 3 withholding, but not a chapter 4 withholdable amount?CorrectIncorrect