Webinar Review: ACA and Fraudulent Webinars Part 2

1. To be considered a large employer, a business must employ, at a minimum, which of the following?

50 full-time employees

50 full-time equivalent employees

100 part-time employees

25 full-tie and 50 part-time employees

Answer B – 50 full-time equivalent employees

Explanation

Answer B – 50 full-time equivalent employees

2. To be considered a full-time employee you must work how much per week?

35 or more hours

25 or more hours

30 or more hours

32 or more hours

Answer C – 30 or more hours per week constitutes a full-time employee.

Explanation

Answer C – 30 or more hours per week constitutes a full-time employee.

3. A Revenue Officer seizes a business premises without the prior consent of the owner or a writ of entry issued by the Federal court. The Revenue Officer

May be guilty of reckless conduct for failing to follow proper procedures in seizing property

Is in compliance with the IRS 7433 and cannot be sued by the taxpayer

Can seize the personal property as well as assets of close family to satisfy the lien

Option 4

4. Insurance offered by the employer is deemed to be "unaffordable" by the employee if the cost of the coverage exceeds what percentage of the employee's household income?

9.5%

8%

10%

7.5%

Answer B – If the cost of the coverage exceeds 8% of the employee’s household income, the employee will be deemed to lack affordable coverage and will be exempt from the penalty for not having health insurance.

Explanation

Answer B – If the cost of the coverage exceeds 8% of the employee’s household income, the employee will be deemed to lack affordable coverage and will be exempt from the penalty for not having health insurance.

5. Fiduciary liability arises from the fiduciary's payment on behalf of an estate

On property that has been transferred without full and adequate consideration

For payments of debts that do not have priority over the debts to the United States

For property that has been distributed before notice of transferee liability has been received

Option 4

6. Generally there are three tests or elements of fraud in law which constitute a fraudulent conveyance if all three elements are present

The IRS is required to prove intent to defraud

Even if the transferee is the innocent recipient the IRS will prevail in the case

Option 4

Webinar Review: ACA and Fraudulent Webinars Part 2

1. To be considered a large employer, a business must employ, at a minimum, which of the following?

2.

What first name or nickname would you like us to use?

2. To be considered a full-time employee you must work how much per week?

3. A Revenue Officer seizes a business premises without the prior consent of the owner or a writ of entry issued by the Federal court. The Revenue Officer

4. Insurance offered by the employer is deemed to be "unaffordable" by the employee if the cost of the coverage exceeds what percentage of the employee's household income?

5. Fiduciary liability arises from the fiduciary's payment on behalf of an estate

6. Generally there are three tests or elements of fraud in law which constitute a fraudulent conveyance if all three elements are present