Tax Trivia
Tax Trivia Challenge
Test your knowledge of tax regulations and procedures with our engaging Tax Trivia Challenge. This quiz is designed to evaluate your understanding of essential tax concepts and practices.
Whether you're a professional in the field or just someone looking to learn more about taxes, this quiz covers:
- Handling civil levies
- Understanding FTIN and W8 forms
- Processing W9 requests
- Updating citizenship status
Who handles inquiries/removal of Civil Levies on accounts?
Back Office - Gov Reporting
Tax Phone Team - We can remove with a W9
Account Recovery & Resolution Team
Tax Phone Team - We can remove with an LOI or verbal confirm
An account which currently has an FTIN on file submitted a new W8 with Taiwan in line 2, 3, and 4 but line 6 is blank. You should do which of the following?
Reject for missing FTIN or Reasonable Explanation with previous FTIN on file
Accept and Update the FTIN field to NOT LEGALLY REQUIRED
Accept and remove previous FTIN
Reject for FTIN or Reasonable Explanation Required
When processing a W9, are we able to take an ITIN card in place of the SS Card?
Yes
No, we must have the SS Card
No, we must have both cards
I like turtles
How can a client update their citizenship status to a U.S. citizen?
Send a message through the SMC requesting the update
Send a signed LOI requesting the update
Send a copy of a US passport or Naturalization certificate
Send in a copy of their SS Card
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