Which, if any, of the characteristics listed below, do not correctly reflect the
ID: 2432210 • Letter: W
Question
Which, if any, of the characteristics listed below, do not correctly reflect the concept of tax home:
The taxpayer need not be away from home for a 24-hour period to meet the "overnight" test.
The tax home will change if a temporary assignment elsewhere exceeds one year.
It is possible for some taxpayers never to be away from their tax home (i.e., the tax home follows them).
The tax home is the area where the taxpayer derives the principal source of income.
All of the above are correct.
a.The taxpayer need not be away from home for a 24-hour period to meet the "overnight" test.
b.The tax home will change if a temporary assignment elsewhere exceeds one year.
c.It is possible for some taxpayers never to be away from their tax home (i.e., the tax home follows them).
d.The tax home is the area where the taxpayer derives the principal source of income.
e.All of the above are correct.
Explanation / Answer
E. All of the above are correct.
as all other options are given are correct and required for the concept of tax home.
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