Question 1

How is the tax law affected by Federal criminal statutes?

Accepted Answer

A series of criminal penalties are asses...

Question 2

Certain individuals are more likely than others to have the Form 1040 audited by the IRS.List at least five factors that may increase above the national norms one's chances of audit.

Accepted Answer

These circumstances ...

Question 3

In preparing a tax return,a CPA should verify "to the penny" every item of information submitted by a client.

Accepted Answer

A) True 
 B)False

Question 4

IRS computers use document matching programs for both individuals and business taxpayers to keep the audit rate low.

Accepted Answer

A) True 
 B)False

Question 5

When a practitioner discovers an error in a client's prior return,AICPA tax ethics rules require that an amended return immediately be filed.

Accepted Answer

A) True 
 B)False

Question 6

Henrietta has hired Gracie,a CPA,to complete this year's Form 1040.Henrietta uses software to keep the books for her business.She tells Gracie that a $5,000 amount for business supplies is "close enough" to constitute the deduction.Gracie can use this estimate in completing the Form 1040.

Accepted Answer

A) True 
 B)False

Question 7

During an audit,the IRS might require that the taxpayer produce the ____________________ that underlie the tax return data.

Accepted Answer

The answer of During an audit,the IRS might require that...

Exam 26: Tax Practice and Ethics

In preparing a tax return,a CPA should verify "to the penny" every item of information submitted by a client.

Correct Answer
verified

When a practitioner discovers an error in a client's prior return,AICPA tax ethics rules require that an amended return immediately be filed.

Correct Answer
verified

During an audit,the IRS might require that the taxpayer produce the ____________________ that underlie the tax return data.

Correct Answer
verified

IRS computers use document matching programs for both individuals and business taxpayers to keep the audit rate low.

Correct Answer
verified

Henrietta has hired Gracie,a CPA,to complete this year's Form 1040.Henrietta uses software to keep the books for her business.She tells Gracie that a $5,000 amount for business supplies is "close enough" to constitute the deduction.Gracie can use this estimate in completing the Form 1040.

Correct Answer
verified

Certain individuals are more likely than others to have the Form 1040 audited by the IRS.List at least five factors that may increase above the national norms one's chances of audit.

Correct Answer
verified
These circumstances ...
View Answer

How is the tax law affected by Federal criminal statutes?

Correct Answer
verified
A series of criminal penalties are asses...
View Answer

Exam 26: Tax Practice and Ethics

In preparing a tax return,a CPA should verify "to the penny" every item of information submitted by a client.

Correct AnswerverifiedShow Answer

When a practitioner discovers an error in a client's prior return,AICPA tax ethics rules require that an amended return immediately be filed.

Correct AnswerverifiedShow Answer

During an audit,the IRS might require that the taxpayer produce the ____________________ that underlie the tax return data.

Correct AnswerverifiedShow Answer

IRS computers use document matching programs for both individuals and business taxpayers to keep the audit rate low.

Correct AnswerverifiedShow Answer

Henrietta has hired Gracie,a CPA,to complete this year's Form 1040.Henrietta uses software to keep the books for her business.She tells Gracie that a $5,000 amount for business supplies is "close enough" to constitute the deduction.Gracie can use this estimate in completing the Form 1040.

Correct AnswerverifiedShow Answer

Certain individuals are more likely than others to have the Form 1040 audited by the IRS.List at least five factors that may increase above the national norms one's chances of audit.

Correct AnswerverifiedThese circumstances ...View AnswerShow Answer

How is the tax law affected by Federal criminal statutes?

Correct AnswerverifiedA series of criminal penalties are asses...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
These circumstances ...
View Answer

Correct Answer
verified
A series of criminal penalties are asses...
View Answer