What of the following is not considered practice before the IRS per Circular 230? A. Corresponding with the IRS in writing B. Talking on the telephone to the IRS about a taxpayer C. Appearing as a witness for a taxpayer D. Representing a taxpayer at a hearing

Q: State your agreement/disagreement and explain your answer: A taxpayer who intends to challenge an…

A: A person or an entity (such as a corporation) that is compelled to pay a tax is known as a taxpayer.…

Q: IN Rul. 60-314 What is the tax issue addressed by the IRS? What code section is being addressed in…

A: Tax reporting:   Tax reporting stands for the reporting of taxation expenditure, tax rate, tax…

Q: cases of deductions and exemptions on income tax returns, doubts shall be resolved Group of answer…

A: The question is related to the deductions and exemptions on income tax returns, doubts.

Q: The object of distraint may either be personal and/or real properties of a delinquent taxpayer

A: Delinquent taxpayers are those taxpayers who did not pay the amount of taxes due till the deadlines.…

Q: Examples for the permanent differences between financial reporting and reporting for the IRS in…

A: Answer:- Financial reporting meaning:- The process for recording and communicating financial…

Q: What is the goal of a tax audit? A. To make sure you paying your imposed fines  B. To make sure…

A: Tax audit means audit of the information provided in tax returns like income and expenditure are…

Q: Which of the following statements best describes the purpose of the Taxpayer Bill of Rights? a.To…

A: Introduction Taxpayer Bill of Rights are the group of 10 fundamental rights initiated by United…

Q: Under what circumstances would you gather tax information from the IRS web site?

A: IRS stands for Indian revenue services. It has the responsibility for the collection and…

Q: e fo

A: Tax refers to the mandatory charge levied by the government over the income gained by an entity.

Q: TRUE OR FALSE? The levy may be repeated until the full amount due, including all expenses is…

A: Answer 1:- True Explanation:-  The above assertion is true. As per the the appropriate section the…

Q: Prohibits practitioners from advertising tax preparation services.  Requires practitioners to…

A: Section 10.27- fees specify that the practitioner should not charge any unconscionable fees before…

Q: Define the term the IRS? What are the guidelines of the IRS?

A:

Q: Is it the auditors’ responsibility to verify that the client meets tax-exempt status?

A: Here the requirement of the question is it the auditor's responsibility to verify that the client…

Q: What is the principle behind IRS tax free or tax deferred transaction

A: An individual retirement account is a financial instrument created for people to save for their…

Q: tances w

A: Circular 230, effective June 9, 2014, governs the practice of CPAs, attorneys, enrolled agents, and…

Q: Nicanor computed his tax and voluntarily paid the same thru the bank. The BIR concluded that Nicanor…

A: Correct option: -Assessment

Q: You must file an IRS form 2553 to tell the IRS that you want to be an S Corporation or in other…

A: Form 2553 is a legal form to be filed for tax benefits and taken separate corporate status.

Q: taxpayer has no obligation to pay more taxes than are legally owed, and a [CPA] has a duty to the…

A: Standards for tax services are the standards that describe the responsibilities that CPA’s have…

Q: The registration of tax agents and BAS agents is governed by the provisions of the Tax Agents…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Which one of the following deductions is available under S25-5 ITAA97 (Tax related expenses) Choose…

A: According to Income Tax Assessment Act 1997 - SECT 25.5 following tax related expenses deductions is…

Q: Using either the “hobby loss” (hobby vs. “trade or business”) or the “day trader” (vs. investor)…

A: Sole proprietorship: The form of business entity which is owned and managed by an individual is…

Q: Which of the following instances is not a ground for the BIR Commissioner to inquire or examine the…

A: The answer is stated below:

Q: Dirk has received a notice from the Commissioner of Taxation that the Commissioner has disallowed…

A: As per the taxpayer rights and protections, Commissioner of Tax considered as an independent agency,…

Q: Which of the following will not require reporting of taxpayer’s income on a calendar basis? *   If…

A: Correct option is A.If the taxpayer is a corporation operating in a fiscal year    Companies are…

Q: Which of the following is a compliance tool the IRS utilizes to address the tax gap?   Compliance…

A: Tax gap is the amount of tax which is computed by subtracting the tax paid by the tax payer from the…

Q: One of the following statements is correct. A choice of by an individual of the Optional Standard…

A: As opposed to the reporting of an itemized or individual deductions, the current law used to allow…

Q: A taxpayer’s tax-exempt status justifies the non-keeping of books of accounts and other accounting…

A: Exempted income means the income on which income tax is not levied or paid.

Q: Indicate whether the following statements are "True" or "False" regarding the statute of…

A: Statute of Limitation  This term which was applicable in prescribed time period which are entrusted…

Q: Why is recordkeeping so important as a taxpayer and tax preparer?

A: Record keeping is the process of maintaining and keeping all the accounting records of the business…

Q: a. Identify whether each of the above payments by PSB to APL are subjected to withholding tax. Give…

A: Tax withholding can be defined as the amount of tax being paid by the taxpayer to the government…

Q: remedy in recovering the overwithholding? a. Claim the overwithholding as tax credit for the year b.…

A: Tax is a liability for the company calculated on the income earned by the company and paid to the…

Q: Is it appropriate or inappropriate for government tax enforcement officials to socialize with tax…

A: Every individual and company is liable to pay tax to the government. But the individual and company…

Q: The IRS does not have the authority to: a.Summon taxpayers to make them appear before the IRS.…

A: The IRS or Internal Revenue Service’s is the tax collection agency of the nation that administers…

Q: Withholding is: b. A method by which the government collect taxes at the time of its A method of…

A: Taxes are the dues and liabilities which needs to be paid by the individual to the government on…

Q: Which of the following statements best describes the purpose of Oa. To inform taxpayers of their…

A: A bill which describes the rights of tax payer regarding tax is called bill of rights.

Q: The official document issued by the CIR or his authorized representative authorizing the examination…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Which of the following may not result to a short period filing or tax return?     Death of a…

A: Many of the situations results in short filing of return for tax return but in many situations it is…

Q: Which of the following statements is TRUE? A separate row of Form 8949 must be completed for each…

A: Form 8949 is filled through those who sell the capital assets or even who exchanges the asset such…

Q: Indicate whether the following statements are "True" or "False" regarding AICPA Statements on…

A: AICPA Statements on Standards for Tax Services The Statements are enforceable standards of…

Q: Using either the “hobby loss” (hobby vs. “trade or business”) or the “day trader” (vs. investor)…

A: Schedule C- It is an IRS form that is to be filled by a sole proprietor or say a businessman to…

Q: Tax preparers may be assessed a penalty for failing to give the taxpayer the preparer's workpapers.

A:

Q: Someone receives an IRS notice regarding a math error, what does that mean? Is there any advice or…

A: Under Sec. 6213(g) (2), math errors include:An error due to addition, subtraction, multiplication,…