Appeal to the internal revenue service

Assignment Help Management Theories

Reference no: EM131049247

Professional Malpractice. Jeffery Guerrero hired James McDonald, a certified public accountant, to represent him and his business in an appeal to the Internal Revenue Service. The appeal was about audits that showed Guerrero owed more taxes. When the appeal failed, McDonald assisted in preparing materials for an appeal to the Tax Court, which was also not successful. Guerrero then sued McDonald for professional negligence in the preparation of his evidence for the court. Specifically, Guerrero claimed that McDonald had failed to adequately prepare witnesses and to present all the arguments that could have been made on his behalf so he could have won the case. Guerrero contended that McDonald was liable for all of the additional taxes he was required to pay. Is Guerrero's claim likely to result in liability on McDonald's part? What factors would the court consider?

Reference no: EM131049247

Questions Cloud

Developing an estate plan : Mike and Marie Cranston have come to you for assistance in developing an estate plan. From your initial meeting with them, you have gathered the following information

Estimate the firm''s current stock price to be : Laurel Enterprises expects earnings next year of $3.55 per share and has a 40% retention rate, which is plans to keep constant. Its equity cost of capital is 9%, which is also its expected return on new investment. Its earnings are expected to grow f..

Critical thinking legal question : Critical Thinking Legal Question In cases involving third parties who have suffered losses in reliance on negligent misrepresentations in accountants' financial reports, the courts apply different standards to assess liability.

Amount of loan for your car once you subtract down payment : Dream car toyota camry costs $27500, dream job political/community organizer makes $72,000 per year. What is 10% of your dream car's value (this is the down payment for your car) and what is 5% of your monthly income? What is the amount of the loan f..

Appeal to the internal revenue service : Professional Malpractice. Jeffery Guerrero hired James McDonald, a certified public accountant, to represent him and his business in an appeal to the Internal Revenue Service.

What is the current price of its stock : CX Enterprises has the following expected dividends: $1.08 in one year, $1.17 in two years, and $1.32 in three years. After that, its dividends are expected to grow at 4.5% per year forever (so that year 4's dividend will be 4.5% more than $1.32 and ..

What is the NAL of the lease : Big Sky Mining Company must install $1.5 million of new machinery in its Nevada mine. It can obtain a bank loan for 100% of the purchase price or it can lease the machinery. Assume that the following facts apply: Under either the lease or the purchas..

Managerial economics-a problem solving approach : Spend 2 or 3 hours observing the organization in which you are employed. During the observation, identify internal and external interactions of the organization. You can talk to stakeholders who might have information relating to external interact..

What share price would you expect after the announcement : Cooperton Mining just announced it will cut its dividend from $4.22 to $2.63 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a 3.1% rate, and its share price was $48.83. With the ..

User Account

All Pages