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Question: Taxation
1. Describe the differences between the three types of audits in terms of their scope and taxpayer type.
2. When selected by IRS for an audit, can / should the taxpayer (T/P) ignore the IRS inquiry?
3. Simon just received a 30-day letter from the IRS indicating a proposed assessment. Does he have to pay the additional tax? What are his options?
4. What are some common examples of the timing strategy?
5. Emily and Tony are recently married college students. Can Emily qualify as her parents' dependent? Explain.
Answer each question in 200 or more words.
Use citations and references.
Use APA guidelines please.
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