How the irs makes changes to a tax return

Assignment Help Accounting Basics
Reference no: EM133609820

Question: A retired 67-year-old, low-income client makes an appointment with you, a tax professional, to have a tax return prepared. Once you review their documents, you realize this is a simple return. The firm charges a minimum of $500 per tax return prepared, which is a significant amount of money for the taxpayer. Create one initial post and respond to at least two of your classmates.You are an intern at an accounting firm specializing in complex tax issues, and they are looking to appeal to a younger client base. One of the partners approaches you to ask if you will create a blog post about one of the firm's tax cases that is being appealed. When summarizing a client's tax issue, you should review the statute of limitations, how the IRS makes changes to a tax return, IRS requirements for estimated tax payments, and the difference between estimated figures and estimated payments.

Reference no: EM133609820

Questions Cloud

What are the proceeds that will be used to buy back shares : assuming that the stock price of Illinico is $40 per share, what are the proceeds that will be used to buy back shares in the analysis
Explain what are formative and summative assessments : Explain What Are Formative and Summative Assessments - 21st Century Classroom? How would you go about developing and implementing these summative assessments
Latest developments and operating strategy : Latest developments and operating strategy. For this discussion forum students should find 1 example of a recent (2021 or 2022) letter to shareholders
What critics say about the main point : Main point of Ann Hornaday, Washington Post Review: The movie CODA reminds us that cliches sometime work and brilliantly. what critics say about the main point.
How the irs makes changes to a tax return : How the IRS makes changes to a tax return, IRS requirements for estimated tax payments, and the difference between estimated figures and estimated payments
What is eye tracking and who invented the first eye tracker : What is included in this text that helps the reader understand what they are reading? What is eye tracking? Who invented the first eye tracker?
What portion of the employees earnings : what portion of the employee's earnings during the current period are subject to social security tax?
How effective is this response : explain to your colleague that you found a file of invoices received during your absence that needed to be sent to finance for payment. How effective is this
How the appointment of a supreme court justice has affected : Discuss these controversies and explain how the appointment of a Supreme Court Justice has affected or may affect the overall direction of the court.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Input into the budgeting process

For governmental agencies, a budget places a legal limit on expenditures. As employees are asked for input into the budgeting process, what types of biases are likely to be encountered? Explain why these biases exist.

  Make journal entries to record the foregoing transactions

How do Prepare journal entries to record the foregoing transactions, assuming the hospital is a business-type government facility.

  Prepare the journal entry to record the purchase of the mine

Prepare the journal entry to record the purchase of the mine and to record the asset retirement obligation for the mine on April 1, 2020

  On february 1 2013 arrow construction co entered into a

on february 1 2013 arrow construction co. entered into a three year construction contract to build a bridge for a price

  Calculate the future value of the investment

Question - Tom and Suri decide to take a worldwide cruise. To do so, they need to save $10,000. Calculate the future value of the investment

  Describe and explain the purpose of the internal controls

Describe and explain the purpose of the internal controls you might expect to see in the sales system at Nice Flowers over the Receipt

  Bonds to maturity problem

A company paid $37,800 plus a broker's fee of $525 to acquire 8% bonds with a $40,000 maturity value. The company intends to hold the bonds to maturity. The cash proceeds the company will receive when the bonds mature equal:

  Prepare a segmented income statement

Prepare a segmented income statement in the contribution format for the company. Omit percentages; show only dollar amounts.

  What is the amount and character of Mohammed gain or loss

Mohammed sells one-half of his interest to Soren for $60,000 cash. What is the amount and character of Mohammed's gain or loss on the sale

  What will be the amount of cash received by king

If Nettles is personally bankrupt and unable to pay any of the $66,000, what will be the amount of cash received by King and Tanaka upon liquidation?

  Prepare balance sheet for the fund in good form

The following adjusted trial balance is taken from the General Fund of Align City for the year ended June 30. Prepare Balance sheet for the fund in good form

  Prepare journal entries for abc related to arrangement

ABC Ranch & Farm is a distributor of ranch and farm equipment. Its products range from small tools, power equipment for trench-digging and fencing.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd