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Investigating individual for possible tax evasion

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Reference no: EM133240114

Question

You are investigating an individual for possible tax evasion. You gather the following information for the year 2020: Deposits to the bank $150,000; Personal expenses paid by Cash $30,000; total income reported on the tax return $60,000; Mortgage loan payable $70,000. Using the Bank Deposit Method, determine if any unreported income may exist. Show your calculations.

Reference no: EM133240114

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