Levi is recommending a tax return position to his client. What standard must he meet to satisfy

Question:

Levi is recommending a tax return position to his client. What standard must he meet to satisfy his professional standards? What is the source of this professional standard?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Taxation Of Individuals And Business Entities 2015

ISBN: 9780077862367

6th Edition

Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver

See More Books

Question Posted: Jan 20, 2017 09:56 AM

See More Questions

What standards must you abide by when signing a return or recommending a tax return position to a taxpayer? What must you do to satisfy this standard?
What are the tax practitioner's standards to avoid a penalty for recommending a tax return position?
What is an IRS announcement? When is it used? In your opinion, could a tax practitioner rely on an IRS announcement as authority for a tax return position?
Randy, Inc., can issue 3-month commercial paper with a face value of $1,500,000 for $1,450,000. Transaction costs will be $1,500. The effective annualized percentage cost of the financing, based on a...
The condensed single-step income statement for the year ended December 31, 2012, of Sunderland Chemical Company, a distributor of farm fertilizers and herbicides, appears as follows: Selected...
Assume that Blitzkrieg Realty Co. borrowed $25,000 from First Union Bank and Trust. In recording the transaction, Blitzkrieg erroneously recorded the receipt of $25,000 as a debit to cash, $25,000,...
What is the difference between a formal system and an informal system with respect to culture? AppendixLO1
The following are costs associated with manufacturing firms, merchandising firms, or service firms: a. Miscellaneous materials used in production b. Salespersons commission in a real estate firm c....
The following additional information is available at June 3 0 , 2 0 2 2 : ( i ) Store Supplies on hand at June 3 0 , 2 0 2 2 amounted to $ 1 5 9 , 5 0 0 . ( ii ) Insurance of $ 2 0 2 , 0 5 0 was paid...
H Ltd acquired 25% of the equity voting shares of S Ltd on 1 January 2004. The total equity voting shares consisted of 1,000,000 shares of 1 each nominal value. The price paid by H Ltd was 2 per...
Identify some of the sources for tax professional standards. What are the potential ramifications of failing to comply with these standards?
What is Circular 230?
Normal spoilage is planned spoilage. Discuss.
A carload of Hg-ore containing grains of cinnabar (86%Hg by mass; density = 8.19 g/cm3) and grains of basalt (containing no Hg; density=2.84 g/cm3) is to be sampled and analyzed for mercury. The...
CMS reviews acute IPPS and long-term care hospital (LTCH) records for payment purposes. Documentation and coding assignment must be accurate and specific. CMS contracts with Medicare Administrative...
Problem 2. x3+2x+1 f(x) = = 5-x 8H xx (4 points) Without graphing the function, find the limits lim f(x) and lim f(x) analyt- ically and show your work. Specify if the limits are - or +. (1 point)...
For change management, answer the following questions in detail, citing some industry examples: 1. What would you do if your manager requested you change your way of working on a project? 2. What do...
1.Sony has just released a new CD recording (okay, not new because we don't buy CDS) but anyway.Here is some cost and price information: CD Disc and Packaging (material and labor) $1.75/CD...
Suppose that you need interview attire and there are many retail options. Using the information in the text, choose three different major store retailer types and select a specific store for each...
SBS Company have received a contract to supply its product to a Health Care Service Hospital. The sales involve supplying 1,250 units every quarter, the sales price is RM 85 per unit. The Client...
Division West Chinchilla Ranch advertised on television that a five-figure income could be earned by raising chinchillas with an investment of only $3.75 per animal per year and only thirty minutes...
William Schmalz entered into an employment contract with Hardy Salt Company. The contract granted Schmalz six months severance pay for involuntary termination but none for voluntary separation or...
Treasure Salvors and the State of Florida entered into a series of four annual contracts governing the salvage of the Nuestra Senora de Atocha. The Atocha is a Spanish galleon that sank in 1622,...
TestAnswerSavedHelp opens in a new windowSave & ExitSubmit Item 1 7 1 0 points Time Remaining 1 hour 2 0 minutes 1 8 seconds 0 1 : 2 0 : 1 8 Item 1 7 Time Remaining 1 hour 2 0 minutes 1 8 seconds 0 1...
Use the following information for the Problems below. (Algo) [The following information applies to the questions displayed below.] Lansing Company's current-year income statement and selected balance...
In the context of portfolio theory, what is diversification primarily intended to do ? A ) Increase returns. B ) Reduce risk. C ) Maximize tax efficiency. D ) Simplify investment management.

Levi is recommending a tax return position to his client. What standard must he meet to satisfy

Question:

Step by Step Answer:

AICPA SSTS No 1 provides that a tax professional must comply with the standards imposed by the appli...View the full answer

Taxation Of Individuals And Business Entities 2015

Students also viewed these Business Law questions