Troys 2018 tax return is audited. The auditor determines that Troy inadvertently understated his ending inventory in
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Troy’s 2018 tax return is audited. The auditor determines that Troy inadvertently understated his ending inventory in calculating his business income. The error creates an additional tax liability of $5,000. The IRS charges interest on the additional tax liability of $600.
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Related Book For 
Concepts In Federal Taxation 2021
ISBN: 9780357141212
28th Edition
Authors: Kevin E. Murphy, Mark Higgins, Randy Skalberg
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