Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4. Consider the following narrative describing the process of preparing an income tax return: Each year before April 15, you file your income taxes. You
4. Consider the following narrative describing the process of preparing an income tax return: Each year before April 15, you file your income taxes. You collect multiple W-2 and 1099 documents. You prepare your tax return and double-check it for accuracy. You file your forms. Use BPMN to model the process using the following independent assumptions. Use inclusive gateways to model simultaneous events. connect Mc Graw Hill a. When you prepare your tax return, you download multiple forms from the IRS website. You fill out the forms, double-check your work, and then print them out. If you owe money, you write a check. You mail your tax return along with the check if you owe money. If you are getting a refund, you wait to receive your refund by check and deposit your refund in your bank account. QLO 2-8 b. When you prepare your tax return, you use cloud-based tax software. You answer the questions and the tax software prepares the tax return for you. Once you've double-checked your work, you enter your checking account details and file your return electronically. If you owe money, the IRS will automatically deduct the amount from your checking account in 7 days. If you are getting a refund, the IRS will deposit the refund directly into your checking account. QLO 2-8
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started