Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Answer the following multiple choice question. 1. A taxpayer tells you that they had health insurance coverage for the entire year, but they did not

Answer the following multiple choice question.

1.A taxpayer tells you that they had health insurance coverage for the entire year, but they did not bring proof of the coverage.This information along with all other information gathered during your interview does not seem unusual or questionable.As a tax preparer, you should:

a. Send the taxpayer home to get their insurance card

b. Prepare the return using the information without seeing any proof of insurance coverage

c. Prepare their return without giving them credit for having health insurance coverage24

2.What information must a volunteer review to deter the possibility of identity theft?

a. Form W-2

b. Photo identification

c. Last years tax return

d. Medicaid card

3.The taxpayer signs the tax return after quality review and after being advised of their responsibility for the accuracy of the information on the return.

a. True

b. False

4.You can quality review a tax return you just prepared instead of waiting for someone else to quality review the return.

a. True

b. False

5.Which of the following four critical processes for quality review is not correct:

a. Engaging the taxpayer in the review process

b. Using Google as a main reference for tax law determinations

c. Using Form 13614-C, Part VIII as a guide while conducting the quality review

d. Comparing source documents provided by the taxpayer

6.Completing a thorough interview before entering taxpayer information into the software helps avoid which of the following potential problems?

a. The volunteer may not have the required certifications to prepare the return

b. The return may be out of scope

c. The taxpayer may not have all the information needed to prepare the return

d. All of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

Types of Interpersonal Relationships?

Answered: 1 week ago

Question

Self-Disclosure and Interpersonal Relationships?

Answered: 1 week ago