DO NOT PLAGIARIZE please

A new client enters your office and places a box of receipts and bank statements on your desk, saying that she would like to have a set of financials prepared and tax returns completed for the current tax year. She also states that the financials and the return will be given to her bank as part of the documentation needed to acquire a $300,000 bank loan for home improvement. She would like you to complete the work within a week. As you review the documentation, you note that some of the expenses and receipts for income are not documented. Specifically, she writes expenses to deduct on a piece of paper and provides no supporting documentation. When you request the clarification and additional information from the client, she tells you that she has no more documentation and that is all she can give you.

You role in this scenario is to decide what you will do, what you can do, and how to proceed. You are aware that the bank will rely on the financial statements and income tax return that you prepare in making its decision on whether to grant the loan to your client. Do you complete the financials and prepare the tax return? What obligation do you have to communicate to the client as to the type of supporting documentation needed for the filing of a complete tax return? Are there any risks that taxpayers may face as a result of having poor documentation? What are those risks? Would you communicate those risks to the client? What obligation do you have to help her with respect to the preparation of the income tax return?

Prepare a 2 to 3-page paper in APA format citing applicable IRS codes and accounting rules for your decision. The essay should be at least 500 words in length.