Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
For each independent situation, indicate which section, if any, the practitioner has violated under Circular 230. The practitioner found an error on a clients prior
- For each independent situation, indicate which section, if any, the practitioner has violated under Circular 230.
- The practitioner found an error on a clients prior year return. The practitioner advised the client of the consequences of the error but did not report the error to the IRS.
- The practitioner reviews a new clients prior year return and notes a number of areas where it appears the new client did not take all the deductions she would be entitled to. The practitioner proposes a contingent fee structure based on a percentage of the tax savings from any new deductions the practitioner identifies. This fee structure would apply to the current year return and an amended return for the prior year.
- In a local advertisement, the practitioner includes a statement that his initial consultation fee is $50 and he charges between $100 and $500 for a Form 1040 including a Schedule A for itemized deductions.
- A clients prior return preparer was suspended from practice before the IRS. The prior preparer completed the clients Schedule C. The new practitioner uses the Schedule C as mpleted by the prior preparer in finishing the clients current tax return"
- The practitioner found an error on a clients prior year return. The practitioner advised the client of the consequences of the error but did not report the error to the IRS.
- The practitioner reviews a new clients prior year return and notes a number of areas where it appears the new client did not take all the deductions she would be entitled to. The practitioner proposes a contingent fee structure based on a percentage of the tax savings from any new deductions the practitioner identifies. This fee structure would apply to the current year return and an amended return for the prior year.
- In a local advertisement, the practitioner includes a statement that his initial consultation fee is $50 and he charges between $100 and $500 for a Form 1040 including a Schedule A for itemized deductions.
- A clients prior return preparer was suspended from practice before the IRS. The prior preparer completed the clients Schedule C. The new practitioner uses the Schedule C as mpleted by the prior preparer in finishing the clients current tax return"
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started