Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If a taxpayer offers you a $20 bill because they were so happy about the quality service they received, what would be the appropriate action

If a taxpayer offers you a $20 bill because they were so happy about the quality service they received, what would be the appropriate action to take? a. Take the $20 and thank the taxpayer for the tip. b. Tell the taxpayer it would be better to have the $20 deposited directly into your bank account from his refund. c. Thank the taxpayer, and explain that you cannot accept any payment for your services. d. Refer the taxpayer to the tip jar located on the quality review and print station. 4. Jake is an IRS tax law-certified volunteer preparer at a VITA/TCE site. When preparing a return for Jill, Jake learns that Jill does not have a bank account to receive a direct deposit of her refund. Jill is distraught when Jake tells her the paper refund check will take three or four weeks longer than the refund being direct deposited. Jill asks Jake if he can deposit her refund in his bank account and then turn the money over to her when he gets it. What should Jake do? a. Jake can offer to use his account to receive the direct deposit, and turn the money over to Jill once the refund is deposited. b. Jake should explain that a taxpayers federal or state refund cannot be deposited into a VITA/TCE volunteers bank account and she will have to open an account in her own name to have the refund direct deposited. c. Jake can suggest she borrow a bank account number from a friend because the taxpayers name does not need to be on the bank account. 5. Max prepares a tax return for Ali at a VITA/TCE site. He finds out during the interview that Ali has no health insurance. After Ali leaves the site, Max writes her name and contact information down to take home to his wife who sells health insurance for profit. Which of the following statements is true? a. There is no violation to the Volunteer Standards of Conduct (VSC) unless Maxs wife makes a big commission on the sale of health insurance to Ali. b. Max has violated the VSC because he is using confidential information to engage in a financial transaction to further his own or anothers personal interest. c. Max is doing Ali a favor by using her personal information to secure business for his wife. d. Information a taxpayer provides at a VITA/TCE site can be used for the volunteers personal gain.

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Analysing Financial Performance Using Integrated Ratio Analysis

Authors: Nic La Rosa

1st Edition

0367552523, 978-0367552527

More Books

Students also viewed these Accounting questions