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Provide a short answer (3-4 lines) for the following hypothetical situations. To recieve full points, your response must include: (1) an answer to the question
Provide a short answer (3-4 lines) for the following hypothetical situations. To recieve full points, your response must include: (1) an answer to the question (e.g., yes, no, etc.); (2) a SHORT explanation for your answer; and (3) the applicable citation under Circular 230 (e.g., "sec. 10.32" or "S10.32"). You can "cut & paste and summarize" from Circular 230. HINT: I am only looking for the single-most applicable section of Circular 230 directly applicable to each question (i.e., don't write two sections of Circular 230 as an answer) You can use a section of Circular 230 to answer multiple questions (e.g., 10.20 may be applicable to several questions). You should be able to find locate the answers to the hypotheticals in the following sections of Circular 230 810.22 S10.2 S10.24 S10.30 S10.50 S10.20 $10.25 $10.31 S10.51 810.21 $10.27 $1 $10.32 S10.34 810.53 810.23 $10.29 S10.37 0.28 $10.79 5. In 2015, a CPAwas disbarred from practicing from the IRS. Can the CPA start to prepare returns in 2021? 6. Eugene Porter, a CPA, began preparing tax retums regularly publishes a list of his fees and blankets the local area with filyers advertising that, for uncomplicated tax retums, his fees is $100. A footnote at the bottom of the flyer states that additional fees may apply in certain situations. Eugene prepares a tax retum for a client. Since the taxpayer qualified for the eamed income tax credit (EITC), without telling the client, Eugene charged an additional $500 for completing the EITC form. Has Eugene violated any ethical duties under Circular 230? 7. In preparing a client's tax retum for the current year, you discover the prior accountant made an error regarding a net operating loss (NOL). The error results in the NOL carryforward being overstated by $100,000. You inform your client of the error. The client still wants you to prepare the current year's tax retum using the incorrect $100,000 NOL carryforward amount. Explain whether you can you do as the client requested
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