Question
Situation : You are preparing the tax return for a new client. You see a deduction you believe to be frivolous (and therefore a violation
Situation: You are preparing the tax return for a new client. You see a deduction you believe to be frivolous (and therefore a violation of AICPA SSTS 1). Your client insists on taking the deduction.
Assignment: Take a look atUS Fed Form 8275 and Form 8275-R (attached below).Think about the situation described above. Assume there is not a clear answer as to the sustainability of the claim that will allow the deduction. Briefly explain the advantage of filling out the form and why you might be reluctant to fill it out the form. Is there a better alternative?
Form 8275: https://www.irs.gov/pub/irs-pdf/f8275.pdf
Form 8275-R: https://www.irs.gov/pub/irs-pdf/f8275r.pdf
**Please note that all information for this assignment has been provided. Please don't ask me to provide any other information, as there is nothing else for me to provide.
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