How the irs makes changes to a tax return

Assignment Help Accounting Basics
Reference no: EM133609820

Question: A retired 67-year-old, low-income client makes an appointment with you, a tax professional, to have a tax return prepared. Once you review their documents, you realize this is a simple return. The firm charges a minimum of $500 per tax return prepared, which is a significant amount of money for the taxpayer. Create one initial post and respond to at least two of your classmates.You are an intern at an accounting firm specializing in complex tax issues, and they are looking to appeal to a younger client base. One of the partners approaches you to ask if you will create a blog post about one of the firm's tax cases that is being appealed. When summarizing a client's tax issue, you should review the statute of limitations, how the IRS makes changes to a tax return, IRS requirements for estimated tax payments, and the difference between estimated figures and estimated payments.

Reference no: EM133609820

Questions Cloud

What are the proceeds that will be used to buy back shares : assuming that the stock price of Illinico is $40 per share, what are the proceeds that will be used to buy back shares in the analysis
Explain what are formative and summative assessments : Explain What Are Formative and Summative Assessments - 21st Century Classroom? How would you go about developing and implementing these summative assessments
Latest developments and operating strategy : Latest developments and operating strategy. For this discussion forum students should find 1 example of a recent (2021 or 2022) letter to shareholders
What critics say about the main point : Main point of Ann Hornaday, Washington Post Review: The movie CODA reminds us that cliches sometime work and brilliantly. what critics say about the main point.
How the irs makes changes to a tax return : How the IRS makes changes to a tax return, IRS requirements for estimated tax payments, and the difference between estimated figures and estimated payments
What is eye tracking and who invented the first eye tracker : What is included in this text that helps the reader understand what they are reading? What is eye tracking? Who invented the first eye tracker?
What portion of the employees earnings : what portion of the employee's earnings during the current period are subject to social security tax?
How effective is this response : explain to your colleague that you found a file of invoices received during your absence that needed to be sent to finance for payment. How effective is this
How the appointment of a supreme court justice has affected : Discuss these controversies and explain how the appointment of a Supreme Court Justice has affected or may affect the overall direction of the court.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd