4 Under the Joint Ethics Enforcement Program, which of the following warrants an automaticsuspension or termination of a member without an investigation?O Receipt of an opening letterO An IRS audit of the member's personal tax returnsA criminal conviction punishable by imprisonment for more than one yearO Receipt of a letter of corrective action

Eliminating the incorrect options:Option A. Receipt of an opening letterReasoning: An opening letter…

Under the Joint Ethics Enforcement Program, which of the following warrants an automatic suspension or termination of a member without an investigation? Receipt of an opening letter O An IRS audit of the member's personal tax returns O A criminal conviction punishable by imprisonment for more than one year Receipt of a letter of corrective action

Under the Joint Ethics Enforcement Program, which of the following warrants an automatic suspension or termination of a member without an investigation? Receipt of an opening letter O An IRS audit of the member's personal tax returns O A criminal conviction punishable by imprisonment for more than one year Receipt of a letter of corrective action

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter26: Tax Practice And Ethics

Section: Chapter Questions

Problem 5DQ

See similar textbooks

Similar questions

Under what circumstance will the Internal Revenue Service initiate contact asking for personal or financial information by email? When the customer's identity has been marked as suspicious. When the preparer of the return is found in violation of Circular 230. When a return is filed via an ERO. The IRS does not request personal information by email.
The Taxpayer Advocate Service (TAS) can help taxpayers with what type of assistance? As a first step, rather than dealing with the IRS, when the taxpayer believes there are unusual circumstances involved. When the taxpayer feels the resolution applied by the IRS is unreasonable. If there is a financial difficulty, emergency, or hardship and the IRS needs to move faster than normal. When an audit results in a significant change and the deadline for appeal has passed. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
1. Under the Statute of Frauds, the following contracts must be in writing, otherwise they cannot be enforced in court litigation except CHOICES: Sale of personal property at a price not more than P300.00 Sale of real property regardless of the price involved Sale of property not to be performed within a year from the date thereof regardless of the nature of the property and price involved Answer not given
QUESTION 5 The principal legal duties imposed upon partners in their relations with one another include: O a. a duty to vote for candidates that will help the business. Ob.a duty to devote full time and expertise to the partnership. O cthe duty to compensate other partners for their time and efforts spent on partnership business. Od.the fiduciary duty or the duty of loyalty. A QUESTION 6 In deciding whether property owned by a partner before formation of the partnership and used in the business is a capital contribution that belongs to the firm, a court will consider which of the following? Oa Whether the property was improved with partnership funds Ob. Whether the property was carried on the books of the partnership as an asset OC Admissions or declarations of the partners Od. All of these would be considered. QUESTION 7
When a CPA knows that a tax client has skimmed cash receipts and not reported the incomein the federal income tax return but signs the return as a CPA who prepared the return, theCPA has violated which of the following AICPA rules of conduct?a. The Confidential Client Information Rule.b. The Integrity and Objectivity Rule.c. The Independence Rule.d. The Accounting Principles Rule
In which of the following situations is there a violation of client confidentiality under the AICPA Code of professional conduct? 1. A member discloses confidential client informationto a court in connectionwith arbitration proceedings related to the client. 2.A member disclosesconfidential client informationto a professional liability insurance carrier after learning of a potential claim against the member. 3.A member whose practice is primarily bankruptcy discloses a client's name. 4.A member uses a record retention agency to store clients' records that contain confidential client information.
The commissioner can force a taxpayer to produce his/its accounting records if the taxpayer refuses to provide the same during audit. TRUE OR FALSE?
. The RIB Act grants the Discipline Committee power to impose penalties on members found guilty of misconduct, which is defined under Section 15(1) of Ontario Regulation 991. Which one (1) of the following acts is NOT defined as "misconduct". Being convicted after October 1, 1981 of a criminal offence or an offence under the Insurance Act. Failure to comply with the RIB Act, Regulations and By-laws. The payment of any referral or finder's fee to an insurance broker registered in the province of Quebec to act as an intermediary for insurance, other than life insurance. The use of any practice or conduct that results in unreasonable delay or resistance to the fair adjustment of claims.
Tax Drill - Types of Audits Complete the following statements regarding the types of audit conducted by the IRS. Taxpayers usually are able to settle routine tax disputes (e.g., queries involving the documentation of deductions) through with the IRS. However, are conducted in an office of the IRS. In most instances, the taxpayer is subject to . A is conducted by IRS agents at the office or home of the taxpayer or at the office of the taxpayer's representative.
Which of the following instances is not a ground for the BIR Commissioner to inquire or examine the bank deposits of taxpayers? when the taxpayer filed an application for compromise of his tax liability when the taxpayer fails the lifestyle check test and shows unexplained wealth the taxpayers waives his right in writing the confidentiality of the bank deposits to determine the gross estate of a decedent
Each of the following situations involves a possible violation ofthe AICPA Code of Professional Conduct. For each situation, state the applicable section ofthe rules of conduct and whether it is a violation.a. Emrich, CPA, provides tax services, management advisory services, and bookkeepingservices and also conducts audits for the same nonpublic client. Because the firm issmall, the same person often provides all the services.b. Franz Marteens is a CPA, but not a partner, with 3 years of professional experiencewith Roberts and Batchelor, CPAs. He owns 25 shares of stock in an audit client ofthe firm, but he does not take part in the audit of the client, and the amount of stockis not material in relation to his total wealth.c. A nonaudit client requests assistance of M. Wilkenson, CPA, in the installationof a local area network. Wilkenson had no experience in this type of work andno knowledge of the client’s computer system, so he obtained assistance from acomputer consultant. The…
Match the described job with the job title from 1. Revenue Officer 2. Tax Compliance Officer 3. Appeals Officer 4. Customer Service Representative 5. Revenue Agent 6. Special Agent 7. National Taxpayer Advocate 8. Deputy Commissioner 9. Chief Counsel Attorney Files a levy to get money from a taxpayer's bank account. Performs complex audits at a taxpayer's business Investigates tax evasion and conspiracy claims Performs audits on limited issues at IRS offices Writes IRS Regulations