The IRS has issued a summons for the tax file held by CPA Ann Whitman for her clients, the Harberts. The file consists of paper and electronic spreadsheets in which Whitman detailed some tax computations using assumptions that the IRS would find to be “too aggressive.” In addition, the file includes notes from meetings with the Harberts, income and balance sheet data as to their personal assets, and other technical correspondence, including email messages. In a memo to the tax research file, summarize the current status of the law as to whether the privilege of confidentiality protects these documents from the government.
Answer to relevant QuestionsWhat are the chief responsibilities of the following? a. The IRS Commissioner b. The IRS Chief Counsel c. The National Taxpayer Advocate d. Local taxpayer advocates Distinguish between the mathematical/clerical error program and the unallowable items program. Discuss which penalties, if any, the tax adviser might be charged with in each of the following independent circumstances. In this regard, assume that the tax adviser: a. Provided information about the taxpayer’s federal ...What is the role of the statute of limitations in the federal income tax system? Kold Corporation estimates that its 2015 taxable income will be $ 900,000. Thus, it is subject to a flat 34 percent income tax rate and incurs a $ 306,000 tax liability. For each of the following independent cases, compute ...
Post your question