Using PowerPoint slides, list at least three of the Statements on Standards for Tax Services that apply to CPAs. For each standard you choose, provide a short explanation of its content.
Answer to relevant QuestionsAlexi files her tax return 20 days after the due date. Along with the return, she remits a check for $3,000, which is the balance of the tax she owes. Disregarding any interest liabilities, compute Alexi's total penalties ...Compute the failure to pay and failure to file penalties for John, who filed his 2015 income tax return on December 20, 2016, paying the $10,000 amount due at that time. On April 1, 2016, John received a six-month extension ...Compute the undervaluation penalty for each of the following independent cases involving the value of a closely held business in the decedent's gross estate. In each case, assume a marginal estate tax rate of 40%. Loraine (a calendar year taxpayer) reported the following transactions, all of which were properly included in a timely filed return. a. Presuming the absence of fraud, how much of an omission from gross income is required ...On June 10, Ming states, "I filed my Form 1040 on April 5 and haven't heard from the IRS since then, so I know I will not be audited!" Evaluate Ming's assumption.
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