Question:
In setting about preparing and signing taxpayer's annual return, Felix, a certified public accountant and AICPA member, is aware that he does not possess adequate information to answer a particular question on his client's tax return. Unfortunately, the taxpayer, an individual client, is on vacation until April 20th and will not be available to answer the question until after the due date of the return on April 15th. Prior to his client's departure, Felix assured the client that he possessed all of the information necessary to complete, sign and file the return by the 15th. Unfortunately, Felix forgot to get adequate information to reply to the particular question asked in the return. In defense of Felix's failure to procure the information necessary to answer the question, it is clear that the information will not significantly impact the taxpayer's income or loss or ultimate tax liability. What should Walters do?