If a taxpayer files his or her tax return and receives a tax refund from the IRS,
Question:
If a taxpayer files his or her tax return and receives a tax refund from the IRS, does this mean that the IRS feels that the return is correct and will not be subject to a future audit.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 54% (11 reviews)
No just because the taxpayer has filed a ret...View the full answer
Answered By
Leah Muchiri
I am graduate in Bachelor of Actuarial Science and a certified accountant. I am also a prolific writer with six years experience in academic writing. My working principle are being timely and delivering 100% plagiarized free work. I usually present a precised solution to every work am assigned to do. Most of my student earn A++ GRADE using my precised and correct solutions.
4.90+
52+ Reviews
125+ Question Solved
Related Book For
Federal Taxation 2018 Comprehensive
ISBN: 9780134532387
31st Edition
Authors: Thomas R. Pope, Timothy J. Rupert, Kenneth E. Anderson
Question Posted:
Students also viewed these Business questions
-
If an equation is dimensionally correct, does this mean that the equation must be true? If an equation is not dimensionally correct, does this mean that the equation cannot be true?
-
If we reject the null hypothesis, does this mean that we have proved it to be false beyond all doubt? Explain your answer.
-
Does this mean that the plaintiffs have proven their case of intentional infliction of emotional distress?
-
Solve each system. x + 4y = - 3x + 2y = 17 -9
-
Samples of 20 parts from a metal punching process are selected every hour. Typically, 1% of the parts require rework. Let X denote the number of parts in the sample of 20 that require rework. A...
-
All versions of UNIX support file naming using both absolute paths (relative to the root) and relative paths (relative to the working directory). Would it be possible to dispose of one of these and...
-
Refer to Exercise 4.2. (a) Determine the cumulative probability distribution \(F(x)\). (b) Graph the probability distribution of \(f(x)\) as a bar chart and below it graph \(F(x)\). Data From...
-
When customers purchase a service, they are actually getting a bundle of service attributes. List and describe these attributes using a car-rental agency, a convenience store and a radio station.
-
A firm's total annual dividend payout is $250 million. Its stock price is $45 per share and it has 12,00,000 shares outstanding. The firm earned $400 million in Net Income. What is the dividend...
-
Compute the value of P for the following diagram 120 120 120 50 50 50 i-10%
-
a. What does the term hazards of litigation mean in the context of taxation? b. Why would the IRS or a taxpayer settle or compromise a case based on the hazards of litigation?
-
What is the statute of limitations for transactions involving: a. Fraud (e.g., failure to file a tax return) b. Dis-allowance of tax deduction items c. The omission of rental income that is greater...
-
Give an example of a product or component where material cost should be compared on a cost per pound basis. Give a contrasting example where cost per unit volume would be more appropriate.
-
Select two (2) types of teams. Explain the team dynamics in an organization and compare the various functions and roles of these types of teams. What is the purpose of these types of teams and what...
-
Menu engineering is an effective technique that shows the relationship between menu item sales volume, contribution margins, and menu profits. Explain how this analytical tool combined with good...
-
For an organization to thrive, every job must be carefully designed to optimize its functions so the job connects with other jobs in the organization. Ultimately, each job contributes to the...
-
A 1-year European put option on a stock with strike price of $50 is quoted as $7; a 1-year European call option on the same stock with strike price $30 is quoted as $5. Suppose you long one put and...
-
POSEY MANUFACTURING COMPANY AND SUBSIDIARY Consolidated Financial Statement Worksheet December 31, 20X7 Consolidation Entries Posey Co. Stargell Corp. DR CR Consolidated Income Statement Sales Other...
-
Explain the difference between an Internet job board and a corporate career Web site.
-
You are interested in investing and are considering a portfolio comprised of the following two stocks. Their estimated returns under varying market conditions are provided: (note: it is difficult to...
-
Under what conditions is an accrual-basis taxpayer allowed to defer reporting amounts received in the advance of the delivery of goods?
-
a. Is the interest received from government obligations taxable? Explain. b. What impact does the fact that some bond interest is tax exempt have on interest rates? c. Is an investor always better...
-
Corporations are taxed on the income they earn, and shareholders are taxed on the dividends they receive. What provisions in the tax law reduce this double tax burden?
-
How does culture relate to political and security issues in the world? Please provide specific examples. 2 What are the most significant contemporary security issues in the world? How does culture...
-
Tree Seedlings has the following current-year purchases and sales for its only product. Units Acquired at Cost Date January 1 Activities Beginning inventory January 3 Sales February 14 February 15...
-
A cylindrical log is cut as shown to form a park bench. Find: a. The area of triangle OAB in m. [2] b. The volume of the log in m. [3] B 70% 40 cm 3m
Study smarter with the SolutionInn App