When Larry filed his taxes he forgot to include $2,500 in cash income he earned painting a
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When Larry filed his taxes he forgot to include $2,500 in cash income he earned painting a friend’s house. He was going through his checking account records and noticed the cash deposit and realized his mistake.
a. Should Larry ignore his mistake or file an amended return? Why or why not?
b. What are the possible consequences of Larry ignoring the error?
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a Larry should amend his return and p...View the full answer
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