A Tax Professional at your office states that record reconstruction is not important unless the taxpayer...
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A Tax Professional at your office states that record reconstruction is not important unless the taxpayer is claiming a refundable credit. The BEST reply would be: This is incorrect. ANY time a taxpayer does not have adequate records, a thorough reconstruction must be done. This is incorrect. It's not as important if the taxpayer isn't claiming a refundable credit, but you should still do a cursory reconstruction. This is correct. You can accept the taxpayer's best guess for their income and expenses as long as they're not claiming a refundable credit. This is correct. Record reconstruction is only important if the taxpayer is claiming a refundable credit. A Tax Professional at your office states that record reconstruction is not important unless the taxpayer is claiming a refundable credit. The BEST reply would be: This is incorrect. ANY time a taxpayer does not have adequate records, a thorough reconstruction must be done. This is incorrect. It's not as important if the taxpayer isn't claiming a refundable credit, but you should still do a cursory reconstruction. This is correct. You can accept the taxpayer's best guess for their income and expenses as long as they're not claiming a refundable credit. This is correct. Record reconstruction is only important if the taxpayer is claiming a refundable credit.
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Answer rating: 100% (QA)
D This is correct Record reconstruction is important if the taxpayer is claiming a refundable credit ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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