Daze filed his personal income tax for 2 0 2 0 on May 4 , 2 0
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Question:
Daze filed his personal income tax for on May He did not have any reasonable cause for delinquent tax filing. He also inadvertently left out his bonus income $ from reporting on his tax return. His tax return without such bonus income shows $ gross income
The IRS initiated its audit on Dazes tax return on June Does the IRS have authority to audit and possibly litigate Dazes tax return on the omission of the bonus income?
Answer only one of the following two.
i If so why?
ii If not, is there any circumstance under which the IRS would be authorized to conduct an audit?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: