In March 2019, Jim asks you to prepare his Federal income tax returns for tax years 2016,
Question:
In March 2019, Jim asks you to prepare his Federal income tax returns for tax years 2016, 2017, and 2018. In discussing this matter with him, you discover that he also has not filed for tax year 2015. When you mention this fact, Jim tells you that the statute of limitations precludes the IRS from taking any action as to this year.
a. Is Jim correct about the application of the statute of limitations? Why or why not?
b. If Jim refuses to file for 2015, should you prepare returns for 2016 through 2018? Explain.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 68% (19 reviews)
a No Because no return was filed the statute of limitations never runs But even if a return had ...View the full answer
Answered By
Muhammad Salman Alvi
Well, I am a student of Electrical Engineeing from Information Technology University of Punjab. Just getting into my final year. I have always been good at doing Mathematics, Physics, hardware and technical subjects. Teaching profession requires a alot of responsibilities and challenges.
My teaching experience started as an home tutor a year ago. When I started teaching mathematics and physic subjects to an O Level student. He was about 14 years old. His name was Ibrahim and I used to teach him for about 2 hours daily. Teaching him required a lot of patience but I had to be polite with him. I used to give him a 5 min break after 1 hour session. He was quite weak in basic maths and calculation. He used to do quite a lot of mistakes in his homework which I gave him weekly. So I decided to teach him basics from scratch. He used to say that he got the concept even if he didn't. So I had to ask him again and again. I worked on his basics for a month and after that I started taking a weekly test sesions. After few months he started to improve gradually. Now after teaching him for about a year I can proudly say that he has improved alot. The most important thing was he managed to communicate all the difficullties he was facing. He was quite capable and patient. I had a sincere desire to help him reach to its full potential. So I managed to do that. We had a very good honest relationship of a student and a teacher. I loved teaching him as a tutor. Now having an experience of one year teaching I can read students quite well. I look forward to work as an online tutor who could help students in solving their all sort of difficulties, problems and queries.
4.90+
29+ Reviews
43+ Question Solved
Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Question Posted:
Students also viewed these Business questions
-
In March 2015, Jim asks you to prepare his Federal income tax returns for tax years 2012, 2013, and 2014. In discussing this matter with him, you discover that he also has not filed for tax year...
-
In March 2017, Jim asks you to prepare his Federal income tax returns for tax years 2014, 2015, and 2016. In discussing this matter with him, you discover that he also has not filed for tax year...
-
In March 2017, Jim asks you to prepare his Federal income tax returns for tax years 2014, 2015, and 2016. In discussing this matter with him, you discover that he also has not filed for tax year...
-
Addie's grandfather has left them a trust and the value of the money they receive depends on the age choose to collect this gift of money. Their options are given in the table below. Payoff at age 19...
-
In what ways might a structural adhesive offer manufacturing ease or reduced manufacturing cost?
-
The following data represent the marital status of males 15 years old and older in the U.S. in 2020. (a) Determine the number of males 15 years old and older who are widowed or divorced. (b)...
-
Steven Sanchez worked as a warehouse employee for Gruma Corporation. In December 2016, Sanchez was presented an arbitration agreement during a meeting with George Tate, the human resources manager...
-
Georgia Pacific, a manufacturer, incurs the following costs. (1) Classify each cost as either a product or a period cost. If a product cost, identify it as a prime and/or conversion cost. (2)...
-
Water is flowing through a pipe with a constriction. the area of the narrow section has an area that is 1.4 times smaller than the are of the wide section. If the velocity of the (incompressible)...
-
Write a Python class that extends the Progression class so that each value in the progression is the absolute value of the difference between the previous two values. You should include a constructor...
-
Go to the U.S. Tax Court website (ustaxcourt.gov). a. What different types of cases can be found on the site? b. What is a Summary Opinion? Find one. c. What is a Memorandum Opinion? Find one. d....
-
For tax year 2016, the IRS assesses a deficiency against David for $500,000. Disregarding the interest component, what is Davids penalty if the deficiency is attributable to: a. Negligence? b. Fraud?
-
Returning to Section 9.1, let where the wavefront shapes are not explicitly specified, and E Ë 1 and E Ë 2 are complex vectors depending on space and initial phase angle. Show that the...
-
Many companies use contra - revenue accounts to describe a reduction in Service Revenue ( also Sales Revenue ) . These accounts include Sales Discount, Sales Allowance, and Sales Returns. How would...
-
Suppose that someone's taxable income is $ 4 2 , 6 0 0 they're married but finally separately due to their partners immigration status calculate their taxes and show your work.
-
Discuss ways in which you could apply the lessons learned in Chapter 13 to improve your ability to read people. Provide specific examples to support your response.
-
Exchange across International Borders The success of an economy in effectively employing the four factors of production determines how well that economy performs relative to its potential and...
-
"The Courts will intervene in certain exceptional judicial circumstances as a matter of justice by applying the concept of "Lifting the Corporate Veil" where the Courts have totally disregarded the...
-
Probably the best way to use the employee performance evaluation and reward system to motivate members is to make team participation a key part of the employee's personal evaluation. This makes the...
-
What are current assets and current liabilities? How are they different from non-current assets and non-current liabilities?
-
Howard buys wrecked cars and stores them on his property. Recently, he purchased a 1990 Ford Taurus for $400. If he can sell all of the usable parts, his total proceeds from the Taurus will be over...
-
Your client is a new partnership, ARP Associates, which is an engineering consulting firm. Generally, ARP bills clients for services at the end of each month. Client billings are about $50,000 each...
-
Your client is a new partnership, ARP Associates, which is an engineering consulting firm. Generally, ARP bills clients for services at the end of each month. Client billings are about $50,000 each...
-
A ticket is sold for a flat rate of $ 5 8 . 0 0 and the customer pays the $ 5 8 . 0 0 at the time of the sale. What will be the general journal entry for the company selling the ticket at a sales tax...
-
How much will Kojo Mensah Enterprise be credited by Ghana Revenue Authority in the month of July 2 0 1 7 The following transaction occurred during the year 2 0 1 7 in the operations of Best - Buy...
-
Wiseman Inc. Manufacturing produces Health Drinks in a Manufacturing facility. The products are: Health Shake Pre - Work out Post - Work out Wiseman introduced a 4 th Product: Health bar, made from 3...
Study smarter with the SolutionInn App