The "90-day" letter gives the taxpayer the opportunity to pay a proposed IRS tax adjustment or file a petition in the U.S. District Court to contest the adjustment and hear the case.
Answer the following statement true (T) or false (F)
False
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Which of the following is not a problem usually associated with the flat-file approach to data management?
a. data redundancy b. restricting access to data to the primary user c. data storage d. currency of information
Adam is back in the job market after five years of employment at his former company. What should he emphasize most in his résumé?
a. His work experience b. His education c. His salary history d. His professional affiliations
Gage is trying to get his staff to take on an extra case, pro bono. He thinks that it is important to give back to society and to take care of his community. He appeals to his staff by explaining the positive feelings that they will feel by giving back to their community and how it is the morally right thing to do. Which tactic is Gage using to influence his staff?
a. Personal appeals b. Rational appeals c. Coalition building d. Inspirational appeals
An S corporation reports ordinary income of $120,000 after deducting $20,000 for Fred's salary. Fred and his three children own the S corporation equally. The IRS determines Fred's stock transfer to his three children is not bona fide. Reasonable compensation for Fred is $40,000. How much of the S corporation's $140,000 pre-salary income must be reported by Fred?
A. $140,000 B. $40,000 C. $100,000 D. $50,000