Your client wants to deduct commuting expenses on his tax return. You explain to the client that there is no legal authority allowing this deduction. The client, however, continues to insist on this action. What guidance do the Statements on Standards for Tax Services provide in this dilemma?
What will be an ideal response?
According to Statement on Tax Standards, the CPA should explain to the client that this action is a violation of the tax law and would trigger IRS penalties. If the client insists on the deduction, the CPA should consider withdrawing from the engagement.
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Figure 4-1In Figure 4-1 above, B represents which stage of the consumer purchase decision process?
A. financial consideration B. problem recognition C. purchase decision D. alternative evaluation E. information search
Which of the following is most likely a consequence of the Great Recession of 2008 to 2009?
A) more free-spending on expensive products B) more demand for credit and debit cards C) more sensible and mindful consumption D) less interest in frugality and value E) less emphasis on sustainable marketing
The retail method of estimating inventory uses a ratio computed by dividing retail value of the goods available for sale by the cost of goods available for sale
Indicate whether the statement is true or false
Franchising is an alternative to pursuing growth through mergers and acquisitions.
Answer the following statement true (T) or false (F)