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Posted: March 24th, 2022
Assignment: The memo should be about 2 pages.
Task: The memo should be about 2 pages.
CLIENT C: Shopper C acquired a notification that he’s being examined by Workplace Audit. He has a gathering scheduled with IRS in two weeks. The letter he acquired from IRS indicated that they may be inspecting his 2019 tax return. Particularly, he’ll be inspecting the next and requests the next info:
1. Rental earnings – copies of deposit slips for rental earnings.
2. Rental bills:
a. Depreciable belongings bought – copies of bill for buy and proof of cost.
b. Rental repairs and upkeep – copies of payments and cancelled checks.
That is all of the letter signifies with regard to the subject material of the audit.
QUESTIONS:
1. Shopper C feels assured that he can persuade the IRS of something. Do you have to enable your shopper to hitch you on the examination? If that’s the case, why? If not, why not?
2. For gadgets paid with bank cards C has copies of bank card statements however no receipts. Because the assertion displays the payee, quantity and the date of the transaction do you’re feeling that is enough? If not why not?
three. Because the shopper has a separate checking account for rental property, shopper want to deliver all of the financial institution statements and all of the rental receipts. Is that this advisable? If not, why not?
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