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Vikki [24]
1 year ago
10

The IRS has the authority to assess a monetary penalty to who

Business
1 answer:
asambeis [7]1 year ago
5 0

the IRS has the authority to impose penalties on tax professionals.

The IRS is the Internal Revenue Service unit for the United States, which is in charge of collecting federal taxes in the United States and overseeing the Internal Revenue Code, the principal section of federal statutory tax legislation.

It is a division of the Treasury Department and is run by the Commissioner of Internal Revenue, who is picked by the US President for a five-year term. Among the responsibilities of the IRS are helping taxpayers with their taxes, pursuing and resolving cases of incorrect or fraudulent tax files, and managing a number of benefit programs, including the Affordable Care Act.

To know more about IRS :
brainly.com/question/28298661

#SPJ1

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On the first day of the fiscal year, Shiller Company borrowed $63,000 by giving a five-year, 12% installment note to Soros Bank.
lidiya [134]

Answer:

Bank A/c  Dr           $63,000

  To Notes Payable                         $63,000

(Being the issuance of the installment note for cash is recorded)

Explanation:

The journal entry is shown below:

Bank A/c  Dr           $63,000

  To Notes Payable                         $63,000

(Being the issuance of the installment note for cash is recorded)

For recording this transaction, we debited the bank account as it increased the assets account and at the same time it decreased the liabilities so the notes payable is credited

8 0
2 years ago
Define black hole.......​
larisa [96]

Answer:

hope this helps

Explanation:

A black hole is a place in space where gravity pulls so much that even light can not get out.

8 0
3 years ago
Carol and Dave each purchase 100 shares of stock of Burgundy, Inc., a publicly owned corporation, in July for $10,000 each. Caro
tino4ka555 [31]

Answer:

See below

Explanation:

From the above information, we can deduce that the stock owned by Carol and Dave falls in value by $2,000 I.e ($10,000 - $8,000) ; it is to be noted that Carol solely has realised and recognized loss of $2,000.

Here, one of the cogent factors that determines whether a sale has taken place is if realization has been effected. Here, stock sold by Carol qualifies as a disposition while the decline in the value of stock sold by Dave does not qualify as disposition.

With regards to the foregoing, we can conclude that the federal income tax law treat the decline in the value of the stock differently for Carol and Dave.

8 0
3 years ago
The standard deviation of the market-index portfolio is 25%. Stock A has a beta of 1.80 and a residual standard deviation of 35%
kap26 [50]

Answer:

0.2925

Explanation:

Total variance = Systematic variance + Residual variance

= (β^2)Var(rM) + Var(e)

Where beta β= 1.80 and

residual standard deviation σ(e) = 0.35,

variance = (1.80^2)×0.25^2 + 0.3^2= .

=3.24 × 0.0625 + 0.09

= 0.2925

7 0
3 years ago
The firm will produce output in the short run only if the market price is at least equal to__________.
Alex777 [14]

The firm will produce output in the short run only if the market price is at least equal to the <u>average cost</u>.

In both the short run and the long run, rate equals marginal revenue. The firm must increase output so long as marginal sales exceed marginal fee, and reduce output if marginal sales is much less than marginal fee. earnings are maximized while marginal sales equal marginal fee.

Short-run price is determined by means of short-run equilibrium among call for and supply. deliver curve in the brief run under perfect opposition is a lateral summation of the quick-run marginal value curves of the company.

Learn more about Short-run price here: brainly.com/question/14537411

#SPJ4

4 0
1 year ago
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