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AfilCa [17]
3 years ago
6

Tax preparers who obtain written conflict of interest waivers from clients are required to retain the document for at least:____

______.
Business
1 answer:
sertanlavr [38]3 years ago
4 0

Answer:

The correct answer is: 36 months or 3 years.

Explanation:

The Department of Treasury Circular 230 establishes the regulations for all those professionals who represent individuals before the Internal Revenue Service (<em>IRS</em>) such as <em>lawyers </em>and <em>accountants</em>. In section 10.29 there is a retention requirement in front of conflict of interest that implies waivers or consents to be retained by the tax professional for <em>3 years post-representation</em> and made available to the IRS if requested.

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2019 gain for 4,000

Explanation:

purchase at 715,000

December 31th 713,500

adjusting entry december 31th

loss on investment          1,500 debit

    marketable securities                     1,500 credit

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cash                                717,500 debit

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3 years ago
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Answer:

A

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2 years ago
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3 years ago
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