A tax preparer's high ethical standards protect taxpayers by option A: Providing them with an accurate return, including all tax benefits to which they are entitled.
A tax preparer's high ethical standards protect the tax preparer through except option D: Eliminating the need for preparer due diligence notes Mark for follow up
The statement that is accurate is option C: Beatrice may claim EITC based on Jordyn if her AGI was higher than Beth's and if she files first.
<h3>What are tax ethics?</h3>
Tax ethics, is known to be the term for the taxpayer's moral duty to pay taxes, is influenced by their interaction with the government as citizens. Tax evasion and tax ethics are frequently used synonymously.
When filing taxes, a tax preparer should take certain ethical considerations into account:
- Inform the appropriate third parties about the suspected fraudulent behavior.
- Inform the IRS and other tax authorities of the alleged fraudulent activities.
- Think about ending the engagement.
Therefore, one can say that anyone who prepares a tax return may now be held accountable for errors committed in filing a return for someone else due to a change in tax regulations that took effect more than ten years ago. An IRS monetary penalty may be imposed on a tax preparer who made errors on your return.
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Answer: $3.10
Explanation:
The actual price per pound of direct materials purchased in June will be calculated as follows:
Let the actual price be represented by x.
Material price variance is calculated as:
= (standard price-actual price) × actual quantity
-2000 = (3 × 20000) - 20000x
-2000 = 60000 - 20000x
20000x = 60000 + 2000
20000x = 62000
x = 62000/20000
x = 3.1
Therefore, the actual price per pound of direct material bought in June is $3.10
Answer:
$35,010,000
Explanation:
Calculation for the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project
Cash flow = $11.4 million + $22.6 million + $1,010,000
Cash flow = $35,010,000
Therefore the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project is $35,010,000
