According to the PCAOB, which of the following tax services would impair independence? A. Tax consulting B. Providing a tax opinion where the opinion is not considered an aggressive position or listed transaction by the IRS C. Tax returns prepared by BD0 Spain for the controller's dependent children living in Spain while attending school ahr
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- Which is NOT a proper exercise of administrative feasibility?a. Electronic Tax Payment System (eTPS)/Land Bank Remittance System (LBRS)b. Payment of tax thru credit/debit/prepaid cards/G-Cashc. Requirement to all taxpayers to file tax returnsd. Substituted Filing of Qualified Compensation Income EarnersThe AICPA has issued standards for CPAs in tax practice, called Statements on Standards for Tax Services (SSTS). Download the Statement on Standards for Tax Services No. 1-7Links to an external site.. What does the SSTS say about a CPA relying on information supplied by the client (see SSTS #3)? Are estimates ever permitted to be used in preparing a tax return (see SSTS #4)?Tax accounting is a service offered by public accounting firms that involves both tax planning and which of the following? Multiple Choice A.)tax compliance B.)tax avoidance C.)tax elimination D.)tax payment. Please explain incorrect and correct option without plagiarism
- When a CPA knows that a tax client has skimmed cash receipts and not reported the incomein the federal income tax return but signs the return as a CPA who prepared the return, theCPA has violated which of the following AICPA rules of conduct?a. The Confidential Client Information Rule.b. The Integrity and Objectivity Rule.c. The Independence Rule.d. The Accounting Principles RuleAll tax practitioners who prepare tax returns for a fee are subject to whichof the following?I. IRS Circular 230 II. AICPA Code of Professional Conduct III. Statements on Standards for Tax Services IV. American Bar Association Code of Professional Conduct Only statement I is correct.Statements I, II, and III are correct.Statements II and III are correct. Statements II and IV are correct. Statements I, II, III, and IV are correct.According to the AICPA's Statements on Standards for Tax Services, what duties does the tax practitioner owe the client? (If an input field is not used leave the input field(s) empty.) not to disclose tax-related errors without the client's consent. to inform the client of corrective measures to be taken. C to inform the client of errors in a previously filed tax return. to inform the client of how the client can avoid a penalty through disclosure. to inform the client of the potential adverse consequences of a tax return position. to inquire of the client when information provided by him or her appears incorrect, incomplete, or inconsistent on its face. to inquire of the client when the client must satisfy conditions to take a deduction. to instruct the client to file an extension based on refunds that are expected. to instruct the client whether or not to file a tax return.
- A former longstanding client of an accounting practice is being investigated by the tax authorities. The former client requests the assistance of the practice in representing them. The client promises that, if the outcome is favourable, he will pay a substantial fee and re-appoint the practice as his accountants in the future. (Any tax payable will be deducted from the fee.) Which THREE threats to the fundamental principles are involved? OSelf-review OSelf interest O Intimidation OFamiliarity AdvocacyPlease choose one of the duties of a tax professional practicing before the IRS, discussed in the Treasury Department Circular 230 and: Describe the concepts and objectives of the duty. Discuss how a tax professional needs to conduct themselves in order to comply with the responsibility. Explain what kind of challenges and pressure an accountant could face in complying with the responsibility.Your Group has formed a tax advisory firm. One of your clients in consideringinvesting in the country assigned to your Group. The company has requestedgeneral tax advice in respect of the VAT regime in Trinidad and Tobago. YourGroup is required to provide this advice. Additionally, the company has requestedhigh -level tax advice on the other taxes in that country that they may need toconsider.
- All questions are based on tax practitioners registered with the South African Revenue Services: True or false Membership of an RCB does not equal to the registration as a tax practitioner? The sharing of login credentials is an acceptable manner in which to conduct business as a tax practitioner? A serious tax offence of 6 years ago will prevent an individual from registering as a tax practitioner at SARS? Registered representative activation cannot be done via e-filling. The registered representative must go into a SARS branch. As a tax practitioner you can submit a null return for a client even if there was trade conducted for the said period? A person who has a criminal record involving dishonesty and wishes to register with a RCB as a tax practitioner may do so if they inform their RCB about their criminal status? A tax practitioner can be registered as the registered representative if no special circumstances exist? To request deferred payment arrangement, a tax prayer…Discuss the ethics requirements for tax practitioners. Please discuss both the AICPA Statements of Standards for Tax Practice AND IRS Circular 230. How do ethics requirements differ for tax practice as compared to audit practice? Compare and contrast these.Whilst looking at the income tax returns applicable to corporate entities, Jackie was curious why there is a need for tax-exempt entities to still file for their ITR given that they are already exempted. Being a lamb to your friend, which of the following would best provide reason for such? A. for assessment of the correctness of mathematical computations made by taxpayer B. for comparison of figures reported on their financial statements C. for conversion of the supposed tax burden to filing burden D. for possible tax exposures from the conduct of unrelated activities