Identify Which of the Following Statements Is True

question 95

Multiple Choice

Identify which of the following statements is true.

• A)The 90-day letter offers the taxpayer the choice of paying the tax assessed or filing a petition refuting the tax assessment with the Tax Court.
• B)A taxpayer can choose to initiate tax litigation in a U.S. district court, the Tax Court, or a Court of Appeals.
• C)The IRS cannot raise a new tax issue after issuance of the Statutory Notice of Deficiency (90-day letter).
• D)All of the above are false.

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Definitions:

Competencies

The skills, knowledge, and abilities that enable an individual or organization to perform effectively.

Opportunity Recognition

The process by which entrepreneurs identify and evaluate potential business opportunities or ideas.

Tolerance

The capacity to accept or endure differences, variations, or opposing viewpoints.

Aversive

Something unpleasant that is avoided; often used in psychology to refer to stimuli that individuals seek to avoid.