For the 2018 Tax Returns,indicate When the Statute of Limitation

question 3

Essay

For the 2018 tax returns,indicate when the statute of limitation expires and why.
a.Phoenix filed his tax return on February 28,2019.
b.Jill and Randy filed their tax return on August 16,2019.
c.Although required to file,Catherine chose not to file a tax return this year because she was expecting a tax refund and could not pull together all the information needed to file the return.
d.Jerry filed his tax return on May 22,2019 but has accidentally underreported his gross income by 30%.

Recognize the use of passive and active voice in sentence construction and its impact on clarity and engagement.

Apply principles of organization in writing persuasive and bad-news messages.

Understand the concept and significance of opportunity cost.

Differentiate between the cost structures of manufacturers and merchandisers.

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Definitions:

Net Income

The remaining profit for a company after subtracting total expenses, taxes, and costs from its total income.

Items Count

A measure or total of individual things or components.

Physical Inventory

The process of counting all physical goods and materials a company has in stock at a specific point in time.

Items Count

The process of tallying items in inventory, usually for the purpose of ensuring accuracy in stock levels and financial records.