A Tax Practitioner Can Avoid IRS Penalty Relating to a Tax

question 16

Multiple Choice

A tax practitioner can avoid IRS penalty relating to a tax return position:

• A) if the position is frivolous and disclosed on the tax return.
• B) if the position has a realistic possibility of being sustained by the IRS or courts.
• C) if there is substantial authority to support the position.
• D) if the position has a reasonable basis and is not disclosed on the tax return.
• E) None of these.

Recognize the importance of follow-up with all interviewees and how to communicate post-interview decisions.

Learn how to assess applicant fit within the existing team and organizational culture.

Understand strategies to minimize bias and the halo effect in decision-making during the interview process.

Understand the conceptual basis and consequences of commons dilemmas.

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Definitions:

National Economy

The system of economic activities and the total wealth produced within a nation, including the production, consumption, and distribution of goods and services.

International Test

An assessment conducted across various countries aimed at evaluating and comparing the capabilities, knowledge, or skills of participants on a global scale.

Educational Achievement

The accomplishment or attainment of academic goals, typically measured through grades, diplomas, and degrees.

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Programs or initiatives that are funded or backed by the federal government.