Identify Which of the Following Statements Is False

question 48

Multiple Choice

Identify which of the following statements is false.

• A)A Technical Advice Memorandum may be requested by an IRS auditor if the transaction in question involves an especially complex tax issue.
• B)If the taxpayer being audited does not concur with the proposed assessment, the Service is required to send the taxpayer a 30-day letter detailing the proposed changes and the available appeals process.
• C)During the audit process, if the taxpayer concurs with the assessment of tax by the IRS and signs Form 870 (Waiver of Restrictions on Assessment and Collection of Deficiency in Tax), then the taxpayer is precluded from filing a refund suit.
• D)Interest on a deficiency accrues from the due date of the return through the payment date.

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Definitions:

Ethical Obligation

A moral duty or commitment to act in a certain way based on ethical principles, regardless of personal interests.

Confidential Information

Sensitive information not to be disclosed, often protected by law or agreement due to its personal, commercial, or governmental value.

Competent and Professional

Relates to possessing the required skills, knowledge, and ethical standards expected in a professional context.

Section 11

A specific section in various legal documents or statutes that might encompass different regulations or requirements depending on the context.