A Tax Return Preparer May Prepare a Tax Return Solely

question 6

Multiple Choice

A tax return preparer may prepare a tax return solely based on information furnished by a client:

• A) If the information appears to be reliable on its face
• B) Even if the information appears to be inconsistent with reality
• C) Even if the preparer knows facts that would make a person question the authenticity of the furnished information
• D) As long as the taxpayer agrees in writing to accept full responsibility for the authenticity of the furnished information

Identify and explain the types and requirements of performance in contract fulfillment.

Comprehend the role of conditions in contract enforcement and performance.

Understand the legal remedies available for breach of contract, including specific performance and damages.

Appreciate the concept of tender in fulfilling contractual obligations.

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Definitions:

State of Incorporation

The specific state within the United States in which a company is legally registered to do business.

Statutory Close Corporation Supplement

A legal provision allowing a closely held corporation to operate with less formal procedures than are required of other corporations.

Fewer than 100 Shareholders

A characteristic of some business entities, like S-corporations, which limits the number of shareholders to maintain eligibility for certain tax benefits.

Model and Revised Acts

Model and Revised Acts are standardized legislative drafts provided as a suggestion for lawmaking bodies to adopt or adapt, aiming to create uniformity across jurisdictions.