A Paid Tax Return Preparer Estimated a Client's Charitable Contributions

question 15

Multiple Choice

A paid tax return preparer estimated a client's charitable contributions based on the taxpayer's statement that she "donates $20 cash every week to her church" and she "attends church weekly,without fail." Upon audit,the IRS discovered that this taxpayer never attends church and never made any charitable contributions.This tax return preparer is:

• A) Not subject to any fines or penalties
• B) Subject to civil fines, but not criminal penalties, if the character of these claimed deductions as estimates was adequately disclosed to the IRS with the word "estimate" or the abbreviation "est." appearing adjacent to the estimated item
• C) Subject to civil fines and potentially subject to criminal penalties
• D) Subject to having his license as a professional tax return preparer suspended for a short period of time

Identify the diverse roles of social workers in system maintenance, enhancement, and development.

Comprehend the historical evolution and significance of group work, direct practice, and clinical practice in social work.

Recognize the need for social workers to engage in research to evaluate and monitor the effectiveness of interventions.

Understand the importance of focusing on clients' present choices and influences from past relationships in problem-solving.

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Definitions:

Interest

The cost of borrowing money, typically expressed as a percentage of the sum borrowed, or the income earned from lending money.

Aging of Receivables

Aging of receivables is an accounting method used to estimate the amount of a company's accounts receivable that may not be collectible, represented in time categories based on the length of time the invoices have been outstanding.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of a company's receivables that may not be collected.

Bad Debt Expense

A ledger showing the value of invoices that a business anticipates it will not be able to receive payment for.