Contingency Fee Arrangements Are Always Allowed in Tax Matters If

question 13

Multiple Choice

Contingency fee arrangements are always allowed in tax matters if the amount of the fee an accountant is entitled to receive depends on:

• A) A determination by an IRS Administrative Board
• B) An "all or nothing" determination
• C) A percentage of the taxes saved
• D) The accountant's testimony in court being competent and persuasive to the judge or jury

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Definitions:

Corporate Securities

Financial instruments such as stocks and bonds issued by corporations to raise capital.

Professional Corporation

A type of corporate entity for which many states offer incorporation options, designed for professions where the practitioners require a license, like doctors or lawyers.

Law Firm

A business entity formed by one or more lawyers to engage in the practice of law, providing legal services to clients.

Privately Owned

Properties or businesses that are owned by individuals or corporations rather than by the government or public.