After the Completion of an Audit, the Taxpayer Has 90

question 11

Short Answer

After the completion of an audit, the taxpayer has 90 days to petition the Court to modify the proposed tax due.

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Definitions:

Real Estate

Property consisting of land and the buildings on it, along with its natural resources, generally classified as residential, commercial, or industrial properties.

Desirable Neighborhoods

Areas that are highly sought after by homebuyers and renters due to factors like safety, amenities, good schools, and proximity to employment opportunities.

Conspicuous Consumption

The purchase and use of goods and services to publicly display wealth rather than to meet basic needs.

Thorstein Veblen

An American economist and sociologist best known for his theory of the leisure class and criticisms of capitalism.