The "Reasonable Possibility of Success" Standard Commonly Is Associated with "1

question 32

Multiple Choice

The "reasonable possibility of success" standard commonly is associated with "1 out of 3" odds of success.These odds refer to the likelihood of success:

• A) After the IRS has detected and challenged an asserted tax position
• B) Taking into account the fact that the IRS may not detect a questionable tax position
• C) Taking into account the fact that the IRS may detect a questionable tax position, but not challenge it due to limited government resources
• D) Of the taxpayer achieving the beneficial tax savings desired from the asserted position

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Definitions:

Ethnicity

A social group that shares common and distinctive culture, religion, language, or heritage.

Latino

A term commonly used in the United States to refer to people of Latin American origin or descent, it is often used interchangeably with "Hispanic" though there are distinctions in some contexts.

Catholic

Pertaining to the universal Christian church or its beliefs, practices, and traditions rooted in the teachings of the Roman Catholic Church.

Indwelling Urinary Catheter

A catheter that remains inserted in the bladder for continuous urine drainage, usually for patients who are unable to urinate unassisted.