CHP. 1 HOME WORK

CHP. 1 HOME WORK - ASMA ASMA JAMSHAID BUSI 604 Date:...

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ASMA ASMA JAMSHAID BUSI 604 Date: 01/28/12 Home Work Chapter# 1 Question# 36 Assess the probability of an audit in each of the following independent situations. Answers. a. Linda has highly awarded amount $3.5 million. Audit-individual’s itemized deductions are excess of norms establish. b. Audit-individual’s subject to most of cash receipts. c. Audit due because of large amount of adjusted gross income. d. Audit is due subject valet parking has cash tips income. e. if once audit is done then there are highly chance of audit again f. Audit utilization of abusive tax shelter. g. No Audit. The statement does not indicate that he will be involved in tax evasion h. There is less or no chance of audit due to he has only one source of income. 1
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ASMA Question #40 Lo. 5 Regarding the statue of limitations on additional assessment of tax by the IRS determine the applicable period in each of the following situations. Assume a calendar your individual with no fraud or substantial omission involved. Answer. a.
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CHP. 1 HOME WORK - ASMA ASMA JAMSHAID BUSI 604 Date:...

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