TAXATION-WEEK ONE DISCUSSION QUESTIONS
- Describe the differences between the three types of audits in terms of their scope and taxpayer type.
- When selected by IRS for an audit, can / should the taxpayer (T/P) ignore the IRS inquiry?
- Simon just received a 30-day letter from the IRS indicating a proposed assessment. Does he have to pay the additional tax? What are his options?
- What are some common examples of the timing strategy?
- Emily and Tony are recently married college students. Can Emily qualify as her parents’ dependent? Explain.