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Chapter 02 Tax Compliance, the IRS, and Tax Authorities




Question;94.;The IRS has;recently completed its audit of Lorene's corporation. As a tax novice, she;has very little understanding regarding the audit process and what happens;next. Describe the post-audit process for Lorene and identify her;options.;95.;Mel recently;received a 30-day letter from the IRS. Although his tax return being audited;has several potential large issues (potential tax consequences of $70,000 -;$80,000), the IRS agent auditing his return only identified one item that;will require a more modest adjustment ($10,000). Mel feels strongly that the;$10,000 adjustment would not hold in court and was surprised that the IRS;agent did not identify some of the other potential larger issues. What are;Mel's choices with the 30 day letter and what factors should influence his;decisions?;96.;Kim has decided;to go to litigate a tax issue with the IRS. Describe the trial level courts;that Kim may use to litigate the case.


Paper#55168 | Written in 18-Jul-2015

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