Bob, an IRS tax law-certified volunteer preparer, told the taxpayer that cash income does not need to be reported because the IRS does not know about it. Bob indicated NO cash income on Form 13614-C. Bob prepared a tax return excluding the cash income. Jim, the designated quality reviewer, was unaware of the conversation and therefore unaware of the cash income and the return was printed, signed, and e-filed. Who has violated the Volunteer Standards of Conduct?

Answers

Answer 1
Answer:

Answer:

Bob violated the Volunteer Standards of Conduct

Explanation:

Publication 4961 of the Internal Revenue System (IRS) establishes the Volunteer Standards of Conduct and Ethics Training on 2019 returns for Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) volunteers.

This IRS publication specifically prohibits the following:

         "As a volunteer in the VITA/TCE Programs, you must:

              ... 4. Not knowingly prepare false returns.  ..."

Bob knowingly helped a taxpayer to prepare a false report.


Related Questions

Icons, arrows, shapes, and lines are considered what type of graphics?A. Infographics B. Explanatory C. Charts D. Entertaining
In the context of advertising, what is one advantage of less expensive ad space on satellite and cable systems? a. It reaches a broader audience. b. It allows for longer commercials. c. It provides better image quality. d. It is cost-effective for small businesses.
It took the national government many years to implement just a fraction of the _______.
Why is simple interest useful for planning parts of your financial future?a. Simple interest can endure unforeseen economic changes by fluctuating. b. Simple interest generates more money than any other source of income. c. Simple interest grows more quickly if you invest in it longer. d. Simple interest is very regular and can be calculated in advance.
Recording a deed: guarantees ownership protects the interests of the purchaser eliminates prior liens perfects the instrument if it was improperly executed________________

Rugged Bicycles, Inc. collects 25% of its sales on account in the month of the sale and 75% in the month following the sale. If sales are budgeted to be $400,000 for March and $450,000 for April, what are the budgeted cash receipts from sales on account for April?

Answers

Answer:

$412,500

Explanation:

March

Cash receipts from sales on account for April = $400,000 * 75%

Cash receipts = $300,000

April

Cash receipts from sales on account for April = $450,000 * 25%

Cash receipts = $112,500

Total Cash receipts = Cash receipts from sales on account from March + Cash receipts from sales on account from April

Total Cash receipts = $300,000 + $112,500

Total Cash receipts = $412,500

On august 1, harvey company offered to pay $13,000 for equipment that was advertised as being sold for $19,000 by carrone company. the equipment had a retail value of $23,000 on that day. on august 10, carrone company offered to sell the equipment for $14,700, and harvey company agreed to buy it at that price. at what value will harvey company record the equipment on the books?

Answers

Answer: Harvey company will record the equipment at $14,700 is its books.

We usually record equipment at the actual price at which it was bought. Even though Harry company was willing to pay only $13,000, it actually went ahead and paid $14,700 to purchase the equipment.

We don’t consider the retail price here, since Harvey company did not buy the equipment from the retail market.

In the advertisement, Carrey Company probably put a value of $19,000 (by considering the retail rate) to see the market response to buy the at that price. So, we don’t consider that either.

A person who believes strongly in the use of fundamental analysis to choose a portfolio of stocks a. almost always chooses to hold index funds in his or her portfolio rather than actively-managed funds.
b. is spending his or her time wisely if the efficient markets hypothesis is correct. econ

Answers

Correct question: A person who believes strongly in the use of fundamental analysis to choose a portfolio of stocks

A. has a better chance of outperforming the market if stock prices follow a random walk than if they do not follow a random walk.

B. almost always chooses to hold index funds in his or her portfolio rather than actively-managed funds.

C. is interested in the likely ability of a corporation to pay dividends in the future.

D. is spending his or her time wisely if the efficient markets hypothesis is correct.

Answer:

C, is interested in tthe likely ability of the corporation to pay dividends in future.

Explanation:

Fundamental analysis is the evaluation of the value of an asset and its future price as a result of some factors.

Fundamental analysis is used to determine the value of a stock based on its ability to dividends, expected final sale and the ability of the corporation to pay dividends.

In simple term, fundamental analysis is the analysis of a stock to know if it will yield profits (dividends) or not and this in turns help to decide whether to buy up such stock or otherwise.

I hope this helps.

Some of the money that people deposit into a bank eventually becomes an injection into the economy when the bank_______?A.)charges interest
B.)makes loans
C.)receives additional deposits

Answers

Some of the money that people deposit into a bank eventually becomes an injection into the economy when the bank : B. Makes loans

In the Banks . there are some people who deposit money and there are some people who borrow money.

The bank will use the money that people deposit to give a loan to the one that want to borrow the money. so technically, people who deposit money are the one who make an injection within the economy

The correct answer is

B- Makes Loans

:)

If you start to feel sleepy when driving you should __________

Answers

If you start to feel sleepy when driving you should stop, rest, and change drivers if possible.

If you begin to feel drowsy while driving, drink one to two cups of coffee and pull over for a brief 20-minute nap in a safe location, such as a lit, marked rest stop.

If you get drowsy while driving or observe any of the other warning signals described above, you should pull over as soon as possible. Pull into the next rest stop or any other safe, well-lit area where you may park without obstructing the traffic.

Therefore, if you begin to feel tired while driving, you should pull over, relax, and, if feasible, switch drivers.

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If you start to feel sleepy when driving you should pull over. It is very dangerous to drive when sleepy because you could easily fall asleep or not be paying enough attention to crash! 
Hope this helps! =)

Diversification is important in investing because...

Answers

Diversification in investing is important because it helps to spread risk across different assets and reduce volatility in a portfolio. By investing in a variety of assets, investors can potentially enhance long-term performance and capture growth opportunities.

Diversification helps to spread and manage risk in an investment portfolio. By investing in a variety of assets, such as stocks, bonds, real estate, or commodities, an investor can reduce the impact of any one investment performing poorly. This is because different assets tend to have different risk-return profiles and may perform differently under various market conditions.

Diversification can also help to smooth out the overall volatility of a portfolio. When one asset class is experiencing a downturn, another asset class may be performing well, which helps to balance out the overall returns.

Furthermore, diversification can provide opportunities for potential growth and stability. By investing in different sectors or geographic regions, investors can take advantage of varying economic cycles and potentially benefit from the growth opportunities in different markets.

Overall, diversification is important in investing because it helps to manage risk, reduce volatility, and capture potential growth opportunities, thereby potentially enhancing the long-term performance of an investment portfolio.

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Diversification is important in investing because the risk associated with the investment is lower.

Further Explanation:

Diversification is the strategy of investing in the market at a lower risk. In this strategy, the company, individual and corporation invest their savings in a different industry. So, the risk for the overall investment becomes lower. If the investor puts all of his savings in one industry and if that industry goes into depression, the whole saving of the investor has become futile. But the investor invests some of his money in two different industries and maybe one goes in depression then the loss occurred can be compensated by the profit from the other industry.  

Types of diversification:

  • Industry diversification: In this type of diversification, the investor invests in the different industries of the market.
  • Assets diversification: In this type of diversification, the investor invests in different instruments and assets of the company. For example, treasury bills, and mutual funds.
  • Geographic diversification: In this type of diversification, the investor invests in a different location. For example, home country investment and foreign country investment.  
  • Individual company diversification: In this type of diversification, the investor invests in a different company at his particular needs.  

Learn more:

1. Learn more about diversification

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2. Learn more about investment

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3. Learn more about risk-free rate

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Answer details:

Grade: Middle School

Subject: International business

Chapter: Diversification

Keywords: diversification, investing, because, the risk associated, lower risk, strategy, individual, compensate by profit, industry, assets, geographic.