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PLEASE HELP! Discussion Bob is completing his tax return as he does on an annual...

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Question

Accounting

PLEASE HELP!

Discussion

Bob is completing his tax return as he does on an annual basis. He owes money and tells his tax return preparer that his charitable contributions were $10,000 instead of the $2,000 he actually gave. Also, he values the car he donated to a charity at $8,000 instead of the $2,000 it was actually worth. His preparer represents him when the IRS audits his tax return. The IRS agent needs to determine which penalties to assess and whether or not to refer the case to Criminal Investigation.

Discussion Questions:

  1. Discuss the concept of "voluntary compliance" as it relates to our federal tax system.
  2. Compare and contrast the differences between civil and criminal penalties.
  3. Would you rather work as an IRS agent or as a tax practitioner? Please explain your answer.

Submission Requirements:

  • The discussion grade will be based on how thorough and detailed your posts are.
  • Your initial post must be published first, be at least 5 sentence in length, and answer the questions in detail.
  • You must post at least TWO replies to other students' posts.
  • Your replies must be a minimum of three sentences long and, again, must be meaningful and detailed.
  • Proofread the content of your posts before making them public. Proper grammar and sentence structure are expected.
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