What to Do When Clients Attempt to Fudge the Numbers on Their Tax Returns

Overview

To believe or disbelieve ... that is the question often faced by CPAs. For tax practitioners, this question is especially nettlesome as it pertains to the proper reporting of income and the correct reporting of deductions for business gifts, business meals, auto expenses, etc., on clients' income tax returns.

Highlights

• Should Tax Practitioners be Skeptical?
• Professional Skepticism as Diligence
• Educating Clients About Their Risks, and Your Risks
• Case Studies Involving Client Attempts to Fudge the Numbers

Prerequisites

None

Designed For

Tax Practitioners and Consultants

Objectives

• Recognize income and deduction categories that are sometimes "fudged" by clients
• Refer clients to various risks associated with government tax audit techniques and taxpayer penalties
• Benefit from case studies involving taxpayers who chose to understate income and overstate deductions on their tax returns

Preparation

None