The tax law is complicated and the right answer is not always clear. How sure do you have to be before you can tell a client it is okay to take a deduction, exclude income or characterize income as capital gain? Can you accept what a taxpayer tells you, or do you have to audit a taxpayer’s records? When can the taxpayer be subject to penalties? And, when can you as the advisor be subject to penalties?
Click here for more information.
