You are a staff accountant for a local CPA firm, Meyers and

Meyers, LLP. One of your clients, Pau...

You are a staff accountant for a local CPA firm, Meyers and
Meyers, LLP. One of your clients, Paula Evans, contacted you in
February of 2016 about a new partnership she formed with four
others. The partnership, Wildwood
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cpa-firm-meyers-and-meyers-llp-one-of-your-clients-pau

You are a staff accountant for a local CPA firm, Meyers and
Meyers, LLP. One of your clients, Paula Evans, contacted you in
February of 2016 about a new partnership she formed with four
others. The partnership, Wildwood Acres Partnership, was started in
the middle of 2014 and reports on a calendar year basis (the tax
year ends on December 31). Unfortunately, this was a little late
since the 2014 partnership return was due on April 15, 2015. Paula
provided the information and your office promptly prepared the
return in late February, 2016. The transmittal letter to Paula
included a paragraph warning her that the IRS would probably assess
penalties for late filing. Penalties for partnerships that file
late are $195 per per partner, per month (or any part thereof)r. On
March 29, 2016, Paula called and said she received a late filing
penalty notice assessing $10,725. She faxed the notice to you for
review. Based on your review, the assessed amount is correct.

Facts regarding the partnership:

1. All five partners are individuals and US citizens.

2. All five partners timely filed their 2014 individual income

tax returns in September 2015 and included their share of
partnership taxable income.

3. All five partners are equal owners of the partnership Paula

wants you to respond to the IRS notice and request relief from the
penalty.

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 Assignment: Prepare a response letter to the IRS requesting
abatement of the penalties based on Rev. Proc. 84-35. Be sure and
reference any attachments you would include with the response
letter, even though you won’t be submitting the attachments on
Turnitin. Upload your word or pdf file using Turnitin on
Blackboard. No late submissions!

GET THE ANSWER>> https://solutionlly.com/downloads/you-are-a-staff-accountant-for-a-local-

cpa-firm-meyers-and-meyers-llp-one-of-your-clients-pau

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