Learning Goal: I’m working on a accounting writing question and need guidance to help me learn.
Prepare an email response to the following emails. Assume you are a CPA working for a local public accounting firm called Allen, West and Dove, LLP. Your firm provides tax and accounting services including audit, reviews and compilations. There are three partners and a professional staff of sixteen. Financial statement reviews typically cost from $6,000 to $18,000. Individual income tax return preparation typically ranges from $1,500 to $3,500 while business returns range from $2,500 to $12,000.
From: William Davis
Sent: Monday, March 19, 20XX 8:27 AM
To: <your name>
Subject: CPA Services
Andy Walters gave me your name. I have a small computer service consulting business and am looking for a CPA firm that can help with accounting and tax issues. My company is an LLC and I have two partners. We have four employees. Our bank requires a financial statement review each year. We need the review and our business tax return completed by April 15th. We would also want the three partner’s individual tax returns prepared by your firm.
If you are interested in working with us can you give me some information about your firm? Can you meet the April 15th deadline? Can you provide a fee estimate?
I look forward to hearing from you.
Computer Technologies LLC
From: Angela Boyd
Sent: Tuesday, March 19, 20XX 9:10 AM
To: <your name>
Hi <your name>. Hope you are doing well. We purchased a commercial rental building last year and our tenant paid six months’ rent in advance in November of last year. The rent covered November and December of last year and the first four months of 20XX. I appreciated getting the cash up front but now that I have had time to think about it, will this cause a tax problem for us? How do we treat this prepaid rent for tax purposes?
Part 1 requirement: Write responses to each of the three emails in Word. These will be combined with your submission for Part 2 into a single document (see below).
ICW Part 2 – IRS Response Letter
Important Note: Please use the accompanying IRS Tax Notice (located In the ICW #6 Module) as the notice to which you will write your response letter.
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
partner, per month (or any part thereof).
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
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.
Part 2 requirement: 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.
Important: Combine the three email responses from Part 1 with your response letter from Part 2 Into a single document (Word or pdf) and submit via Turnitin. Your document should include each email response on a separate page (page 1 – response 1, page 2 – response 2, etc., followed by your IRS response letter on a separate page(s).
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more