I’m working on a accounting question and need an explanation to help me understand better.
Identify and prepare a list of all the items on the tax return that appear to be strange, unusual, questionable, excessively large or excessively small in relation to other information on the return, etc. To do this, provide a one or two sentence explanation for each such item. That is, tell me why you identified the item & what the item tells you about the taxpayer (meaning, about his assets, about his income, about his standard of living/life style, etc.) Also, tell me if you are drawing any inferences from the dollar value of the item, how it is labeled/described on the tax return, how it is being reported or deducted.
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