Reed prepares federal corporate income tax returns for Shopping Mall Inc. and other firms. Under the Internal Revenue Code, with respect to an understatement of a client's tax liability, Reed may be liable for

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Under the Internal Revenue Code, tax preparers like Reed can be held liable for any understatement of a client's tax liability due to either negligent or willful misconduct. This includes mistakes made out of carelessness as well as intentional acts to understate tax liability.

Reed Prepares Federal Corporate Income Tax Returns for Shopping Mall