Last year, Ned's property tax deduction on his residence was $22,500. Although he lives in the same house, he tells his CPA that this year's taxes will be only $7,500. The CPA can use this estimate in computing Ned's itemized deductions under the Statements of Standards for Tax Services.

Question

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The CPA should verify the significant decrease in property tax deduction as it deviates substantially from the previous year, ensuring accuracy and compliance with tax laws and standards.

Last Year, Ned's Property Tax Deduction on His Residence Was