Which of the following is CORRECT with respect to a file memo?
A) It should include only the strengths of the client's position.
B) It should include a list of the tax issues that are in dispute and a matching conclusion for each identified issue.
C) It should be prepared only in closed-fact situations.
D) All of the above.

Question

Quizplus · Accepted Answer

A file memo should include a list of the tax issues that are in dispute and a matching conclusion for each identified issue. This helps to provide a clear understanding of the issues at hand and the possible outcomes for each. Including only the strengths of the client's position or preparing the memo only in closed-fact situations would not provide a comprehensive analysis of the tax issues.

Which of the Following Is CORRECT with Respect to a File