REG – use of estimates

  • This topic has 0 replies, 1 voice, and was last updated 10 years ago by Tux.
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  • February 17, 2015 at 8:42 pm #192094
    Tux
    Member

    The general rule is – It is not required to disclose the use of estimates when preparing tax returns.

    However, there seem to be situations where it IS required (or Highly recommended) to disclose the fact that estimates were used.

    What are those situations?

    I’m confused.

    FAR - 86 - 2/27/14
    AUD - 75 - 5/29/14
    BEC - 80 - 8/31/14
    REG - 89 - 2/27/15
    Praise Jesus! I'm done!!

    Study resources:
    Becker
    Wiley test bank

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