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Federal Income Tax MCQs

Lloyd is a CPA who prepares tax returns. Eddie, an Enrolled Agent, also prepares taxes. If both men submit form 2848 (Power of Attorney) for their clients, and indicate they can receive their client's refund check, who is authorized to cash or endorse the check?

Lloyd because his CPA license enables him to act in his clients best interest, which includes cashing or endorsing refund checks.

Neither. No tax preparer is allowed to cash or endorse refund checks for their clients, regardless of having a power of attorney for the client.

Eddie because he is an Enrolled Agent, and such enrollment allows.

Both can do so because of their certification status and power of attorneys signed by their clients.

Answer

Correct Answer: Neither. No tax preparer is allowed to cash or endorse refund checks for their clients, regardless of having a power of attorney for the client.

Explanation:

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Federal Income Tax Skill Assessment

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