False, the IRS require the taxpayer to use the same depreciation method on the tax return that is used in preparing financial statements.
What is taxpayer?
- A taxpayer refers to a person subject to pay a tax.
- Modern taxpayers can have an identification number, a reference number issued by a government to citizens.
- The term taxpayer usually defines the one who pays taxes.
- A taxpayer can be an individual, a business entity that is obligated to pay taxes to a federal, state.
- Taxes from individuals and businesses are a primary source of revenue for governments.
- Taxable Natural Person A taxable person is a person whose income is taxed.
- A taxable entity is a taxpayer who is taxed on the profits from the previous year's business activities.
- Individual taxpayers are compensated income earners, self-employed persons, sole proprietors and SAW/non-residents.
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