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Article: Power of attorney.
- Article from:
- The Ohio CPA Journal
- Article date:
- April 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 Ohio Society of Certified Public Accountants. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A Power of Attorney is a legal instrument authorizing one to act as the attorney in fact or agent of the person granting the power. Although CPA's are not normally in the business of drafting powers of attorney for their clients, a CPA who has a client who is either the grantor or grantee of a power of attorney should review the instrument to determine potential financial and tax consequences.
A Power of Attorney is a written instrument in which one person as principal, appoints another as their agent and confers upon that person the authority to perform certain specific acts or kinds of acts on behalf of the principal. 3 Am Jur2d Sec.23 The grantee or agent has ...