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What surprised you about the tax system in the United States? What experience, if any, do you have with taxation in the United States?
What is the difference between primary and secondary authorities? Explain the role of each authority type in conducting tax research.
Prepare Schedule K for current year from page 4 of Form 1065. Prepare Andrew's Schedule K-1. Prepare a letter to Andrew summarizing her current year tax issues.
What are the applicable tax rates? For this discussion, ensure at least one of the states has an estate and/or inheritance tax for comparison purposes.
An explanation of the various levels of government involve in the process. An analysis of how a House of Representatives tax bill can differ from a Senate bill.
Analyze the impact that each of the three significant changes has on the taxpayer as an individual and a family.
Examine the fundamental advantages to a business combination of filing a consolidated tax return.
Describe the ASB's Clarity Project. Why is this so important for the auditing profession? How Tax Cut and Jobs Act will impact the individual tax payers?
Prepare a memorandum for your tax manager explaining whether or not this transaction meets the tax-free requirements of Sec. 351.
Identify one tax you pay and one benefit you utilize that is funded by tax dollars. How do both of these impact your life and your family member's lives?
Determine which forms are necessary for Jackie O. Park's tax return. Complete all necessary downloaded fill-in forms on the computer and save.
What kinds of records should he keep? What changes were implemented in the Tax Cuts and Jobs Act that impacted this area of the tax law?
What are the major changes made to the tax provisions by the Act? What impact is it likely to have on our GDP and government's budget?
Suggest at least three advantages and three disadvantages of the U.S. adopting a zero income tax model. Provide a rationale for your response.
Research a case in which a company has committed tax fraud or evasion and summarize the details of case including the IRS's position, findings and consequences.
Assume that the country is a small country. Then evaluate the net welfare effect of the tax on the country. Why might a country want to impose an export tax?
As you meet with one of the campaign designers, you identify several ethical problems with the new poster he has created.
What penalties, if any, can accrue to a tax preparer who makes errors on a company's tax return? Does intent (malicious vs. accidental) change those penalties?
Explain why Whitley should/shouldn't wait to purchase the equipment. Determine the ethical considerations of this case.
Identify any private use items and adjustments. Review any comments and corrections suggested by your supervisor and make the appropriate corrects to your work.
Determine the projected amount of income tax expense that would be reported if Whitley waits until next year to purchase the equipment.
Examine the impact of Accounting for the Uncertainty in Income Taxes on GAAP reporting. Identify the benefits of the requirements on financial reporting.
Identify one source of income and one source of deduction and explain to Robin how its source is determined.
Examine three significant changes brought forth by the Tax Cuts and Jobs Act and discuss at least two advantages and/or disadvantages of each.