Assignment: Tax Return Project
Requirements:
1. Prepare the 2017 federal income tax return on the appropriate IRS forms. You are required to make manual entries (okay to type on PDF forms) on IRS forms to receive any credit. Print out from any tax return preparation software is not acceptable for grading purposes. Copies of the forms and instructions are available.
2. Use the sequence numbers in the upper right-hand corner of the official IRS forms for the property order.
3. Prepare a brief top sheet summarizing the factual information in the format of the tax formula. You must use Excel spreadsheet to prepare this summary.
4. Do not calculate next year's estimated tax or any late filing or late payment penalty or interest, if there is a balance due.
Strategy:
1. Download a copy of the Form 1040 instructions from the IRS website. It will be helpful to figure out the forms, schedules and worksheets needed to complete this project.
2. You might want to start with page 1 of the 1040 and manually make entries (pencil recommended). You may then need to do subsidiary forms (e.g., Schedule A, Schedule B, etc.)
3. Based on the information given, download the recipient instructions of the form, which will give you instructions how and where to include the information on the tax return. For example, the information given includes a W-2 form. Download the W-2 form instructions for recipients, which would tell you how to include the W-2 information on Form 1040.
4. Go through the information given to figure out the applicable subsidiary forms, such as Schedule A, Schedule B, Schedule D, etc. needed.
5. All information given is useful for the tax return. Start early, because this is a time consuming project.
Format your assignment according to the following formatting requirements:
1. The answer should be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also include a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
3. Also Include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.
Attachment:- Tax-Return-Project.rar