Posted: April 7th, 2015

Tax Questions

Tax Questions

Order Description

1. Analyze the steps in the creation of tax law from inception to enforcement. Based on your analysis, suggest which step you believe is the most important. Support your suggestion with examples

2. Create a scenario in which the IRS audits your client. Suggest the type of tax research that you would perform in order to provide the best defense for your client. Support your response with examples.

3. Imagine that a client has hired you to file a tax return. The client is married, and you have prepared a joint return for the couple for the past five (5) years. The client tells you that the other spouse may not have disclosed all income sources, but the client is not certain of this. Analyze the various filing options that could protect this client from IRS actions, and recommend the filing option that protects your client from an IRS audit.

4. Use the Internet to research a recent legislative proposal on capital gains Summarize the recent proposal that you researched. Compare and contrast the pros and cons of the proposal, and recommend whether or not the proposal should be adopted.

5. Go to the Internal Revenue Service Website, located at https://www.irs.gov, to search for and read the latest filing year’s “Publication 17.” From your research, choose any two (2) statutory income exclusions. Take a position as to whether or not you believe the IRS should retain these exclusions in the tax code. Support your position by using “Publication 17.”

6. Imagine that you are a Certified Public Accountant (CPA) and your client has asked for your help in mitigating or eliminating the potential estate tax liability for the property that the client owns so that he/she may pass it on to his/her heirs. Analyze the options that may be open to your client, and propose a strategy to mitigate or eliminate the client’s potential tax liability.

these are to be answered separate. Please keep answers uniform with the question number

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