Internal Revenue Research Papers Samples For Students

RE: Mr. and Mrs. Julio Zavala
I have reviewed the memo regarding the requests of Julio and Clara Zavala regarding their taxes. The couple is married. He has enough money at his disposal that he was able to quit his 9 to 5 job and travel extensively. Here is a summary of the four main tax issues according to the information you provided. The first issue to consider is whether or not Julio Zavala’s expenditures can be considered as tax deductions. These trips were combination of work objectives and leisure activities to entertain his potential clients who are ...

1. United States v. Cesarini, 296 F.Supp. 3 (N.D. Ohio 1969), is a historical case that decided by United State District Court, the court ruled that property for treasure trove included in gross income for the tax year when realized.
2. § 1.74-1 Prizes and awards. b) Excluded from gross income. Section 74(b) it happens when such prize or award was made solely in recognition of achievements in the past of the recipient in religious, charitable, literary, educational, artistic, or civic fields (Arkin)
3. Yes. It's not common within the IRS, section 7430 of the Internal Revenue Code. IRC ...

I have reviewed your memo regarding our client Howdy Brewster which describes his business activities and the recent events which may impact his 2011 Federal Tax Return. Here is a review of the factual information about Brewster which pertains to the income tax questions. His business is an eight hundred fifty acre farm and dairy operation. About 150 Holstein milk cows are part of the dairy operation. Approximately 150 Black Angus steers are raised to sell. Brewster has one part-time employee. He employs his two teen-age sons for the daily farm work. The land has been in the family for ...

Section 195 of the Internal Revenue Code encompasses the provisions concerning amortization of the start-up expenditures and is applicable to any trade or business. Start-up expenditures include all the money spent on creation of a trade or business or investigation of the creation or acquisition of an active trade or business, as well as on any activity that is supposed to bring profit before the beginning of active trade or business (Internal Revenue Code). Start-up costs can be amortized if they meet the following criteria: they incurred for operation of the existing active trade or business in the same ...

ACCOUNTING

Memorandum
RE: Zavala, Julio and Clara
This memo includes a brief summary of the Julio Zavala information pertaining to tax law, a brief discussion of the tax issues that arise and examples of court cases that are likely to have an influence on the tax status of Zavala, his wife and son.
Julio Zavala is married (Clara) and they have one adult son (Robin). Due to medical issues Robin lives at home with his parents. Zavala was able to retire from his day job (9am to 5pm) because he has enough money to do so. He has enough ...

I have reviewed your memo regarding our client Howdy Brewster describing his business activities and the recent events which have occurred that could have an impact on his 2011 tax returns. His business is a farm and dairy operation on 850 acres of land. The land has been in the family for close to 125 years. There are three existing houses on his property.

Mr. Brewster recently signed a contract with Aztec Oil and Gas Pipeline to allow the company to lease a portion of his land in order to run a pipeline; Aztec will need access to maintain the pipeline over its ...

1.
The fact that George is an active participant in his companies 401(k) and contributes 5% of his salary his contributions are fully deductible. In the case of Jane, her contributions are not fully deductible for the year 2012. This is mainly because she is going to make her return after the tax day deadline of April 15. According to code §6151 (c), the time and place for making returns is strictly set by law. The code states that if a date has been fixed for returns then it is considered the final date for all returns to ...

Executive summary

The Affordable Care Act (ACA) addresses the challenges facing the health industry. The government has been implementing the provisions in incremental stages since 2010 and more changes are still underway. This report discusses the impact that this act has on indoor tanning services by analyzing the indoor tanning services tax, health insurance coverage duty on employers and the additional Medicare tax. Firstly, the indoor services tax applies to businesses offering tanning services as their predominant activity. However, the law provides tax exemptions to providers such as phototherapy services, qualified physical fitness facilities, spray-on tanning services and those selling tanning ...

As your authorized legal adviser on the matters that you have disclosed, I have attached the necessary legal challenges that you are faced with and finally the best possible way of avoiding legal action by complying with the set out legal regimes.

Facts

Reading the information that you have availed in regards to receiving a w9 from your foreign bank, this may elicit many questions as may relate to the reasons of receiving such a letter as well as the consequences of receiving such a letter. However, I will guide you into pursuing the best option to explore since you ...

There is a considerable and sizeable population of small business in the US economy. Statistically speaking there are over 28 million small business that occurs with small business specifically indicating businesses with fewer than 500 employees. Over 22, million individuals are self-employed without any additional payrolls or having employed other persons. Of the working population, a considerable percentage of over 50% that translates to 120 million individuals work in the small business (US statistics and data, 2016). Small business on average have modest turnovers that attract income taxes on the cash generated. Business entities are relevant in the generation ...

Research Paper

Abstract
Max Weber has greatly influenced both private and public organizations through his conception of bureaucracy, which he describes as the most efficient, productive structure for any formal organization. He developed the six-point ideal type model as a pattern for formal organizations wanting to streamline and rationalize their systems. However, Weber also recognizes some of the disadvantages of bureaucracy, such as its negative impact on employee morale and customer satisfaction and organizational productivity. Trained incapacity is one of the concepts that explain how bureaucratic practices make formal organizations too rigid or inflexible. This paper critically evaluates and discusses Weber's ...

Introduction

Switching the United States’ current income tax system would benefit the country as a whole. Therefore, variations of the flat tax that are proposed, some of which set a percentage on income while others set a percentage on sales tax. Those arguing in favour of such tax reforms contend that it will eliminate the complexity of our current system and the loopholes. This will contribute towards boosting of the economy. One such proposal, on which a number of books have been written, is called Fairtax. This is a flat rate sales tax only on new items. For example, if someone were to buy a used ...

Accounting 101

Deciding on Accounting Major
If I had to decide on the accounting major to pursue, I would choose to be a forensic accountant. This major of accounting deals with the investigation of potential frauds within a company, or prevention of fraudulent activities from occurring. Forensic accountants are also commonly known as fraud investigators, investigative accountants, forensic auditors, or fraud auditors. Of all possible accounting majors, this one attracts me the most due to a number of reasons, including the history of this major, the variety of potential employment places, the nature of the job itself, and the knowledge and skills commonly ...

Individual Income Tax (North Carolina)

Individual Income Tax (North Carolina)
Personal income tax or individual income tax refers to the levied tax on personal income. Here, individual refers to a person, non-juristic body of person, an ordinary person or an individual estate. For an individual to be liable for personal income tax, one has to compute file tax returns, compute tax liability as well as pay the indicated tax as according to the calendar of the year. The individual tax income differs in different states with each state having its own rights of running the tax provided by its residents. This research would look ...

Introduction

The task of this report requires the development and analysis of a counterintelligence activity, which specializes in the involvement of drugs, pertaining to an operation conducted by the Federal Bureau of Investigation (FBI). A plethora of counterintelligence sectors exist including matters involving illegal drug activities, terrorism, child pornography rings, money laundering, Internet scams, corporate security, and more. In general, counterintelligence competes with these aforementioned areas sometimes in ways that overlap. For example, an Internet scam may involve theft of consumer credit card information – as well as running illegal or non-existent gambling websites. The chosen case study to be developed concerns ...

- In Sec 1031 of Internal Revenue Code, what type of stocks are not included as stock for purposes of Sec 1031 like kind exchanges?
The Internal Revenue Code subsection 1031 stipulates that you have to pay tax whenever you sell an investment property or business and gain from it. Tax is paid on the gain made at the time of sale. Under this section, a real property owner can decide to reinvest the proceeds from the sell in ownership of a like-kind property and defer the capital gain taxes. However, certain types of stocks are specifically excluded from Sec. ...

The terms ‘white collar crime’ and ‘tax evasion’ have precariously vacillated from the perception or classification of bonafide crime, or non-criminal acts. The slippery slope of tax evasion in relation to white collar crime sustains serious implications, historically and to the present. According to expert sources at Cornell University Law School, the definition of white collar crime is explained by giving an overview of an early incident in 1939, when sociologist Edwin Sutherland “coined” the phrase. Sutherland defined white collar crime as an act involving “crime committed by a person” who is normally tremendously respected in their line of occupation, ...

What are the Types of Ethical Predicaments Encountered in Public Personnel Administration?

Types of Ethical Predicaments Encountered in Public Personnel Administration 3
Common Ethical Dilemmas 3
The Context of Ethics 4
Administrative Discretion 5
Constitutional Prerequisite 6
Ethical Predicaments in Administrative Discretion 6
Corruption 7
Ethical Predicaments in Corruption 8
Other Types of Ethical Predicaments 9
Nepotism 9
Information Leaks 10
Public Accountability 10
Policy Dilemmas 10
Discussion 11
Conclusion 12

References 13

Types of Ethical Predicaments Encountered in Public Personnel Administration
The success and reputation of governance depends upon the functionalities and conduct of the public administrators. ...

Security Policy

Creation and implementation of information security policies should be a top priority for any firm, organization or a federal agency that depends on integrated information systems and networks to perform it day-to-day activities. It is most important for government agencies to address information security issues in order to gain the public trust. An improvement in information technology, communication systems, and the use of the internet is a necessary drive for government agencies to change the procedures of carrying out its business and execution of its functions to the public. Without proper policies and security measures to safeguard sensitive information, the agencies run a ...