Tax Return Reflection

On June 1, 2016, exactly three months ago, Marianne and Dory received an audit notice for Wise-Holland’s 2011 tax return because some deductions taken were

Adrian is a salesperson who represents several wholesale companies. On January 2, 2008, she received by mail a commission check from Ace Distributors in the amount of $10,000 that was dated December 31, 2007. Adrian is concerned about the year in which the amount of $10,000 is taxable. Although the check is dated 2007, she contends that it would have been unreasonable for her to drive 100 miles (one way) to the Ace offices on the eve of a holiday to collect her check. Further, Adrian maintains that even if she had made the trip to collect the check, by the time she returned home, the bank would have closed and she could not have deposited the check until January.

In April of 2015, Elizabeth filed a joint tax return with her husband Gary. Both spouses are 67 years old and have no dependents. After filing their tax return, Elizabeth realized that Gary has 500,000 of embezzled funds in a bank account that she was unaware of. Although the embezzled funds earned $25,000 of interest, they were not reported on the couple’s 2014 tax return. The following income and deductions were reported on the tax return.

What is the proper tax treatment of this information on their tax return using the Tax Court method?

We went back and reviewed the questionnaire that you historically send out each tax season. We see some places that we could have addressed more thoroughly.

Jasper and Crewella Dahvill were married in year 0. They filed joint tax returns in years 1 and 2. In year 3, their

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Mr. and Ms. Synder stated on 01/25/2016, H and R Block attempted to electronically file their joint income taxes. H and R received a reject notice that their taxes were not accepted by the IRS. H and R Block emailed them the reject notice it received from the IRS.

You are legally married to Mary Dewey and reside in the same abode. Both you and Mary file your income tax returns jointly as married. You and Mary are anticipating an approximate Adjusted Gross Income (AGI) of $400,000 this year. In your same abode, you have two children in residence; Debra, who is currently 16 years of

IRS is proposing to update the administrative appeals process for cases in tax court. These new procedures are designed to make easier consideration by the IRS appeals office. The Chief Counsel’s office must refer to the case of Appeals within 30 days of the case becoming “at issue in the Tax Court” unless with the manager’s approval of the Chief Counsel’s office identifies the need for extra time. This notice contains a number of procedures designed to allow the Appeals office to continue the settlement of cases while cooperating with the Chief Counsel’s office to help trial preparation. This procedure won’t apply to the innocent spouse Tax Court petitions under Sec. 6015(e)(1)(A)(i)(II), cases involving levies and various judgment proceedings

When a person dies, filing final tax returns becomes mandatory for the executor of the estate. The executor must file a final federal income tax return and a final state income tax return (if required) reporting all income earned by the decedent in the final year of life up until the day of death. Furthermore, even if the executor hires a tax professional to file the final tax returns, the executor must know how to prepare the information needed by the tax professional. Otherwise, the tax professional will charge the estate a substantial amount to handle the preparation as well as the filing of the final tax returns.

Stanton Delaplane once joked about the IRS, saying he heard it had suggested a simplified tax form with only one question: How much money did you make last year? The IRS response was, "Mail it in"." Thank goodness, our taxes haven 't gotten quite that bad. It is true though, that the majority of Americans, most of us included, have to bite the

Trident's introductory course TUX101 was extremely beneficial as it broke the ice with online learning. I have completed minimal college courses, and all of those were in a classroom environment. Knowing and understanding I am a kinesthetic learner, I was very apprehensive to enroll in an online college. I was not familiar with the APA style writing, I did not have a resume or cover letter, nor did I understand the support system designed to help students with this type of learning atmosphere. The exercises, assignments, workload, and time allotted within TUX101 was spot on when it came to brushing off the dust and sparking my desire to complete my degree. My current understanding of the expectations from the TUI online requirements, the

I always feel like I say this, but WOW almost midpoint? This class seems to be flying right by. The more I think about it the more scared I am . I can honestly say I am scared of this portfolio project, because I am really not sure how to approach it. Do I just come up with fact and list them to my employer? How does one really propose a tuition reimbursement? How do I know I am researching the right thing? So many questions running through my head. Besides my fear of the portfolio project, I think I am keeping up and doing well with discussions, reading and homework.

The individual income tax is complicated, and it violates transparency standards through created loopholes (or tax preferences) which allow some to pay less than their fair share of taxes (Mikesell, 2011). In 2005, more than 70 percent of individuals filing taxes had tax preparers complete their returns because of confusing rules and regulations that could penalize taxpayers for qualifying for certain legal tax preferences (Mikesell, 2011). This transparency problem exists because citizens are really unaware of how to determine their tax liability except at the end of the year. Income taxes are collected annually through the Internal Revenue Service (IRS), and there are constant complaints about the IRS not willing to assist taxpayers