PRINCIPLES OF TAXATION F/BUS...(LL)
23rd Edition
ISBN: 9781260433197
Author: Jones
Publisher: MCG
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Chapter 18, Problem 10AP
a.
To determine
State the last day in which IRS would assess additional tax for this fiscal year, if LZ Corporation filed the return on October 23, 2019.
b.
To determine
State the last day in which IRS would assess additional tax for this fiscal year, if LZ Corporation filed the return on timely on its extended due date of July 15, 2020.
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The following data pertain to a taxpayer’s request for refund:Date tax erroneously paid, January 2, 2020Petition for request for refund filed, January 10, 2020Documents supporting the request for refund submitted, January 22, 2020.The Commissioner of Internal Revenue has not acted on the request. When is the last day to appeal to the Court of Tax Appeals?
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280,000. How much would be the total amount due?
3. The taxpayer's 2020 income tax return is to be filed through authorized agent bank under the jurisdiction of
RDO East Manila. Without prior authorization from the BIR, the taxpayer filed his tax return and paid the tax
through the authorized agent bank under the jurisdiction of RDO Laoag City? The tax due per return is 100,000.
How much would be the total amount due?
4. In connection with problem number 3, the taxpayer also filed his return 3 months…
Egolf Corporation failed to include $300,000 of taxable interest income on its 2021 calendar year Form 1120. The gross income
reported on the return was $4.7 million, and the return was filed on February 20, 2022.
Required:
a. What is the last day on which the IRS may assess additional tax for Egolf's 2021 taxable year?
b. Assume Egolf only reported $1 million in gross income on its 2021 calendar year return. What is the last date on which the IRS may
assess additional tax for 2021?
Complete this question by entering your answers in the tabs below.
Required A Required B
What is the last day on which the IRS may assess additional tax for Egolf's 2021 taxable year?
Due date for assessment of additional tax is
Chapter 18 Solutions
PRINCIPLES OF TAXATION F/BUS...(LL)
Ch. 18 - Prob. 1QPDCh. 18 - Prob. 2QPDCh. 18 - Prob. 3QPDCh. 18 - Prob. 4QPDCh. 18 - Prob. 5QPDCh. 18 - Prob. 6QPDCh. 18 - Prob. 7QPDCh. 18 - Prob. 8QPDCh. 18 - Prob. 9QPDCh. 18 - Prob. 10QPD
Ch. 18 - Prob. 11QPDCh. 18 - Prob. 12QPDCh. 18 - Prob. 13QPDCh. 18 - Prob. 14QPDCh. 18 - Prob. 1APCh. 18 - Prob. 2APCh. 18 - Prob. 3APCh. 18 - Prob. 4APCh. 18 - Prob. 5APCh. 18 - Prob. 6APCh. 18 - Prob. 7APCh. 18 - Prob. 8APCh. 18 - Prob. 9APCh. 18 - Prob. 10APCh. 18 - Prob. 11APCh. 18 - Prob. 12APCh. 18 - A revenue agent determined that Ms. Owen underpaid...Ch. 18 - Prob. 14APCh. 18 - Prob. 15APCh. 18 - Prob. 16APCh. 18 - Prob. 17APCh. 18 - Prob. 18APCh. 18 - Prob. 19APCh. 18 - Prob. 20APCh. 18 - Prob. 22APCh. 18 - Prob. 8IRPCh. 18 - Prob. 9IRPCh. 18 - Prob. 1RPCh. 18 - Prob. 2RPCh. 18 - Prob. 1TPCCh. 18 - Prob. 2TPC
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