Questions from Federal Taxation

Q: Many state income tax returns contain checkoff boxes that allow taxpayers to

Many state income tax returns contain checkoff boxes that allow taxpayers to make donations to a multitude of local charitable causes. On what grounds has this procedure been criticized?

Q: Starting in 2006, Chuck and Luane have been purchasing Series EE

Starting in 2006, Chuck and Luane have been purchasing Series EE bonds in their name to use for the higher education of their daughter Susie, who currently is age 18. During the year, they cash in $12...

Q: Where can a researcher find the current Internal Revenue Code of 1986

Where can a researcher find the current Internal Revenue Code of 1986?

Q: Many states have occasionally adopted amnesty programs that allow taxpayers to pay

Many states have occasionally adopted amnesty programs that allow taxpayers to pay back taxes with reduced penalties. a. Besides the revenue generated, how are these programs advantageous? b. Could an...

Q: You inherit a tax problem that was researched five months ago.

You inherit a tax problem that was researched five months ago. You believe the answer is correct, but you are unfamiliar with the general area. How would you find recent articles dealing with the subj...

Q: Contrast FICA and FUTA as to the following: a.

Contrast FICA and FUTA as to the following: a. Purpose of the tax. b. Upon whom imposed. c. Governmental administration of the tax. d. Reduction of tax based on a merit rating system.

Q: What is the primary purpose of effective tax planning? Explain.

What is the primary purpose of effective tax planning? Explain.

Q: The Sixteenth Amendment to the U.S. Constitution was passed

The Sixteenth Amendment to the U.S. Constitution was passed to overturn a Supreme Court decision that had invalidated the Federal income tax. Do you agree? Why or why not?

Q: In connection with the Medicare component of FICA, comment on the

In connection with the Medicare component of FICA, comment on the following: a. Any dollar limitation imposed. b. The applicability of the .9% increase in the 1.45% regular tax rate.

Q: Describe simulation questions on the CPA exam.

Describe simulation questions on the CPA exam.