Questions from General Taxation

Q: Charlene provides 100 percent of the support for her elderly handicapped mother

Charlene provides 100 percent of the support for her elderly handicapped mother, Amanda. Amanda insists on living alone in her own apartment even though she has a severe hearing impairment. Amanda has...

Q: Howard is a single parent with an 11-year-old

Howard is a single parent with an 11-year-old dependent son. The son currently attends sixth grade at public school. Howard accepts a temporary foreign assignment from his employer, which is expected...

Q: Sarah pays $800 per month for her five-year-

Sarah pays $800 per month for her five-year-old daughter to attend a private kindergarten from 8:30 A.M. until 2:30 P.M. and after-school care until 5:30 P.M. The price of the kindergarten without the...

Q: Go to www.legalbitstream.com. Locate and read Regulation

Go to www.legalbitstream.com. Locate and read Regulation Section 1.62–2(j), example 6. If an employer has an otherwise accountable plan but reimburses employees at 60 cents per mile, how is the reimbu...

Q: Go to www.legalbitstream.com. Locate and read Revenue

Go to www.legalbitstream.com. Locate and read Revenue Ruling 2003–102. What type of medicines and drugs can be reimbursed through a flexible spending arrangement (FSA) according to this ruling? What c...

Q: What is the rationale for taxing unemployment compensation?

What is the rationale for taxing unemployment compensation?

Q: Find an article on the Internet that describes how a traditional IRA

Find an article on the Internet that describes how a traditional IRA can be converted into a Roth IRA. Summarize the process explaining any tax costs associated with the conversion. Include the URL fo...

Q: Go to Gap Inc.’s Web site (www.gapinc

Go to Gap Inc.’s Web site (www.gapinc.com) and locate its annual report. Find the note on income taxes. a. What was Gap’s effective tax rate for its two most recent fiscal years? b. How much was Gap...

Q: Go to www.irs.gov/irb/ (the

Go to www.irs.gov/irb/ (the IRS site containing Internal Revenue Bulletins). Locate and read IRS Notice 2008-14, 2008-4 IRB 310 and answer the following questions. a. What is the penalty for filing a...

Q: Go to the IRS site (www.irs.gov)

Go to the IRS site (www.irs.gov) and search for “Circular No. 230.” Download a copy of Treasury Circular 230: Regulations Governing Practice before the Internal Revenue Service. a. Read §10.33 and th...