Questions from Taxation

Q: Discuss the tax policy reasons why gifts and inheritances aren’t Included in

Discuss the tax policy reasons why gifts and inheritances aren’t Included in gross income.

Q: In what way does the tax law give preferential treatment to the

In what way does the tax law give preferential treatment to the divorced spouse with custody of the children?

Q: Using an electronic tax library, locate a recent judicial decision involving

Using an electronic tax library, locate a recent judicial decision involving taxpayer negligence and a different decision involving taxpayer fraud. Describe the actions of the taxpayers that resulted...

Q: Why are welfare payments from a state social services agency nontaxable to

Why are welfare payments from a state social services agency nontaxable to the recipient while state unemployment benefits are taxable?

Q: A basic principle of federal tax law is that a return of

A basic principle of federal tax law is that a return of investment is nontaxable. Discuss the application of this principle to Social Security payments.

Q: Vitronix Corporation’s net worth exceeds $160 million, its stock is

Vitronix Corporation’s net worth exceeds $160 million, its stock is publicly traded, and a national CPA firm audits its financial statements. Wilson Corporation’s net worth also exceeds $160 million....

Q: Discuss the policy reasons for a statute of limitations for tax returns

Discuss the policy reasons for a statute of limitations for tax returns.

Q: Assume that Congress amended the tax law to limit the itemized deduction

Assume that Congress amended the tax law to limit the itemized deduction for cash contributions to charity to 5 percent (rather than 60 percent) of AGI. Discuss the incidence of the tax increase repre...

Q: Is it easier for the IRS to determine that an individual omitted

Is it easier for the IRS to determine that an individual omitted an income item from a return or overstated deductions?

Q: Discuss the burden of proof as it relates to the penalties for

Discuss the burden of proof as it relates to the penalties for: a. Negligence. b. Civil fraud. c. Criminal fraud.