All individual tax returns are based on a calendar year

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Reference no: EM13995094

1. DISCUSSION - In the US, all individual tax returns are based on a calendar year.  (Individuals can elect a non-calendar year - but it is rare).  Tax returns are due April 15th of the following year.  For ease of processing, should the IRS move to a system where returns are due at various times during the year - a rolling plan.  (For example your return due date could be based on your birthday or your social security number).  Having a system where all returns are not due at the same time could smooth out tax collection for the IRS and eliminates the April 15 bottleneck.   Do you think the IRS should even consider moving away from having the same due dates for everyone?  In your response you may want to consider recent budget cuts at the IRS and the growth in electronic filing over the last decade.

2. Geier Textbook - Chapter 1

Page 43

Questions 2 - Use the information from this question (Sheila and Shane) to complete page 1 (only) of Form 1040.  We will complete page 2 next week.

This form can be found at irs.gov.  Use the form for 2014. You can hand write to complete the form or complete electronically. Make up address and social security numbers.  Decide on filing status.    The purpose of this exercise is to get you familiar with the irs.gov website and with form 1040.

Attachment:- Page 43 Exercise 2.pdf

Reference no: EM13995094

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