Reference no: EM131263430
I need help with my advanced tax project.
Background
You are working as a paid tax preparer for a local accounting firm. Your boss has asked you to prepare the 2015 corporate tax return for Smart Pet.
Documents
The package given to you by your boss includes the following items:
1. Prior Year Tax Return (e.g., the 2014 tax return),
2. Trial Balance and
3. Additional Information.
The 2014 tax return was prepared by a different accounting firm that has gone out of business. You have no assurance that the 2014 tax return is correct. That is, it may contain an error or errors.
Instructions
1. Prepare Form 1120 for 2015. Do not use tax return preparation software. (You would waste time and effort in learning the software). You can either prepare the return by hand or use a form filler type program (usually a pdf file with active fields.) Such forms can be found at the IRS website at www.irs.gov/formspubs/index.html. If you use the forms on the IRS website you must save each form or you will lose your work.
2. You are allowed to work collaboratively with other students. However, the work product that you submit for grading should be your own.
Deliverables
1. 2015 Tax Return.
a. Form 1120
b. Schedule G Form 1120
c. Form 1125-A
d. Form 1125-E
e. Supplemental Statements
2. Enter your 4 digit codes (1234) in Paid Preparer's block (PTIN) on page 1 Form 1120. You should sign and date the return (penalties for tax preparers are stiff).
3. Due at the start of class.
You need not complete Schedule B Form 1120 or Schedule M-3 Form 1120 or Schedule UTP.
Use commas to show thousand and millions. Do not use cents in the amounts.
Attachment:- Assignment.zip
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