What do you think of the irs and other tax authorities

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Reference no: EM131627705

Discussion

What do you think of the IRS and other tax authorities? If you where selected for an audit, would you be prepared? Why does the IRS select certain returns and not others, and what causes the IRS and tax preparers to interpret the law differently?

Each student should post his or her response to the questions above, 200-300 words on your response.

J. C. has been a professional gambler for many years. He loves this line of work and believes the income is tax-free.

a. Use an available tax research service to determine whether J. C.'s thinking is correct. Is the answer to this question found in the Internal Revenue Code? If not, what type of authority answers this question?

b. Write a memo communicating the results of your research.

Select one problem and write a short memo which is 200-300 words to the client. Make sure your memo is the correct length for full credit. Go to the www.irs.gov and search/type Internal Revenue Code. Go to the Table of Contents and then Leave IRS Site. This will redirect you to the Cornell Law University which is a great place to search. Double click on Subtitle A-Income Tax and research your problem.

Reference no: EM131627705

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