ACC 555: Individual Tax Research and Planning

1. Week 4 Assignment – Tax Research

   Overview

   You are an accountant preparing tax returns for your client. After you file their taxes, the IRS selects your client for an audit. The IRS disputed two items deducted in the tax returns filed by your client: travel expenses and entertainment expenses. After talking with your client, you are sure that your client is correct, and that the IRS’s position is not. You must provide a defense for the client that requires you to research the issues in order to render an educated opinion on a course of action for your client. Note: You may create and/or make all necessary assumptions needed for the completion of this assignment.

   Instructions

   Part 1

   Write a 2–3 page paper in which you:

   1. Prepare a defensible strategy for your client by using the six steps in the tax research process.
   2. Explain the tax laws that support your client’s claims for deducting the travel and entertainment expenses.
   3. Create a fact-based argument that you plan to propose to the client as a defense of their position with the IRS.
   4. Identify one circumstance that the IRS could use to discredit your client’s position.
   5. Prepare a response to the IRS counter argument you identified above. Provide a rationale for how you arrived at the response.
   6. Cite at least one reference from the IRS website or related official publications to support your argument. Note: Wikipedia and similar websites do not qualify as quality academic sources. You have access to Strayer University’s Online Library and iCampus University Library Research page.

   Part 2

   Write a 1–2 page letter in which you: 

   1. Outline the key arguments in support of your client’s position.
   2. Base your arguments on the fact-based research you performed in Part 1.

   This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course.

   The specific course learning outcome associated with this assignment is:

   • Prepare a defense strategy using tax research techniques that inform an appropriate course of action.

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