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Free Internal Revenue Service Essays and Papers

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    Introduction The case of Sabina Loving, et al. v. Internal Revenue Service, et al. was originally filed on March 13, 2012 by three independent tax preparers. Sabina Loving of Chicago, IL; John Gambino of Hoboken, NJ; and Elmer Kilian of Eagle, WI. alleged that the IRS had over-stepped its authority when they required tax preparers be licensed. According to Kimberly Stanley J.D., LL.M., “about 40 percent of paid return preparers are attorneys, CPAs, or enrolled agents, the remaining 60 percent have

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    In 2013, the IRS got audited and it wasn't pretty. In 2013, the Internal Revenue Service (IRS) admitted that it had inappropriately targeted and scrutinized political groups applying for tax-exempt status. At first it was reported that the agency had only targeted conservative groups, including groups with "Tea Party" in its name. However, it was later revealed that some liberal groups, such as those associated with the Occupy Wall Street movement, were also targeted, although to a lesser extent

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    Most people dread the prospect of being audited by the Internal Revenue Service. Countless individuals will never be subjected to an IRS audit, but taking certain steps to avoid such an experience is not a bad idea. Those who seek to prevent an intensive examination of their financial records may wish to explore a few easy tips on how to avoid a tax audit. File Correctly and Completely One of the best ways to prevent an audit is to file taxes properly. Rushing through them so that they can be

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    trips.” Billy has indicated that the expenses associated with several trips to Las Vegas were also primarily of a business nature. There were also other large deductions without providing any substantial documentation or evidence. b. Per the Internal Revenue Code (IRC) Section 162, the key words relating to the case would be that business expenses are allowed for “ordinary and necessary expenses…on any trade or business.” What constitutes as an ordinary and necessary business expense would be that

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    When the Internal Revenue Service completes a taxpayer audit and the taxpayer does not agree to the additional assessment, a statutory notice of deficiency (SNOD) is issued to the taxpayer. According to Internal Revenue Manual (IRM) Section 4.8.9.2, this notice “is a legal determination that is presumptively correct and consists of the following: (A) a letter explaining the purpose of the notice, the amount of the deficiency, and the taxpayer’s options, (B) a waiver to allow the taxpayer to agree

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    The Estate Tax Should Be Controlled

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    accumulated wealth once their dead. It is our right to have our accumulated wealth, also called Gross Estate, transfer over to our designated beneficiaries. However, before we die there are some considerations that must be made. The U.S. Internal Revenue Service has stated that the filing of an estate tax return is necessary for amounts over certain thresholds. These federal thresholds have exempted many Americans from having to worry about filing for estate tax. Yet, there are state estate taxes

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    Tax Law And Accounting

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    Congress and the President of the United States are responsible for writing and approving the tax laws. They are also responsible for the federal budget. The budget is how much the government plans to spend on various programs and services. The Internal Revenue Service (IRS) is responsible for enforcing the tax law, for collecting taxes, for processing tax returns, for issuing tax refunds, and for turning over the money collected to the US Treasury. Then, the Treasury is responsible for paying various

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    History of Taxes in the United States

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    There are four main sources of tax revenue in the United States. They are income tax, payroll tax, corporate tax, and “other” taxes. These taxes are collected by the Internal Revenue Service, or the IRS, which is a branch of the US Department of Treasury. The revenue generated from these taxes is used to fund government programs, both discretionary and mandatory. Income tax is a tax on the income from an individual. This makes up the majority of the tax revenue generated. It is labelled as a progressive

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    Condominium Association Taxation

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    Federal Income Tax Law Condominium associations are unique in that the Internal Revenue Service (IRS) allows them to elect annually to be taxed as a regular corporation or receive special treatment and be taxed as a homeowners’ association. If electing to be taxed as a regular corporation IRC § 277 applies and Form 1120 is filed. If electing to be taxed as a homeowners’ association IRC § 528 applies and Form 1120-H is filed. The board of directors can seek advice from accountants, attorney or

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    Involved in federal civil tax litigation? Wondering who has the burden of proof in litigation? Burden of proof is the responsibility to prove the entries, deductions, or statements made on a taxpayer’s return. In order to deduct certain expenses they are substantiated by proof. When the burden of proof is on the taxpayer, the taxpayer keeps adequate records to prove their expenses or has sufficient evidence to support statements. Generally, documented evidence such as receipts, canceled checks, or

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