A revenue agent for the internal revenue service

Assignment Help Accounting Basics
Reference no: EM13532537

You are a revenue agent for the Internal Revenue Service. In November 2014, you audit Dan's 2011 tax return. During the course of the audit, you come to believe that Dan's deductions for business travel and entertainment in 2011 are unsubstantiated, and you propose a $6,000 deficiency assessment for that year. You also examine some prior-year returns. You believe that Dan failed to report $40,000 of gross business income on his 2008 federal tax return. Dan had reported gross income of $60,000 on his 2008 return. You also discover that Dan failed to file a federal tax return in 2005.

Reference no: EM13532537

Questions Cloud

Calculate what is the magnitude of the force : A hiker, who weighs 919 N, is strolling through the woods and crosses a small horizontal bridge. What is the magnitude of the force that a concrete support exerts on the bridge at the near end
Nicotinic receptors always produce depolarizations : Nicotinic receptors always produce depolarizations while muscarinic receptors may cause depolarizations orhyperpolarizations. Briefly explain why this is possible. Why would this flexibility in the responses of the body be useful?
State a location at which ach has stimulatory effects : State a location at which Ach has stimulatory effects. Wheredoes Ach have inhibitory effects? What types of receptors mediateeach of these responses?
Define the volume remains constant what will the temperature : A 3.0 L container holds a sample of hydrogen gas at 300 K and 100 kPa. If the pressure increases to 400 kPa and the volume remains constant, what will the temperature be
A revenue agent for the internal revenue service : A revenue agent for the Internal Revenue Service.
Evaluate the maximum weight for the car : Four identical springs with k= 67.1kN/m support a car, with the car's weight distributed equally among them. Find the maximum weight for the car
Gap between the transmitting and receiving neurons : In a chemical synapse, what is the name of the gap between the transmitting and receiving neurons?
Evaluate the work done by friction : A 1.32 kg book slides 1.15 m along a level surface. The coefficient of kinetic friction between book and surface is 0.136. Find the work done by friction
Instructions on research paper : Instructions on Research Paper

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd