Controlled foreign corporations-tax deferral

Assignment Help Accounting Basics

Reference no: EM13762662

"Controlled Foreign Corporations" Please respond to the following:

You are an IRS agent and are planning to audit a controlled foreign corporation for potential tax evasion. Suggest audit strategies that address transactions that are most likely to result in tax evasion by a controlled foreign corporation. Support your audit plan with examples.
You are the CPA working for the controlled foreign corporation that is being audited by the IRS for potential tax evasion. Construct a defense against the audit that supports the corporation's claim that there was no tax evasion. Support your defense with examples.

"Tax Deferral" Please respond to the following:

You are a CPA who specializes in offshore tax arrangements. A client has engaged you to develop a strategy she can use to invest abroad and defer her income from U.S. taxes. Suggest a strategy for deferring taxable income. Support your recommendation with examples.
You have been hired by an underworld client to establish a tax haven overseas to avoid paying U.S. taxes, and avoid IRS scrutiny. Evaluate tax havens and construct a scheme that your client can use to establish a tax haven abroad and avoid IRS scrutiny. Support your scheme with examples.

Reference no: EM13762662

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