How much gross income must sue recognize

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Reference no: EM13981683

This assignment is designed to research specific types of tax authority. Use the IRC and any relevant Regulations to write a memo in IRAC - issues, rules analysis, conclusions, keep it under 2 pages the most. Sue is an accounting student, who works part-time as a waitress at Busy Burger. Busy Burger allows all employees a 40 percent discount for any food that they buy and consume on the premises. During 2012, the value of this 40 percent discount for Sue amounted to $2,500 for days on which she was working at Busy Burger (she ate during mealtime at work), and $1,500 for days on which she did not work but still stopped by after class during mealtimes. How much gross income must Sue recognize for 2012 with respect to the discount plan? After appropriate research, prepare (in good form) a short research memorandum to file. The purpose of this assignment is practice in reading the Code and the regulations. Re: Facts: Issue: Conclusion & analysis:

Reference no: EM13981683

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