Write a six to eight 6-8 page paper in which youresearch

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Reference no: EM13376733

Write a six to eight (6-8) page paper in which you:

  1. Research the manner in which tax-deductible losses originally became part of the U.S. Tax Code. Conclude whether or not tax-deductible losses overall are reasonable. Provide support for your conclusions.
  2. Suggest what you believe to be a significant tax-deductible loss. Discuss whether or not the deductibility of this loss harms other taxpayers in general. Recommend changes to this tax-deductible loss you would make that would be fairer to all taxpayers.
  3. Choose a type of loss that is not deductible, and argue whether these losses should continue to be disallowed, or why they should be allowed. Provide support for the rationale.
  4. Propose an alternative to loss deductions that would be fair to all taxpayers and support the financial needs of the federal government. Indicate substantive ways in which your recommendation would achieve fairness to taxpayers and the United States Treasury.
  5. Research recent IRS audit activities related to loss deductions to determine the most frequent types of losses that would most likely trigger an IRS audit. Propose a strategy that you would use to defend a client facing an IRS challenge on loss deductions.
  6. Use at least three (3) quality references.Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

  • Conduct basic tax research and tax planning on individual federal taxation issues.
  • Determine how to minimize individual income tax within specific risk and legal parameters.
  • Analyze the inclusions and exclusions of gross income.
  • Analyze deductions for and from adjusted gross income.
  • Use technology and information resources to research issues in tax research and planning.
  • Write clearly and concisely about tax research and planning using proper writing mechanics.

Reference no: EM13376733

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