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Assignment1-revised

Assignment1-revised - 1 Spring 2009 Learning Objectives...

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Spring 2009 Assignments 1A & 1B Learning Objectives After completing this module, you should be able to: Understand where tax law comes from Explain the distinction between primary and secondary authority Identify what comprises the tax law, including the Internal Revenue Code and official interpretations of the Code such as administrative pronouncements and judicial decisions Understand what it means to be a tax practitioner and conduct a tax practice Apply the AICPA Code of Professional Conduct and Statements on Standards for Tax Service to factual situations Identify the various penalties that may be applied to taxpayers whose returns reflect improper amounts, and related computations of interest charges Appreciate the various penalties that may be applied to tax practitioners who fail to perform as directed by the IRS Recognize the basic steps in conducting a tax research project Assignment (5 parts) 1. Read all of this document first . There are two assignments included in it: 1A and 1B. Both are due on the same date. Be sure to complete both of them. 2. Read Chapter 2 , Tax Practice and Research, in the Pratt/Kulsrud text ( Individual Taxation or Federal Taxation, any edition in the last several years is fine). If you do not have this chapter, it has been posted on Oncourse. It is about 50 pages in length and represents the bulk of the reading materials for the entire course. Students who are taking the introductory tax course should read Chapter 1 for some basic background about the income tax (pages 1-10). Chapter 1 is also assigned reading in the introductory course. 3. Review the PowerPoint slides posted on Oncourse for Assignment 1. 4. Complete Assignment 1A , entering your answers through Oncourse. Quizzes are actually homework assignments that require you to enter your answers through the Test and Survey Tool on Oncourse. The quiz questions for Assignment 1A are included later in this assignment. Prepare your answers before opening the quiz on Oncourse. NOTE: If any of the questions on any of the Oncourse quizzes are not the same as the questions in the matching assignment, please notify the instructor immediately because they should be the same—we are not trying to trick you . 5. Complete Assignment 1B. Read the material below entitled “Authority: IRS Publications and Instructions” and complete Assignment 1B, which requires you to find some information and then post it to a Discussion Forum on Oncourse. This should be the only time in this course that you cite a publication, although you may read them to gain a general understanding of a tax topic. 1
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Spring 2009 AUTHORITY: IRS PUBLICATIONS AND INSTRUCTIONS The IRS publishes numerous documents to assist taxpayers in complying with the requirements of the tax law. Some of these are: Instructions to tax forms Publication 17, Your Federal Income Tax Publication 225, Farmer's Tax Guide Publication 334, Tax Guide for Small Business Publication 519, Tax Guide for Aliens
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