Tax Research Assignment 2.pdf - Jennifer Colon Gonzalez...

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Jennifer Colon GonzalezApril 17, 2021ACCT 323A cash basis individual taxpayer has a freelance business by which he provides bookkeepingservices. On December 31, 2020, the client had a balance due to the taxpayer/freelancer for$500 for work performed in December 2020. The client called the taxpayer on December 31,2010 to let him know that the check for $500 was available for him to pick up to pay off hisbalance. However, the taxpayer was busy with personal projects during the day. The drive topick up the check and return back home would have taken about 2-3 hours all together sincehe lives 60 miles away from the client and the traffic to the client's was usually heavy duringthe week. Notwithstanding these facts, taxpayer had no severe restrictions that would haveprevented him from picking up the check. The taxpayer asked the client to mail the check tohis home. The client mailed the check to taxpayer's home on December 31st. It was receivedby the taxpayer on January 5, 2021.

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Term
Spring
Professor
Hromadka
Tags
Taxation in the United States, individual taxpayer

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