a) From Study
Unit 1 identify 5 examples of someone practicing before the IRS and 3
examples of not practicing before the IRS.
A person is practicing before the IRS if they communicate with the IRS for a taxpayer
regarding taxpayer rights unde
From Study Unit 1 identify 5 examples of someone practicing before the IRS and 3
examples of not practicing before the IRS. b) Identify 4 people who are authorized to
practice before the IRS. c) From Study Unit 1 identify 4 types of solicitations of
1. Discuss fully the components of capital assets. page 616
a) all property is characterized as capital assets, unless expressly excluded.
b) The following types of property are not capital assets:
1. Invertory- property help primarily for sale to custome
Study Unit 15: Coportate Taxable Income
1. Discuss the gross income of a corporation and excluded items. page 652
1. Gross income of a cooperation is all income, from whatever source derived,
unless specifically included
2. Excluded items
a. Capital contr
Study Unit 3 Agency
1) Discuss the formation of agency. pages 103-104
a. An agency is an express or implied consensual relationship formed when two
parties agree that one, the agent, will represent the other, the principal, in dealing
with third parties.
1. Summarize the Introduction on page 3. Why data mining? What is data mining? page 4 100 word
minimum, not 500 word minimum
The introduction explains the reason for tax audits, which is when you have incorrect information on y ur
taxes. The audits help e
Study Unit 18
1) Discuss the eligibility for S corporation status.
Study Unit 6 Negotiable Instruments
1) Define negotiability and discuss the elements of negotiability.
Negotiability characteristic of a document that allows it to be legally and freely
assignable, saleable, or transferred
1) Written and signed- permanenc
1) Discuss extraordinary dividend.
1. Additional gain may be recognized by a shareholder who sells stock on
which an extraordinary dividend was received
2. An extraordinary dividend is a dividend on stock held 2 years or less that
exceeds 10% (5% for pref
Discuss Parent-Subsidiary Controlled Group and Brother-Sister Controlled Group. Page
1. Parent subsidiary controlled group
a. This type of controlled group consist of
i. Two corporations if one of the corporations own stock that
1. 80% or m
1) List a dozen above the line deductions and explain the rule regarding moving
expenses. Starting on Page 513. List 7 itemized deductions (below the line deductions)
from schedule A. page 538
12above the line deductions are: Trade or business deduction,
Study Unit 5
List a dozen above the line deductions and explain the rule regarding moving
expenses. List 7 itemized deductions (below the line deductions) from schedule A.
Above the line deductions:
Certain business expenses of reser