Joint Tax Return Essay

Paul, age 24, and Jessica, age 22, are married and want to file a joint return.

The issue in this case is that the petitioner is contesting if knew of the tax returns and if she was aware of what the husband was up to. She also wants to file for individual tax returns for the year 1987 and the year 1988. This

Background: Taxpayers brought action against government for a refund of penalties and interest totaling $89,736 imposed for late filing and payment of taxes. Government moved for summary judgment. Holdings: The District Court, Saylor, J., held that:

The 1301 1031 tax exchange refers to the exchange of real property that is “like-kind” (Reg.§1.1031(a)-1(b).

For those who want to live in a foreign country, there are many to expect. But for those who are already living in a foreign country, there are more to learn and adapt.

On June 1, 2016, exactly three months ago, Marianne and Dory received an audit notice for Wise-Holland’s 2011 tax return because some deductions taken were

The filing statuses available to the taxpayer couple are married filing jointly, and married filing separately. The best filing status for Spouse A and B is married; filing jointly. Both spouse A and B have separate income for the year and so could file separate returns but they would also have to file at a higher tax rate schedule because their income is not combined. They would be required to claim any exemptions, deductions, and credits available separately. The couple is also precluded from filing a dependent twice so if A were to file for one of their 3 dependents then B could not claim

The joint liability could cause issues for both parties if there were more tax liabilities or an audit was found in the IRS’s favor. When a joint return is filed personal exemptions are allowed for both spouses and exemptions for dependents can be claimed for all dependents.

Assuming Jackie’s husband passed away within the calendar year, Jackie can elect to file a single/surviving spouse or joint return. According to Section 86 of the Standard Federal Tax Reporter, if Jackie elects to file an individual return, her base amount and adjusted base amount are $25,000 and $34,000, respectively. If she instead elects to file a joint return, her base amount and adjusted base amount are $32,000 and $44,000, respectively.

joint income tax return are legally obligated to pay the taxes and any interest or

Mr. and Mrs. Cesarini filed an amended return removing the $4,467.00 of other income and claimed a refund in the amount of $836.51 for the taxes paid on the reported other income.

In the case study of Gee Wiz, “Wanda David, a licensed CPA, works for Gee, LLC, a professional accountancy corporation with offices in Wisconsin and Illinois, in the audit department and she also has some small business clients that she provides tax services to in her spare time generally on weekends. Her employer does not know that she does this. Wanda never thought about a conflict of interests because the firm does no tax work. One of Wanda’s small business clients, Wiz Inc., was also an audit client of Gee and had fallen more than 90 days past due on paying bills. In her position with Gee, Wanda was assigned to the audit of Wiz and is responsible for preparing and estimating the Allowance for Doubtful Accounts. During the audit of Wiz’s financial statements during the week ending March 1, 2013, her boss asks her for justification for not including Wiz Inc. in the 90+ day aging report. It seems there are some audit-related questions about the collectible of the Wiz account. Wanda came up with an explanation for not including the Wiz account in the estimated allowance and her boss was satisfied. Within a week of this request, Wanda is given a nice promotion and raise, but she has to transfer to the office of Gee in Chicago for the new job. Wanda accepts the promotion, leaves immediately, and decides to quit doing accounting on the side. In moving, Wanda does not complete the corporate tax return for Wiz on Form 1120, which should be filed with the IRS by March 15. She also

deduction in its draft tax return, resulting in a $40 reduction to taxes payable. There is uncertainty over

       The penalty is waived if the taxpayer uses Form 8275 to disclose a return position that is reasonable though contrary to the IRS position.

The purpose of this report is to fully evaluate Katy’s situation by providing detailed information about the different issues regarding employment and self-employment to enable her to determine her employment status.