Our Services

Get 15% Discount on your First Order

[rank_math_breadcrumb]

Accounting

Hello, I need help with an assignment: Module Two Income Assignment Guidelines and Rubric ACC 330 Module Two Income Assignment Guidelines and Rubric Overview Research is a big part of being a tax prac

Hello, I need help with an assignment:

Module Two Income Assignment Guidelines and Rubric

ACC 330 Module Two Income Assignment Guidelines and Rubric

Overview

Research is a big part of being a tax practitioner. Researching income and adjustments to income is critical for arriving at the adjusted gross income (AGI). Using Internal Revenue Service (IRS) resources, professional publications, and articles that are written by practitioners will inform your decisions. There isn’t always a clear answer, so relying on primary sources and applying the Internal Revenue Code (IRC) will provide you with the confidence to support the tax position you will recommend. You will need to form an opinion of the tax position based on your research and justify your interpretation of the tax code.

Scenario

You are a junior accountant at a medium-sized CPA firm. Your department has flagged several cases that require a review of gross income. The research you perform will assist you in determining if the item under review needs to be reported as income and, if so, how. Your manager would like you to document your interpretation of the Internal Revenue Code (IRC) and requirements to report (or not report) on the three cases under review.

Directions

Open the Module Two Income List found in the Supporting Materials section and select three cases to research. Use the Module Two Income Assignment Template found in the What to Submit section and enter the names of the selected cases by copy and pasting the title into the template row labelled Case Selected. Then, complete the table for each of the three cases you’ve selected. Do this for each case to demonstrate your application of the research process using the Tax Research Guide found in the Supporting Materials section to perform your research. Be sure to cite your sources as shown in the example, specifically the IRC location, and interpret your understanding of the IRC language.

Based on your research, you will gauge your opinion of the tax position for each case and the confidence level followed by your interpretation of the IRC. You’ll also make suggestions or requests for further information, as needed.

Specifically, you must address the following rubric criteria for each of the three cases you choose to research:

Identify the research topic using specific words to describe the intent. Include the following:
Identify a primary source using the IRC section number that applies to the case research topic. Include the following:
Identify a secondary source using the section of an IRS publication that clarifies the issue. Include one or more of the following:
Identify a supplemental source that describes the topic in plain language. Include one or more of the following:
State an opinion on whether income is taxable or nontaxable that is supported by research.
Select a confidence level in the research. Choose high, medium, or low.
Interpret the confidence level by connecting the research to the determination of taxability, making specific points. Include the following:

What to Submit

You will submit a completed Module Two Income Assignment template.

Supporting Materials

The following resources support your work on the project:

Videos: IRS VideosResource: Module Two Income ListResource: Tax Research GuideResearch Resources:

Office of the Law Revision Council (OLRC): United States Code
Tax Code, Regulations and Official Guidance
IRS.gov
IRS Prior Year Forms and Instructions

Share This Post

Order a Similar Paper and get 15% Discount on your First Order

Related Questions

Incremental Analysis Download the Unit VI Assignment Excel worksheet and complete the following problems on the worksheets. Each problem is designated by a worksheet in the tabs at the bottom of th

Incremental Analysis Download the Unit VI Assignment Excel worksheet and complete the following problems on the worksheets. Each problem is designated by a worksheet in the tabs at the bottom of the file. Worksheet Problem 1 Gulf Coast Paddle produces paddleboards for retailers in the United States. The cost of

Option #2: Can Management Accounting Help Aid Associations Make Tough Choices in Haiti?Read the following Case Study: Krumwiede, K. R., Paik, G. H., Walden, W. D. (2018). Can management accounting hel

Option #2: Can Management Accounting Help Aid Associations Make Tough Choices in Haiti?Read the following Case Study: Krumwiede, K. R., Paik, G. H., Walden, W. D. (2018). Can management accounting help aid associations make tough choices in Haiti?Links to an external site. Issues in Accounting Education, 33(1), 17–28. Answer the following questions:

Option #2: Can Management Accounting Help Aid Associations Make Tough Choices in Haiti?Read the following Case Study: Krumwiede, K. R., Paik, G. H., Walden, W. D. (2018). Can management accounting hel

Professional judgment frameworkAccounting for income taxes—valuation allowanceBackground Asbat Pharmaceuticals (Asbat) is a leading pharmaceutical company that has been in existence for 22 years. Asba

Professional judgment frameworkAccounting for income taxes—valuation allowanceBackground Asbat Pharmaceuticals (Asbat) is a leading pharmaceutical company that has been in existence for 22 years. Asbat has a calendar year-end and is audited annually. Asbat only operates in the United States and is not subject to state or local income taxation. Its

I need help with my Ethics project. My work should be formatted and cited in current APA style with appropriate references. No plagiarism. No flags on turnitin.com. The Institute of Management Acco

I need help with my Ethics project. My work should be formatted and cited in current APA style with appropriate references. No plagiarism. No flags on turnitin.com. The Institute of Management Accountants, like other professional organizations, has produced a statement of ethics that their members are expected to follow. Find the

Module 2 – CaseCost AnalysisAssignment OverviewPricing Considerations Analyzing accounting data is essential for informed financial decisions and long-term sustainability. Large quantity price reducti

Module 2 – CaseCost AnalysisAssignment OverviewPricing Considerations Analyzing accounting data is essential for informed financial decisions and long-term sustainability. Large quantity price reductions boost sales but impact profit margins. Discontinuing a product affects supply chain, finance, and customer relations, while make-or-buy decisions influence cost control and operational efficiency, shaping overall

Module 2 – SLPCost AnalysisAssignment OverviewCost Analysis Understanding the interaction between costs, breakeven points, economic changes, and the broader economy is important for business planning.

Module 2 – SLPCost AnalysisAssignment OverviewCost Analysis Understanding the interaction between costs, breakeven points, economic changes, and the broader economy is important for business planning. It helps organizations adjust pricing, manage expenses, and forecast profits. ***SLP 2 Must be Completed Before Case 2*** Module 2 SLP Resources Variable Cost vs.

Locate a U.S.-based, publicly listed company of interest to you. This should be a company that has made a substantive amount of sustainability-related reporting or disclosures in its latest annual rep

Locate a U.S.-based, publicly listed company of interest to you. This should be a company that has made a substantive amount of sustainability-related reporting or disclosures in its latest annual report on Form 10K. (Use only information published within the last two years.) Note: You will find this type of

Analytics Mindset – TechWear You will need Microsoft Excel to prepare this assignment. We suggest you start on this assignment early in the week, as it will, most likely, take you some time to complet

Analytics Mindset – TechWear You will need Microsoft Excel to prepare this assignment. We suggest you start on this assignment early in the week, as it will, most likely, take you some time to complete. Read below (and/or download the attached Word file TechWear (Links to an external site.) Download TechWear (Links to an

You have been provided with a significant amount of material from Ernst & Young’s Academic Resource Center on two converged accounting standards that cover revenue recognition and lease accounting

You have been provided with a significant amount of material from Ernst & Young’s Academic Resource Center on two converged accounting standards that cover revenue recognition and lease accounting. These are major converged accounting standards, which were subject to intense scrutiny not only by boards but also by publicly listed

You have been provided with a significant amount of material from Ernst & Young’s Academic Resource Center on two converged accounting standards that cover revenue recognition and lease accounting

It is very important as a professional in the accounting field to stay up to date on the key topics being addressed by the PCAOB (Public Company Accounting Oversight Board), including findings of its

It is very important as a professional in the accounting field to stay up to date on the key topics being addressed by the PCAOB (Public Company Accounting Oversight Board), including findings of its most recent inspections of public company audits. The major emphasis in this module is on auditing

Option #2: Audit Procedures to Address Audit Risks This assignment is constructed to examine your understanding of the importance of proper auditing, done in accordance with generally accepted auditin

Option #2: Audit Procedures to Address Audit Risks This assignment is constructed to examine your understanding of the importance of proper auditing, done in accordance with generally accepted auditing standards, of the information provided by the entity (the audit client). Assignment Requirements: Download the Word document and fill in the

Locate a publicly owned corporation’s financial statements and interpret the financial results using what you have learned from this week and this course. After reviewing the company’s financials, exp

Locate a publicly owned corporation’s financial statements and interpret the financial results using what you have learned from this week and this course. After reviewing the company’s financials, explain whether the organization is sound, and if not, suggest ways to improve its financials. Be sure to include the link to your

Module 1 – CaseFinancial ReportingAssignment OverviewCompare Traditional Reporting vs. TBL Reporting Traditional reporting focuses solely on financial performance, while Triple Bottom Line (TBL) repor

Module 1 – CaseFinancial ReportingAssignment OverviewCompare Traditional Reporting vs. TBL Reporting Traditional reporting focuses solely on financial performance, while Triple Bottom Line (TBL) reporting evaluates financial, social, and environmental impacts, providing a broader view of a company’s sustainability and long-term value creation. In analyzing trends over five years of financial

Module 1 – SLPFinancial ReportingAssignment OverviewTraditional and Triple Bottom Line Reporting For managers in all departments, analyzing Traditional and Triple Bottom Line Reporting is important fo

Module 1 – SLPFinancial ReportingAssignment OverviewTraditional and Triple Bottom Line Reporting For managers in all departments, analyzing Traditional and Triple Bottom Line Reporting is important for making informed decisions that balance financial performance with social and environmental responsibility. It helps managers align strategies with sustainability goals, drive innovation, and support

Read the following article: Lawson, R. (2019, March 1). New competencies for management accountants.Links to an external site.. Strategic Finance. Focus on one of the major subjects of this article th

Read the following article: Lawson, R. (2019, March 1). New competencies for management accountants.Links to an external site.. Strategic Finance. Focus on one of the major subjects of this article that is of interest to you. These subjects include (but are not limited to): Include the subject you have decided to

Select one of the following (either Fringe Benefits or Example Disability/Economic Damages Claim) and address the associated items or questions as your initial post for this discussion board. Copy and

Select one of the following (either Fringe Benefits or Example Disability/Economic Damages Claim) and address the associated items or questions as your initial post for this discussion board. Copy and paste your selected item into your initial response in bold type, so that you are sure to answer each aspect of your