McGraw-Hill's Taxation of Individuals and Business Entities 2019 Edition
McGraw-Hill's Taxation of Individuals and Business Entities 2019 Edition
1st Edition
ISBN: 9781259918391
Author: Professor, Brian C. Spilker
Publisher: McGraw-Hill Education
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Chapter 4, Problem 51P

a.

To determine

Determine the tax amount that IRS wants Person J to pay for Person D’s year 2 joint return.

b.

To determine

Determine the amount of tax that IRS wants Person J to pay for Person C’s year 3 separate tax return.

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Mr. and Mrs. Schrute filed a joint tax return last year. The couple divorced this year. The IRS audited their last year’s return and determined that the Schrute’s had underpaid their tax by $38,200. Which of the following statements is true? a. The IRS can assess either Mr. Schrute or Mrs. Schrute for the entire deficiency b. The IRS must assess whichever spouse actually prepared the return for the entire deficiency c. Because the couple is divorced, the IRS must assess Mr. Schrute with a $19,100 deficiency and Mrs. Schrute with a $19,100 deficiency d. Because the couple is divorced, the IRS must apportion the deficiency between Mr. and Mrs. Schrute based on their relative contribution to taxable income
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Sally and Tom were married and properly filed a joint return for the year 20x4 on March 30, 20 x5. The return reported $200,000 of gross income and a tax liability of $40,000. A total of $ 37,500 in taxes had been withheld from their salaries during the year. The IRS mailed a Notice of Deficiency to Sally and Tom on April 15, 20x8. What would be the last date on which the IRS could assess tax if- (a) Sally and Tom did not file a petition in the Tax Court? (b) The Tax Court issued its opinion on April 1, 20x9 and entered its decision on June 30, 20x9? (c) Would your answer to (b) be different if the Notice of Deficiency had been mailed on April 10, 20x8 ?

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McGraw-Hill's Taxation of Individuals and Business Entities 2019 Edition

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