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ACC 455 Entire Course

ACC 455 Week 1 Individual

assignment Tax Return
Position Paper

ACC 455 Week 1 DQ 1

ACC 455 Week 1 DQ 2

ACC 455 Week 1 DQ 3

ACC 455 Week 2 Individual

Assignment Problem Set

ACC 455 Week 2 Team

Assignment Outline for
Week 3

ACC 455 Week 2 DQ 1

ACC 455 Week 1 DQ 1

Do the following decisions

have the same
precedential value: (1) Tax
Court regular decisions, (2)
Tax Court memo decisions
(3) decisions under the
small cases procedure of
the Tax Court? Why? Which
of the following sources do
you think would be most
beneficial for your client:
(1) Tax Court regular
decisions,

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ACC 455 Week 1 DQ 2

What constitutes
substantial authority for a
position taken on a tax
return? What options do
you have if substantial
authority is lacking?

ACC 455 Week 1 DQ 3

What business entities are

available for a new
business? What are the
tax and nontax
advantages of each form?
Select two business types
and provide an example of
when that selection is
most appropriate from a
tax perspective and from a
nontax perspective.

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ACC 455 Week 1 Individual assignment
Tax Return Position Paper

Suppose you have a concern

about taking a particular
position on a tax return.

Write a 700-word paper that

discusses the following:

What are the primary

sources of tax law?

What are the

secondary sources of tax law?

What is substantial
authority?

ACC 455 Week 2 DQ 1

What are the alternative

tax years available to a
corporation? What factors
should be considered in
electing the tax year?

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ACC 455 Week 2 DQ 2

What methods of
accounting are available
to a small business and to
a large business? If the
business decides to make
an accounting methods
change, how is this
accomplished?

ACC 455 Week 2 DQ 3

What are the requirements

for the following
deductions: U.S.
production activity
deduction, dividend
received deduction, and
net operating loss?
Discuss any recent
legislative changes.

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ACC 455 Week 2 DQ 4

What is the legislative

intent behind the
corporate alternative
minimum tax (AMT)?
Define tax preference
items, AMT adjustment,
and minimum tax credit.

ACC 455 Week 2 Individual

Assignment Problem Set

Complete the problems

found in Ch. 2 of Prentice
Halls Federal Taxation
2010: Corporations.

C:2-6

C:2-40

C:2-45

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ACC 455 Week 2 Team
Assignment Outline for Week 3

Please Provide a brief

outline of how the team
will be setting up the
team problem in week
3. Please indicate who
will be responsible for
each section and a
timeline to complete

ACC 455 Week 3 DQ 1

How does a corporation

compute earnings and
profits (E&P)? What
income is deferred to a
later year when computing
taxable income but is
included in E&P in the
current year? What
deductions are allowed for
taxable income purposes
but denied for E&P?

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ACC 455 Week 3 DQ 2

Distinguish between
current and accumulated
earnings and profits. Why
is it important to make
this distinction?

ACC 455 Week 3 DQ 3

What is a stock
redemption? What are
some reasons for
redeeming stock? Why are
some redemptions treated
as sales and others as
dividends?

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ACC 455 Week 3 Team
Assignment Problem Set

Complete the problems

found in Ch. 3 & 5 of
Prentice Halls Federal
Taxation 2010: Corporations
with your Learning Team.

C:3-8 Discussion
Question

C:5-10 Discussion
Question

C:3-35 Problem

C:3-38 Problem

ACC 455 Week 4 DQ 1

Sue and Bill plan to open an

accounting firm and expect
to work full time in the firm.
They expect to incur a
small loss during their first
year of operation and
expect to be profitable after
the first year. What are the
tax law requirements for
structuring the business as
a partnership or an S
corporation? Which would
you recommend and why?

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ACC 455 Week 4 DQ 2

Bob and Dave plan to start

a business. Bob will
contribute land and Dave
will contribute services.
Would you recommend
this business be formed as
a partnership or as an S
corporation? Why

ACC 455 Week 4 DQ 3

What are separately

stated items on a K-1?
Why is it necessary to
separate these items from
ordinary income?

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ACC 455 Week 4 DQ 4

What is the difference

between a distribution and
a distributive share? How
do these affect the
owners K-1 and individual
taxes?

ACC 455 Week 4 Individual

Assignment Problem Set

Complete the problems

found in Ch. 4 & 6 of
Prentice Halls Federal
Taxation 2010:
Corporations.

C:6-8 Discussion
Question

C:4-34 Problem

C:4-36 Problem

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ACC 455 Week 4 Team
Assignment Outline for Week 5

Please Provide a brief

outline of how the team
will be setting up the
team problem in week
5. Please indicate who
will be responsible for
each section and a
timeline to complete

ACC 455 Week 5 DQ 1

What is a liquidating
distribution? What is a
nonliquidating
distribution? Provide an
example of each.

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ACC 455 Week 5 DQ 2

What is an inadvertent
termination of an S
election? How does an S
corporation and its
shareholders rectify an
inadvertent termination?
What could happen if a
company fails to rectify
the termination?

ACC 455 Week 5 DQ 3

What events will cause an

S election to terminate?
What would you
recommend S
corporations do to plan for
an orderly termination of
an S election?

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ACC 455 Week 5 Team
Assignment Problem Set

ACC 455 Week 5 DQ 4

A C corporation has incurred

substantial losses and the
owners have decided to
close the business. What
considerations should the
owners make in this
termination? Should they
consider making an S
election and then later,
terminating the S
corporation? If you were
their tax advisor, what
would you recommend?

Complete the problems

found in Ch. 9, 10, & 11 of
Federal Taxation 2010:
Corporations with your
Learning Team.

C:9-35 Problem

C:11-45 Problem

C:10-4 Discussion
Question (Ch. 10)

C:11-47 Problem )

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