Advanced Tax

Paper , Order, or Assignment Requirements

It is December, and tax season is just around the corner. You expect a large clientele this tax season, and you will be filing tax returns for a variety of business entities. You decide to get your office ready by having a copy of all of the various tax forms on hand along with relevant publications.
In addition, you read a recent article that the Internal Revenue Service (IRS) is implementing new rules for paid preparers. You decide to research the new requirements and prepare a memorandum for future reference.
Part 1
Deliverable Length: 250–300 words
Use this Web site to determine the form(s) required to file income taxes for the following business entities:
• Sole proprietorship
• Partnership
• Corporation
• S Corporation
Download the current form and instructions (you will refer to these in later assignments).
Use the instructions for each form to prepare a tax guide that you will use during tax season. The tax guide should have the following information for each business entity:
• Tax form or schedule used to report the profit or loss from a business
• When the tax form must be filed
• Where the tax form must be filed based on the state
• An IRS publication that will provide supplemental federal income tax information about the business entity
Part 2
Deliverable Length: 250–300 words
Use the following Web site to prepare a memo for your file regarding the new regulations for paid preparers for future reference:
• Web site: http://www.irs.gov/uac/Newsroom/IRS-Unveils-Filing-Season-Program-for-Tax-Return-Preparers,-Answers-Frequently-Asked-Questions

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