Business Tax Forms, accounting homework help

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: 350–400 words (APA Format)

Use https://www.irs.gov/businesses/small-businesses-self-employed/business-structures 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 are creating a TAX GUIDE for the tax preparers who work for you in your Tax Office. This guide should be easy to read and understand. Presenting this information in CHART FORMAT is easiest

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 

Be sure to include the following information;

  • Forms required to file Federal income tax returns for the listed business entities.
  • When must the tax form be filed? (the due date for each type of business)
  • Where (the ADDRESS for the forms to be mailed to) the tax form be filed
  • What IRS publications (NOT instructions or websites!) will provide information regarding filing your taxes for each entity?

Part 2

Deliverable Length: 350–400 words (APA Format)

Use the following Web site to prepare a memo for your file regarding the new regulations for paid preparers for future reference:

 
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