Discussion

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* From the e-Activity, evaluate the importance of the principal issue litigated in the case in question using the tax research steps outlined in Appendix A of your text.
* Compare the American Institute of CPAs’ (AICPA) Statements on Tax Standards (SSTS) and the Treasury Department Circular 230 rules to practice before the Internal Revenue Service (IRS). Suggest which document creates better guidance in the preparation of tax returns and written advice provided to taxpayers.

From the e-Activity, evaluate the importance of the principal issue litigated in the case in question using the tax research steps outlined in Appendix A of your text.
Determine the Facts:
The respondent, Marshall R. Jones, determined deficiencies in Alacare Home Health Services Federal income tax of $136,895 for 1995 and $58,726 for 1996 and accuracy-related penalties under section 6662(a) of $27,379 for 1995 and $11,745 for 1996.
Identify the issues:
As a Medicare-certified home health care agency, Alacare must comply with accounting guidelines contained in the Medicare Provider Reimbursement Manual Publication. The respondent determined that Alacare’s policy of expensing assets that cost less than $500 was not a proper method of accounting, and that Alacare must capitalize the cost of the disputed assets over their useful lives.
Locate applicable authorities:
Medicare Provider Reimbursement Manual (HCFA Publication 15-1): Guidelines for Capitalization of Historical Costs and Improvements Costs of Depreciable Assets. Income Tax Regulations: SEC 446(a) General Rule – Taxable income shall be computed under the method of accounting on the basis of which the taxpayer regularly computers his income in keeping his books. Cincinnati, New Orleans & Tex. Pac. Ry. Co. v. United States case.
Evaluate these authorities:
Guidelines for Capitalization of Historical Costs and Improvement…...

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