Assignment Requirements
For your Applicable Law, use primary sources (which are not IRS publications, web sites, nor the text itself). You should have a primary resource for each issue (which may be a state?s law concerning a non-tax issue, such as the liability of a general partner. Yes, state law does affect tax issues.) My advice is not to blend the issues but to address each one separately. In the Analysis, tie together the law and facts of the question that will lead to the Conclusion. An exceptional Analysis will give an argument that the IRS could use to counter the conclusion (this assumes that you will be trying to come to a conclusion that is favorable to the client and the IRS will be trying to come to a conclusion that is favorable to the government).
Scenario
You are a CPA with an office in NearLakes City and clients consisting primarily of professionals, entrepreneurs, and small business owners. John Smith, Esq., a practicing attorney with offices near yours, walks in your office and wants advice from you relating to a recent influx of cash he received as a result of winning a large jury verdict on behalf of his client in a personal injury case. His wife Jane Smith accompanies him during your meeting because she has some additional tax planning advice to ask of you.
Role
After reviewing John and Jane Smith’s points of view, it will be your turn as a tax professional to decide on the best course of action from a tax perspective on their issues. Prepare a three page memo (at least 900-1,500 words per page) to John and Jane Smith addressing the issues presented.
Players
John Smith, Esq.
Lawyer
Jane Smith
Professional
For your Applicable Law, use primary sources (which are not IRS publications, web sites, nor the text itself). You should have a primary resource for each issue (which may be a state’s law concerning a non-tax issue, such as the liability of a general partner. Yes, state law does affect tax issues.) My advice is not to blend the issues but to address each one separately. In the Analysis, tie together the law and facts of the question that will lead to the Conclusion. An exceptional Analysis will give an argument that the IRS could use to counter the conclusion (this assumes that you will be trying to come to a conclusion that is favorable to the client and the IRS will be trying to come to a conclusion that is favorable to the government).
You Decide Assignment
See the You Decide content item for details, instructions, and grading rubrics. For each issue, you should
Prepare a three-page memo (at least 900-1,500 words per page) to John and Jane Smith addressing the issues presented:
You Decide: It’s your turn as a tax professional to decide on the best course of action from a tax perspective on their issues as presented above.
For each issue, begin by restating the issue and numbering as shown above [i.e., 1(a), 1(b), etc.]. Next, explain and discuss the tax rules that apply to the issue, which you gleaned from your tax research. Then, conclude with a definitive answer to the issue, supported by citations to the sources used. So for each issue, you should
*A template has been provided in Doc Sharing for your use in preparing this activity. Please use it!
Citations
Citations are required. You must provide citations whenever you refer to the sources of tax law used in this memorandum. You may cite your sources in numbered footnotes, numbered endnotes, or in parentheses immediately after the sentence mentioning the cited source.
Grading Rubric
Description | ||
Superior | 100–125 | Content and subject: Easily identifiable, clear; meets or exceeds page or word-length requirement; all required citations are provided Structure: Apparent, understandable, and applicable; excellent flow and well structured Analysis: Interesting and novel; provides different perspectives; demonstrates critical thinking and critical analysis at a high level Mechanics: Virtually devoid of errors in grammar, syntax, punctuation, and spelling |