ACC 497 Week 4, Learning Team Assignment From the Reading

May 1st, 2015
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ACC 497 Week 4, Learning Team Assignment From the Reading

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Textbook ProblemsACC 497NamesDateInstructorI: 15-61 Tax Strategy ProblemsIf HPU wants to file a law suit against the IRS about the payment for $150,000, they should file in either the U.S. District Court or the U.S. Court of Federal Claims. However, they need to capitalize the amount, pay the taxes due, and then receive a refund if they win the case. If they lose, they can pay any interest and penalties that may be due. The tax court allows for appeals, has judges that specialize in tax related issues, and is also not bound by previous decisions in the other court. The District Court will be involved only in the District that HPU is located and this court must follow any previous decisions made by U.S. Supreme Court. The federal court also follows upper court decisions in its decisions. So this court would follow in the ruling of the IRS. The tax court does not have to follow any other court rulings. Therefore, HPU should file claim in this court so they will get a better chance to win this case. I: 15-62The statement on standards for Tax Services, No. 3, which is set forth by the American Institute of Certified Public Accountants (AICPA) contains the

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