Part 2
In addition to the preparation of the individual income tax return for this topic, write a 300-500-word paper in which you address the following ethical issues associated with tax preparation:
- Discuss the legal and ethical aspects of accurately reporting income on tax returns using Circular 230 as published by the Department of Treasury (located in Topic Materials). Discuss one item in Section B on Duties and Restrictions and the consequences to tax preparers if they fail to adhere to the guidelines as provided by the Department of Treasury.
- Compare and contrast the concepts of “tax avoidance” and “tax evasion”.
- (Optional) You are welcome to add discussion about how ethics in taxation can correlate to the Christian worldview. In other words, what guidance from a Biblical perspective could be applied to preparation of tax returns for clients?
- Refer to the GCU website and documents listed in the topic materials for assistance on this assignment.
Prepare this portion of the assignment in a Microsoft Word document. Ensure that your last name is in your file name, for example: EthicsACC460Damron.docx
Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
You are required to submit this assignment to LopesWrite. Refer to theLopesWrite Technical Support articles for assistance.
Benchmark Information
This benchmark assignment assesses the following programmatic competencies:
BS Accounting
5.4: Apply basic legal, tax, and ethical concepts to issues in financial reporting.
Attachments:
Review-Circul….pdf
