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tax research paper

Jun 20,  · I would like to see much more theoretical academic research on the mathematics of taxation and its logicality and fairness. I will give you examples of anomalies that bother me: Tax should not rise faster than proportional to income. That is, it c. A List Of Great Topics For Your Term Paper On Taxes. Most students don’t look forward to writing a term paper. If you feel this way, you’re certainly not alone. An indispensable starting point for tax research is a tax looseleaf. “Looseleaf” is a generic name for publications that, because of their frequent updating schedule, are issued in a ring-binder format, making it easy to remove superseded material and insert new pages. In the field of tax, looseleafs offer.


Coming Up With Brilliant Term Paper Topics On Taxes


This site uses cookies to store information on your computer. Some are essential to make our site work; others help us improve the user experience. By using the site, you consent to the placement of these cookies. In a research project in the Master of Accountancy Program at the University of North Carolina at Charlotte, students completed an in-depth study of the consolidated financial statements and accompanying footnotes of a publicly traded, multinational company based in the southeastern United States.

This project is easily adaptable for use in both undergraduate and graduate accounting tax research paper tax programs. The Financial Accounting Foundation issued its Post-Implementation Review Report on the standard inin which the review team found that "complying with Statement is more difficult today than when the standard was issued because of increased complexities resulting from changes in the economic environment and the tax laws as well as increased operations by Tax research paper. The review team found preparers and practitioners had difficulties in applying the standard in the following areas: 1 accounting for valuation allowances and 2 computing deferred tax liabilities and deferred tax assets.

Preparers and practitioners also face operational challenges in the following areas: 1 intraperiod tax allocations; tax research paper accounting for intercompany transfers of assets; and 3 situations in which a deferred tax liability is not recognized for earnings determined to be indefinitely reinvested in foreign subsidiaries.

The review team also found that investors who participated in the study had difficulty understanding income tax information provided in the financial statements.

FIN 48, Accounting for Uncertainty in Income Taxeswhich clarified accounting for uncertainty in recognition of income taxes in financial statements, tax research paper. FIN 48 which is also incorporated mostly into Topic provided guidance on measuring and reporting the benefits of tax positions taken or expected to be taken on tax returns.

However, companies continue to face uncertainty in estimating the probability that a tax position would be sustained on audit. The research project was designed to give students a better understanding of the application of Topic in the real world.

Students often find this subject challenging, tax research paper, in part because of the complexities described above.

Another reason students fail to tax research paper understand this area of accounting is their lack of experience in reading and analyzing published financial statements, particularly those segments covering accounting principles and reporting practices for income tax expense and related accounts.

Accounting students need to gain an awareness of the variety and complexity of business transactions to succeed in understanding how businesses measure and report income tax expense and related accounts.

The study of financial statements and related footnotes in an annual report provides a path for students to gain this awareness and an understanding of Topic The project was an independent study in which graduate students committed to study a published annual report of a designated company for one semester. The students' objective was to learn as much as possible about current financial reporting practices in audited financial statements prepared in accordance with GAAP. In that context, students focused on all significant accounts involving application of Topic 's rules.

For each account, the students conducted research on the applicable U. The instructor met with the students and discussed the nature of the assignment, as well as the sequence of research steps. The students' first step was to read the annual report to learn about the company's operations and financial statements. Then the students began identifying balance sheet and income statement tax research paper that involve book-tax differences. The instructor and students had several meetings and exchanged emails about the preliminary findings and the identification of the most significant accounts requiring analysis in the student reports.

The students were instructed not to obtain any supplementary information from the company or its accounting firm because that could result in disclosure of confidential information. For this project, the research sources were limited to the published annual report and other documents filed with the SEC.

This restriction is consistent with the intended focus of the research project. As noted earlier, the first step was to identify accounts that involve 1 one set of rules for computing book income and 2 tax research paper different set of rules for computing taxable income on tax research paper U.

The tax research paper conducted research to determine applicable GAAP rules and tax rules the company used for those accounts. Resulting differences in book income and taxable income for the current period were identified as either permanent or temporary differences. Deferred tax assets and deferred tax liabilities resulting from temporary differences in the book and tax basis of assets and liabilities were described. Also identified were deferred tax asset accounts associated with losses and credits carried forward and used in future periods, tax research paper.

Next, the students addressed issues related to 1 uncertainties whether tax research paper tax assets will tax research paper realized and whether valuation accounts may be needed and 2 uncertainties whether tax positions will be sustained upon audit, which may require the accrual of additional tax liabilities.

Finally, the students examined the procedure for computing both the income tax provision and the effective income tax rate. Companies report effective tax rates that are lower than the statutory rates as a result of: 1 earning income that is not subject to income tax, such as municipal bond interest income; 2 earning income in a foreign country where income tax rates are lower than the U, tax research paper. A study by the U. The balance sheet for the company contains seven asset and liability accounts tax research paper to income tax.

Significant deferred tax assets and deferred tax liability accounts are listed in the exhibit. Using this project in a stand-alone course requires students to commit more time than is usually required for an extra project in a standard tax course.

However, the instructor has modified the project substantially to tax research paper it in the corporate tax course and in other tax courses. The headquarters for a major home improvement chain Lowe's is near the university, tax research paper. Each semester, the corporation provides copies of its annual report for all students in tax courses taught by the co-author, Howard Godfrey. Before the first class, the instructor studies the financial statements, the income tax footnote, and other footnotes containing relevant information about accounts affected by Tax research paper The annual reports are distributed on the first day of class, and the instructor leads the class on a journey-moving from the financial statements to the footnotes and back several times as information about various accounts or notes is analyzed, tax research paper.

For example, the footnote for property indicates that the straight-line method of depreciation is used in the financial statements, setting the stage for a visit to the balance sheet and to the tax footnote showing a substantial deferred tax liability tax research paper the property.

The effective income tax rate found in the tax footnote is verified by referring to the income tax provision in the income statement, tax research paper. The details of the income tax provision in the tax footnote are related to the income tax provision shown in the income statement, tax research paper.

The deferred tax asset for net operating losses in foreign jurisdictions and the related valuation allowance account are explained by the instructor, as well as the note indicating that the company has not provided for deferred income taxes for undistributed earnings of foreign subsidiaries. A substantial part of the first class is devoted to studying the annual report. Students are asked to tax research paper their copies of the report for reference later in the semester, especially when the accounting for income tax topic is covered.

In many tax research paper, students in a master of accountancy tax course are just a few months away from starting careers in public accounting or corporate accounting, etc. A new graduate may quickly become involved in a "crash course" learning about an important client or the individual's corporate employer.

The graduate may need to quickly learn about the company's 1 business operations; 2 applicable GAAP; 3 tax issues; 4 tax returns; and 5 financial reporting practices. Students reported the following benefits or discoveries from the project:. It provides an opportunity to learn the language used in financial statements and gain practice thinking analytically.

There is a tax research paper for getting CPAs involved in the project in at least two ways. First, tax research paper, the instructor may have a guest speaker tax research paper has a role in preparing the financial statements and the footnotes, either as an accountant or as a tax specialist for the company under study. The speaker may explain the process by which the company accumulates the information for the financial statements and the footnotes, and the process for preparing those documents.

The speaker may shed some light on how decisions are made about the need for an allowance account for deferred tax assets, tax research paper, the identification and measurement of uncertain positions, etc. The speaker may be able to use some of the footnotes as a foundation for the presentation and may be able to present some "problems" for classroom discussion.

The corporation may understandably limit the scope of the speaker's presentation somewhat, but such a presentation can potentially provide valuable insights for the students and the instructor. The second alternative is to invite an individual in an accounting firm who has a role related to accounting for income tax, tax research paper, whether as an auditor or as a tax specialist.

If the company under study is a client of the firm, discussion of material in the company's annual report would likely be off-limits. However, if the individual is not involved with the company in that way, he or she can provide valuable information about the firm's policies and practices related to determining what should be disclosed, and how it is disclosed in the relevant footnotes of its clients.

Other topics may include firm procedures related to deferred tax asset valuation issues and determining the level of authority needed to support tax return positions. Accounting tax research paper income taxes is an exciting and important subject for both students and tax faculty. Many forces collide at the intersection of 1 a government enforcing a complex income tax law; 2 a company seeking to minimize its global income tax burden while providing reliable financial statements to its users; and 3 a CPA firm providing assurance regarding the adequacy of the income tax expense accounts, and other related accounts, and the overall reliability of the financial statements including the footnote disclosures.

A project, as described in this column, using a corporation whose headquarters is close to the center of academic study, can provide a helpful bridge for accounting and tax students to see the important intersection of GAAP and tax, and be better prepared for their intended career path. Traps for the unwary: Tax Cuts and Jobs Act changes. Here is a list of changes together with perhaps unexpected nuances.

Qualified business income deduction regs. The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real estate businesses, and new proposed rules on the treatment of previously suspended losses. Toggle search Toggle navigation. Editor: Annette Nellen, J. Purpose of the Student Project The research project was designed to give students a better understanding of the application of Topic in the real world. Nature of the Project The project was an independent study in which graduate students committed to study a published annual report of a designated company for one semester.

Research Procedure As noted earlier, the first step was to identify accounts that involve 1 one set of rules for computing book income and 2 a different set of rules for computing taxable income on a U. Adapting Project for Use as a Regular Course Assignment Using this project in a stand-alone course requires students to commit more time than is usually required for an extra project in a standard tax course.

Benefits From the Project In many cases, tax research paper, students in a master of accountancy tax course are just a few months away from starting careers in public accounting or corporate accounting, etc. Conclusion Accounting for income taxes is an exciting and important subject for both students and tax faculty.

Duong is an international tax associate, and Ms. For more information about this column, please contact Prof. Godfrey at hgodfrey uncc. Latest News. Latest Document Summaries. Featured Articles. Most Read. Newsletter Articles. Tax Clinic.

 

Tax Research Paper | Tax Research Paper Topics Ideas

 

tax research paper

 

An indispensable starting point for tax research is a tax looseleaf. “Looseleaf” is a generic name for publications that, because of their frequent updating schedule, are issued in a ring-binder format, making it easy to remove superseded material and insert new pages. In the field of tax, looseleafs offer. Highlights of tax research In their paper, “Incentives for Tax Planning” in the Journal of Accounting and Economics (February–April ), authors Chris Armstrong, Jennifer Blouin, and David Larcker examine the annual compensation for tax directors employed by companies from through Their study examines proprietary data. Ideas For Writing Tax Research Paper. Tax seems to be a very dangerous thing that everybody has to go through annually but deciding a topic for tax research paper is not that dangerous trust me. There are numerous topics that can be used for tax research paper; this can be a great way to impart information about it to the taxpaying masses.