Internal Revenue Tax Rules
Write a 4–5 page paper in which you do the following:
Use your textbook, the Internet, Internal Revenue Service | An Official Website of the United States Government, and Strayer Library to research the three major forms of corporate organizations: partnerships, S corporations, and corporations.
Compare and contrast the tax rules and treatment applicable to those three forms of organization and the major way in which the tax treatment affects the shareholders or partners.
Explain at least two reasons why a business owner might opt for one form of organization over another. Provide support for your rationale.
Identify two sources of tax guidance (for example, IRS code, Revenue Procedure) for each form of organization and how it defines a component of the tax policy for that form of organization.
Research an organization by identifying its entity type (corporation, s-corporation, or partnership) and describe how that organization’s tax methods are detailed in their financial reports.
Internal Revenue Tax Rules
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Internal Revenue Tax Rules
In the United States, federal tax laws are administered and enforced by the Internal Revenue Service (IRS). The IRS has different tax rules for various organizations, including partnerships, S-corporations, and corporations. According to the Internal Revenue Service (2021), a partnership is an unincorporated organization with two or more members whose primary purpose is to conduct business, financial operation, and trade and divide the profits of their ventures. H...