« previous next »

Author Question: Briefly explain the defenses established by the courts to protect against abuse of evidence from net ... (Read 58 times)

chads108

  • Hero Member
  • *****
  • Posts: 507
on: Jul 6, 2018
Briefly explain the defenses established by the courts to protect against abuse of evidence from net worth, source and application of funds and percentage markup methods of proof.
 
  What will be an ideal response?

Question 2

The quarterly report that shows the tax liability for federal employee withholding, FICA Social Security and Medicare (employee) and FICA Social Security and Medicare (employer).
 a. 941
  b. 940
  c. W-3
  d. 8890


wergv

  • Sr. Member
  • ****
  • Posts: 365
Reply #1 on: Jul 6, 2018
Answer to Question 1

 Net worth method: The user must establish a beginning net worth with reasonable certainty, consider all relevant leads, and establish a likely source of funding for the increase in net worth. Moreover, the defense is given wide latitude in presenting evidence of beginning net worth.
 Source and application of funds: The user must establish beginning cash on hand with reasonable certainty, and expenditures cannot be speculative or arbitrary.
 Percentage markup: The use of reliable percentages (ratios) and a supportable base are required. Even so, the IRS cautions against the use of this method, and no judicial precedent has been identified or cited.

Answer to Question 2

A


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The top five reasons that children stay home from school are as follows: colds, stomach flu (gastroenteritis), ear infection (otitis media), pink eye (conjunctivitis), and sore throat.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Fewer than 10% of babies are born on their exact due dates, 50% are born within 1 week of the due date, and 90% are born within 2 weeks of the date.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Experimental evidence of the effect of allelochemicals on plant production. Experimental evidence of the effect of allelochemicals on plant production.
Physical findings of the skin indicative of substance abuse Physical findings of the skin indicative of substance abuse
Evidence-based practice: skin assessment Evidence-based practice: skin assessment
Evidence for big game hunting by archaic H. sapiens is suggested by the excavations at the Boxgrove Evidence for big game hunting by archaic H. sapiens is suggested by the excavations at the Boxgrove
Evidence of Creep Evidence of Creep
Visible evidence of mosaic tissues in a human female Visible evidence of mosaic tissues in a human female
Video: Summation - defined, spatial, temporal & AP generation or not

For a complete list of videos, visit our video library