Many legislative, administrative, and judicial resources are available on the Internet. These can be located using a search engine or a tax directory site on the Internet. This assignment is designed to acquaint you with some of the tax directory sites. Go to one of the tax directory sites provided in Exhibit and describe the types of information you can access from the site. Use at least three links to other sites and describe the information at each of thesites.
Answer to relevant QuestionsWhat effect does a property's use have on the cost recovery allowable on the property?What are the tax implications of a taxpayer's self construction of assets for use in the taxpayer's trade or business?When is the alternate valuation date for valuing inherited property? When elected, are all assets valued on the alternate date? Explain.Are punitive damages taxable? Explain.The IRS has established procedures to simplify taxpayers’ choice of entity for tax purposes. The procedures are referred to as the ‘‘check-the-box’’ regulations. Use the Internet to find articles or discussions ...
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