(1) Go to www.taxalmanac.org and use the website to find 61(a). What is defined in this...

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(1) Go to www.taxalmanac.org and use the website to find § 61(a).

What is defined in this Code Section? Is the definition broad or narrow?

(2) Go to www.legalbitstream.com and find the case in which Mark Spitz, the former Olympic gold medalist, is the petitioner. Answer the following questions about the case:

a. What tax years are at issue in the case?

b. In what year was the case decided?

c. Did the court decide in favor of Mr. Spitz or the IRS?

d. Were any penalties imposed on Mr. Spitz? Why or why not?

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Related Book For  answer-question

South Western Federal Taxation Individual Income Taxes 2017

ISBN: 9781305873988

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen

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