Egolf Corporation failed to include $300,000 of taxable interest income on its 2017 calendar year Form 1120.
Question:
a. What is the last day on which the IRS may assess additional tax for Egolf's 2017 taxable year?
b. How would your answer change if Egolf's gross income reported on the 2017 return was only $1 million?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Related Book For
Principles Of Taxation For Business And Investment Planning 2018
ISBN: 9781259713729
21st Edition
Authors: Sally Jones, Shelley C. Rhoades Catanach, Sandra R Callaghan
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