For Assignment 1, you will conduct research on https://www.irs.gov, consult your textbook, and refer to other similar, reputable resources on taxation. Your goal is to compare the three major forms of corporate organizations: partnerships, s-corporations, and corporations. You will then select a domestic organization, identify its entity type, and describe how the organizations tax methods are detailed in its financial report.

To complete Assignment 1, write a four to five (4-5) page paper in which you do the following:

1. 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.
2. Explain at least two reasons why a business owner might opt for one form of organization over another. Provide support for your rationale.
3. Identify two sources of tax guidance (e.g. IRS code, Revenue Procedure) for each form of organization and how it defines a component of the tax policy for that form of organization.
4. Research an organization by identifying its entity type (corporation, s-corporation, or partnership) and describe how that organizations tax methods are detailed in their financial reports.
5. Use at least three quality academic resources for this assignment. Note: Wikipedia and similar websites do not qualify as academic resources.