...AACSB Table 10-1: Summary of Faculty Qualifications, Development Activities, and Professional Responsibilities Date Range: January 1, 2007 - August 1, 2012 Accounting: Professor | | | | | | | Five-Year Summary of Development Activities Supporting AQ or PQ Status | | Name | Highest Earned Degree & Year | Date of First Appointment to the School | Percent of Time Dedicated to the School's Mission | Acad Qual | Prof Qual | Other | Intell. Contrib. | Prof. Exper. | Consult. | Prof. Develop. | Other Prof. Activities | NormalProfessionalResponsibilities | | | | | | | | | | | | | | Som Bhattacharya | Ph D, 1994 | | 100.0 | YES | | | 12 (5) | Service: 0Work: 0 | 0 | 0 | Editor/Review: 6Other:13 | UG, GR, RES, SER and ADM | Intellectual Contributions (12) Hopwood, W., Bhattacharya, S., Premuroso, R. (2011). Tasteless Tea Company: A Comprehensive Revenue Transaction Cycle Case Study. Issues in Accounting Education, 26(1), 163-179. Cao, J., Nicolaou, A., Bhattacharya, S. (2010). A Longitudinal Study of market and Firm Level Factors Influencing ERP Systems’ Adoption and Post-Implementation System Enhancement Options. 7th Annual International Conference on Enterprise Systems, Accounting, and Logistics. Rhodos: ICESAL. Behara, R., Bhattacharya, S. (2008). DNA of a successful BPO. Journal of Service Science, 1(1), 111-118. Premuroso, R., Bhattacharya, S. (2008). Do Early Members of XBRL International Signal Superior Corporate Governance and Future...
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...ATENEO CENTRAL BAR OPERATIONS 2007 Taxation Law SUMMER REVIEWER PART I – GENERAL PRINCIPLES TAXATION – power inherent in every sovereign State to impose a charge or burden upon persons, properties, or rights to raise revenues for the use and support of the government to enable it to discharge its appropriate functions SCOPE OF TAXATION TAXATION IS: Unlimited, Far-reaching, Plenary Comprehensive Supreme STAGES OF TAXATION: (LAP) 1. Levy 2. Assessment 3. Payment Basic Principles of a Sound Tax System 1. Fiscal Adequacy 2. Theoretical Justice 3. Administrative Feasibility INHERENT LIMITATIONS (SPING) 1) Situs or territoriality of taxation 2) Must be for a Public purpose • Test is whether proceeds will be used for something which is the duty of the State to provide. • Legislature is not required to adopt a policy of “all or none.” • Incidental benefit to individual does not defeat exemption 3) International comity • Property of a foreign State of government may not be taxed by another 4) Non-delegability of the taxing power • Contemplates power to QuickTime™ and a TIFF (Uncompressed) decompressor determine kind,thisobject, extent, are needed to see picture. amount, coverage, and situs of tax; • Distinguish from power to assess and collect • Exemptions: (a) presidential taxing powers; (b) local governments 5) Exemptions of Government agencies • Taking money from one pocket • to the other Applies only to entities exercising government functions (acta jure imperii) CONSTITUTIONAL...
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...complete the training contained in this document Tax Preparers, Quality Reviewers, Greeters/Screeners and Site Leaders all complete some in-person training, which already includes VSC. These volunteers do not need to complete the training in this document, unless otherwise instructed by a Ladder Up staff member or trainer. • 1 WHAT ARE THE STEPS TO COMPLETE VSC? If you’ve determined you need to complete VSC in this format, please do the following: 1. 2. Read the material on the next several pages. Answer the questions on pages 8-9 and email your answers to volunteers@goladderup.org. Include in your email: • • • Your first and last name, as listed in your volunteer profile on our website The answers (in order) to the 5 questions on the exam The date and TAP site of your first volunteer session, if you have scheduled it 3. Turn in your signed Volunteer Agreement (Form 13615) to the Site Leader at your first TAP session. • • You can find the agreement on the Volunteer Resources page on our website, or print one out at the TAP site on your first day. The form will be available for printing on each of the laptops. Your Site Leader will return your agreement and indicate he/she has verified your photo ID to the Ladder Up office. That’s it! Let’s get started! 2 Volunteer Standards of Conduct Last update: January 13, 2012 VOLUNTEER STANDARDS OF CONDUCT Last year, the Treasury Inspector General for Tax Administration (TIGTA) and IRS Stakeholder Partnerships...
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...Research Memo Date: February 27, 2014 Preparer: Michele Reviewer: Brian Subject: Personal use of Delta Skymiles acquired from company purchased business trips Facts: Latrell recently used his Delta Skymiles to purchase a free roundtrip ticket to Milan, Italy (value $1,200). The frequent flyer miles used to purchase the ticket generated from Latrell’s business travel as a CPA. Latrell’s employer paid for his business trips, and he did not get taxed on the travel reimbursements. Issue: How much income, if any, does Latrell have to recognize because of the purchasing an airline ticket with Skymiles earned from business travel? Authorities: IRS Announcement 2002-18 Conclusion: According to the IRS Announcement 2002-18, Latrell does not need to recognize any of the frequent flyer miles ($1,200 value) used when he purchased his round trip ticket to Milan, Italy. The miles redeemed were for a free airline ticket and he did not convert the miles to cash; so there is no taxable income from the transaction. Analysis: The IRS Announcement 2002-18 states “these promotional benefits may generally be exchanged for upgraded seating, free travel, discounted travel, travel-related services, or other services or benefits. Inquiries centered on the taxability of frequent flyer miles or other promotional items that are received as the result of business travel and used for personal purposes. There are numerous technical and administrative issues relating to these benefits on...
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...USE THE FOLLOWING FORMAT: (See Exhibit 2-9, Sample Research Memo, on page 2-21 of text, for more details) MEMO #: 4 GROUP #: 7 / Writer: Jabari Brown / Reviewers: ________________________ FACTS: Connie Cook owns her own marketing consulting business that she runs out of her home. She paid $15,000 to join a country club in order to meet potential marketing clients. This year Connie also paid $4,300 in greens fees when golfing with clients. ISSUE: Can Connie deduct the $15,000 cost of country club dues and the $4,300 for the golf played with clients? AUTHORITIES: 1. Pension Federal Tax Regulations, regulation,§1.274-2.,Internal Revenue Service, Disallowance of deductions for certain expenses for entertainment, amusement, recreation, or travel 2. Pension Federal Tax Regulations,regulation,§1.274-2.,Internal Revenue Service, Disallowance of deductions for certain expenses for entertainment, amusement, recreation, or travel CONCLUSION: Connie will be able to deduct the cost of the country club dues and the green fees. ANALYSIS: When dealing with country club memberships and greens fees for business the tax law this fall under would be Disallowance of deductions for certain expenses for entertainment, amusement, recreation, or travel. The Pension Federal Tax regulation in the general rule section states that no deduction shall be allowed for what are considered entertainment activities unless the taxpayer establishes that the expenditure was directly...
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...TAX RESEARCH MEMO TEMPLATE June 30, 2015 Relevant Facts Robert Jones has just rendered service for a taxpayer as an expert witness in a case heard by the U. S. Tax Court. The taxpayer is requesting reimbursement for Jones’ fees and for those amounts paid to her attorney in presenting the case. Jones’ billing rate for this type of engagement is $500 per hour, the market rate for such services in his city, plus out- of- pocket expenses (e. g., auto mileage, computer charges). Specific Issues How much of Jones’ fee will the taxpayer recover? Conclusions Internal Revenue Code §7430 (c) authorizes the IRS and federal courts to award recovery of court cost to any taxpayer who prevails against the United States. The recovery of court cost includes attorneys’ fees and taxpayer’s expert witness fees to the taxpayer(s) when [1] the IRS fails to establish that its position in an administrative or court proceeding was substantially justified and [2] when the taxpayer complies with all of the following 7430’s procedural requirements. It is assumed that the following requirements are pertinent to this case: •The taxpayer did not unduly prolong the litigation •The taxpayer pursued the case through IRS administrative appeals •The taxpayer then “substantially prevailed” in the Tax Court. The taxpayer has the right to request an award of attorneys’ fees and taxpayer’s expert witness fees within 30 days by formal letter or/and at the conclusion of the proceeding; failure...
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...primary hardware behind the network is what we call a mainframe. The mainframe is located in the Martinsburg Computing Center with a backup location in Detroit. Additional tape storage areas is located in Washington, DC within the Treasury Department. Each service center has a direct connection to the mainframes through an intranet. The intranet is tied to all IRS offices nationwide. The IT department which supports the network is primarily based in Martinsburg and Detroit and have support staff within each service center. All servers and primary databases are maintained in these two locations. The 10 service centers have several operations within each service center ranging from collections to data entry. The data entry area receives the tax returns, codes and edit them for input into the computer system so that the data can be transmitted to the mainframe. Once the data entry area has completed their task and the mainframe has verified the data, that data is then shared with all IRS offices. Individual operations have multiple workgroups, in which each workgroup on average has 16 employees. Each employee has a workstation which is tied directly into that service...
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...Ampersand LLP Beaumont, TX TO: Partner FROM: Staff Accountant DATE: March 24, 2016 ------------------------------------------------- SUBJECT: Memorandum Privileged and Confidential Relevant Facts In 2013, Mr. Hobby suffered serious bodily injury while working at a local refinery in Beaumont. On his 2013 tax return, he deducted medical expenses of $25,000. On his 2014 tax return, he deducted medical expenses of $15,000. In 2015, Hobby won a civil lawsuit connected to his injury in 2013. He was awarded as follows: Punitive damages $150,000.00, reimbursement of medical expense $40,000.00, emotional distress $75,000.00, pain/suffering $200,000.00, interest $7,500.00, and attorney’s fees $25,000.00, totaling $497,500.00. Specific Issues Which portion of the award for damages is taxable in 2015? Support and Analysis Per IRC §104(a)(2), any damages (excluding punitive) received on account of personal physical injury are excluded from gross income. Therefore, both $75,000 for emotional distress and $200,000 for pain and suffering are a result of the injury and can be excluded from income. Treas. Reg. §61.1-14(a) specifies “for example, punitive damages…are gross income” meaning that the $150,000 of punitive damages from this lawsuit are considered gross income. These are considered income because the punitive award is primarily to punish the wrongdoer, and is not compensatory for the physical injury. However, IRS publication 4345 (Rev 4-2015) explains that income...
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...spending in infrastructure, health, energy, education, unemployment insurance, social welfare programs, and many other areas of government interest. To address concerns from political opposition to that Act, ARRA included strong provisions governing transparency of the spending of taxpayer money. ARRA funds would be dispensed with strong requirements that taxpayers be able to monitor how their tax money is being spent. A major beneficiary of the stimulus funds was the Department of Transportation. To address the transparency issue, the department established a number of websites supported by servers and databases that the public could access to monitor the spending of their tax dollars. The DOT’s expanded web interface inherently exposed it to greater risk. This case study reviews an audit of that risk, the department’s shortfalls in mitigating the risk, its systems that may have contributed to those failures, and this reviewer’s recommended solutions. Case Study Review Situation That legislation required unprecedented levels of transparency and accountability for the billions of tax dollars that would be spent on various programs including infrastructure, research, education, arts, and sciences. For...
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...Walker Kyle # 7. Social Security is a government program supported by a dedicated tax, like highway maintenance. You can say that assigning a particular tax to a particular program is a waist of time, but in fact such assignments have both legal and political force. The purpose of that tax increase was to maintain the dedicated tax system into the future, by having Social Security’s assigned tax take in more money than the system paid out while the baby boomers were still working, then use the trust fund built up by those surpluses to pay future bills. That strategy was highly successful. The date at which the trust fund will run out, according to Social Security Administration projections, has receded steadily into the future: 10 years ago it was 2029, now it’s 2042. As people high up, and others have pointed out, the SSA estimates are very conservative, and moderate projections of economic growth push the end date into the indefinite future. It is primarily funded through a dedicated payroll tax. During 2011, total benefits of $736 billion were paid out versus income (taxes and interest) of $805 billion, a $69 billion annual surplus. An estimated 158 million people paid into the program and 55 million received benefits, roughly 2.87 workers per beneficiary. Reform proposals continue to circulate, due to a long-term funding challenge faced by the program. Starting in 2011 and continuing after, program expenses are expected to exceed cash revenues. This is due to the aging...
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...What are the options? pricing and taxation policy reforms to redress excessive alcohol consumption and related harms in australia natacha Carragher & Jenny Chalmers1 nsW Bureau of Crime statistics and research 1 Natacha Carragher, Research Fellow, ATCL, BSc(Hons), PhD. Jenny Chalmers Senior Research Fellow, BEc(Hons), MEc, PhD. Drug Policy Modelling Program, National Drug and Alcohol Research Centre, University of New South Wales. Address for correspondence: Dr Natacha Carragher, National Drug and Alcohol Research Centre, University of New South Wales, Sydney, NSW 2052. Tel: 02 9385 0249. Fax: 02 9385 0222. Email: n.carragher@unsw.edu.au 2011 Published by the NSW Bureau of Crime Statistics and Research Attorney General’s Department Level 8 St James Centre 111 Elizabeth Street Sydney 2000 Australia Phone: +61 (2) 9231 9190 Fax: +61 (2) 9231 9187 Email: bcsr@agd.nsw.gov.au Website: www.bocsar.nsw.gov.au ISBN 978-1-921824-33-3 This report is available in pdf format on our website and may be provided in alternative formats. Please contact the Bureau on 02 9231 9190 or email us at bcsr@agd.nsw.gov.au © State of New South Wales through the Attorney General’s Department of NSW 2011. You may copy, distribute, display, download and otherwise freely deal with this work for any purpose, provided that you attribute the Attorney General’s Department of NSW as the owner. However, you must obtain permission if you wish to (a) charge others for access to the work (other than...
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...What are the options? pricing and taxation policy reforms to redress excessive alcohol consumption and related harms in australia natacha Carragher & Jenny Chalmers1 nsW Bureau of Crime statistics and research 1 Natacha Carragher, Research Fellow, ATCL, BSc(Hons), PhD. Jenny Chalmers Senior Research Fellow, BEc(Hons), MEc, PhD. Drug Policy Modelling Program, National Drug and Alcohol Research Centre, University of New South Wales. Address for correspondence: Dr Natacha Carragher, National Drug and Alcohol Research Centre, University of New South Wales, Sydney, NSW 2052. Tel: 02 9385 0249. Fax: 02 9385 0222. Email: n.carragher@unsw.edu.au 2011 Published by the NSW Bureau of Crime Statistics and Research Attorney General’s Department Level 8 St James Centre 111 Elizabeth Street Sydney 2000 Australia Phone: +61 (2) 9231 9190 Fax: +61 (2) 9231 9187 Email: bcsr@agd.nsw.gov.au Website: www.bocsar.nsw.gov.au ISBN 978-1-921824-33-3 This report is available in pdf format on our website and may be provided in alternative formats. Please contact the Bureau on 02 9231 9190 or email us at bcsr@agd.nsw.gov.au © State of New South Wales through the Attorney General’s Department of NSW 2011. You may copy, distribute, display, download and otherwise freely deal with this work for any purpose, provided that you attribute the Attorney General’s Department of NSW as the owner. However, you must obtain permission if you wish to (a) charge others for access to the work (other than...
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...Subject to constitutional and inherent restrictions, the power of taxation is regarded as comprehensive, unlimited, plenary and supreme. Scope of Legislative Taxing Power 1. Amount or rate of tax 2. Apportionment of the tax 3. Kind of tax 4. Method of collection 5. Purpose/s of its levy, provided it is for public purpose 6. Subject to be taxed, provided it is within its jurisdiction 7. Situs of taxation TAXES – enforced proportional contributions from the persons and property levied by the law-making body of the State by virtue of its sovereignty in support of government and for public needs. Characteristics of Taxes 1. forced charge; 2. pecuniary burden payable in money; 3. levied by the legislature; 4. assessed with some reasonable rule of apportionment; (see theoretical justice) 5. imposed by the State within its jurisdiction; 6. levied for a public purpose. Requisites of A Valid Tax 1. should be for a public purpose 2. the rule of taxation shall be uniform 3. that either the person or property taxed be within the jurisdiction of the taxing authority 4. that the assessment and collection of certain kinds of taxes guarantees against injustice to individuals, especially by way of notice and opportunity for hearing be provided 5. the tax must not impinge on the inherent and Constitutional limitations on the power of taxation Theories and Bases of Taxation 1....
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...CLASS 1.1 Important concepts Entities – tax versus legal • Tax entities o People, partnerships, joint venture, companies … are considered to be entities for the purposes of calculating income tax. • Legal entities o Companies, which have separate legal personalities, are legal entities. Income flows • Income should be considered as a cash flow stream, where timing is important. • The question is, when the income recognised as earned or deducted (because tax delayed is tax denied)? CLASS 1.2 Patterns of taxation Income tax • Income tax is a progressive system. • Income tax is mainly a rich person’s tax once franking credits are taken into account to produce an “effective tax rate”. • Wealthy people pay less tax overall by reducing their tax burden through using the lower rate paid on capital gains and other tax minimisation schemes. • Total tax as a percentage of GDP is lower in Australia compared to many other countries across the world. However, these results must be considered in light of the high level of income (where it may not be as much of a burden to pay high taxes where there is high income) and quality of public goods provided in counties such as Sweden (which has the highest total tax rate as a percentage of GDP). Justifications for taxation Why do we need taxes? • Public goods argument: the government can provide some benefits to society better than anyone else. Examples include defence, and law and order. • Market failure...
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...OurOur responsibility money, A Citizens’ Guide to Monitoring Government Expenditures by Vivek Ramkumar T H E I N T E R N AT I O N A L B U D G E T P R O J E C T Table of Contents Foreword and Acknowledgments PART I Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Introduction: Why Civil Society Groups Need to Track and Monitor Budget Spending . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Chapter 1: Overview of the Budget Cycle . . . . . . . . . . . . . . . . . . . . . . . . 6 Chapter 2: Why Government Expenditures Can Deviate from the Annual Budget . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 PART II The Budget Execution Process . . . . . . . . . . . . . . . . . . 13 Chapter 3: The Budget Execution Process . . . . . . . . . . . . . . . . . . . . . . 14 Chapter 4: Case Studies on Successful Civil Society Initiatives to Monitor Budget Execution . . . . . . . . . . . . . . . . . . . . . . . . . 21 1: MKSS Undertakes Social Audits in India . . . . . . . . . . . .21 2: CSCQBE Carries Out Public Expenditure Tracking Surveys in Malawi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31 Chapter 5: Other Successful Initiatives in Monitoring Budget Execution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .39 PART III The Procurement Process . . . . . . . . . . . . . . . . . . . . . . 45 Chapter 6: The Procurement Process . . . . . . . ...
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