Open the Module Two Income List found in the Supporting Materials section and select three cases to research. Use the Module Two Income Assignment Template found in the What to Submit section and enter the names of the selected cases by copy and pasting the title into the template row labelled Case Selected. Then, complete the table for each of the three cases you’ve selected. Do this for each case to demonstrate your application of the research process using the Tax Research Guide found in the Supporting Materials section to perform your research. Be sure to cite your sources as shown in the example, specifically the IRC location, and interpret your understanding of the IRC language.
Based on your research, you will gauge your opinion of the tax position for each case and the confidence level followed by your interpretation of the IRC. You’ll also make suggestions or requests for further information, as needed.
Specifically, you must address the following rubric criteria for each of the three cases you choose to research:
Identify the research topic using specific words to describe the intent. Include the following:
Identify the area to be researched.
Specify the approach to the research to determine taxability.
Identify a primary source using the IRC section number that applies to the case research topic. Include the following:
Use resources listed in supplemental materials
Mirror the example on the template and cite the IRS code. Be specific.
Identify a secondary source using the section of an IRS publication that clarifies the issue. Include one or more of the following:
IRS publications
IRS forms and instructions
IRS articles
Identify a supplemental source that describes the topic in plain language. Include one or more of the following:
Professional organizations
Professional articles
State an opinion on whether income is taxable or nontaxable that is supported by research.
Select a confidence level in the research. Choose high, medium, or low.
Interpret the confidence level by connecting the research to the determination of taxability, making specific points. Include the following:
Explain why the research topic is taxable or not based on research.
Determine if additional information is needed to increase your confidence level.
