Acc 565 Week 4 Assignment 2

ACC 565 WEEK 4 ASSIGNMENT 2

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ACC 565 WEEK 4 ASSIGNMENT 2,

Being The CPA, I would like to provide my recommendations on the issues mentioned by you as follows:

Applicable Laws:

As for the compensation, which is supposed to be paid to the shareholders of the company, there are some strict regulations under IRC and supporting authorities acting for the same. No compensation can be provided to any shareholder more than the amount paid to any other shareholder of the company is the same situation and circumstances. Redemption of stock held by the company is also considered as the compensation to the company so the company is not having the stock ownership any more. IRS rules explain that the losses, which are incurred as a result of any passive activity, are not allowed in a scenario where the income of the person increases the passive activities performed. The only exception to this the case is where the claimant is a real state personal as per the IRS rules.

For such personal there are no limits to the loss and income arising and such income and loss is not supposed to be arising from the passive activities.

Issues under Consideration:

You are under consideration by the IRS and a notice is served to you called the notice of proposed Adjustments.

Being The CPA, I would like to provide my recommendations on the issues mentioned by you as follows:

Applicable Laws:

As for the compensation, which is supposed to be paid to the shareholders of the company, there are some strict regulations under IRC and supporting authorities acting for the same. No compensation can be provided to any shareholder more than the amount paid to any other shareholder of the company is the same situation and circumstances. Redemption of stock held by the company is also considered as the compensation to the...