Anita Leland, a waitress in Atlantis Casino, reported tips of $467 to her employer last year. Two
Question:
a. How is the IRS able to determine the amount of tips received by a waitress in a casino?
b. If the IRS is correct in its determination of the tips received, is Atlantis subject to a penalty for not having withheld payroll taxes on all the tips Leland received during the year?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 77% (9 reviews)
a The IRS claims that several hundred casino waitresses and waiters fail to report about 10000 in ti...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
On a Federal income tax return filed five years ago, Andy inadvertently omitted a large amount of gross income. a. Andy seeks your advice as to whether the IRS is barred from assessing additional...
-
Wade filed his Federal income tax return on time but did not remit the balance due. Compute Wade's failure to pay penalty in each of the following cases. The IRS has not issued a deficiency notice....
-
Bill and Mary filed a joint Federal income tax return this year. Mary owns a 30% interest in MAJIC Partnership, a women's dress boutique. Mary's share of the partnership's net income is $280,000. Her...
-
An inverted pyramidal tank has an equilateral triangular base measuring 3 ft. on a side and an altitude of 7 ft. DSMIT adi a. How many gallons of water can the tank hold? b. What will be the wetted...
-
Display the total number of pounds of milk produced in each region during the 2006-2010 time period?
-
1. Prepare Camilia Communications's statement of retained earnings for the year ended July 31, 2018. Assume that there were no dividends declared during the year and that the business began on August...
-
Understand the impact of technological advances on globalization. L01
-
Suppose SSC has decided to distribute $50 million, which it presently is holding in very liquid short-term investments. SSCs value of operations is estimated to be about $1,937.5 million. SSC has...
-
Problem 5-34 Real Cash Flows Paul Adams owns a health club in downtown Los Angeles. He charges his customers an annual fee of $540 and has an existing customer base of 570. Paul plans to raise the...
-
A multiple regression model was used to relate y = viscosity of a chemical product to x1 = temperature and x2 = reaction time. The data set consisted of n = 15 observations. (a) The estimated...
-
Rena Reynolds, one of your firm's workers, has just come into the payroll department and says to you: ''I am thinking of amending my Form W-4 so that an additional $10 is withheld each week. That way...
-
Justin Holmes, an ex-employee, is entitled to a taxable fringe benefit during the first part of this year. Because he wasn't paid any wages this year, can his employer report the taxable fringe...
-
Assume that 50 births are randomly selected. Use subjective judgment to describe the given number of girls as (a) Significantly low, (b) Significantly high, or (c) Neither significantly low nor...
-
Using the figure below, draw the FBD , ?Shear Force and Bending Moment diagrams and find the maximum internal moment for the beam shown. 10 kNm 10 kN 3 m
-
Suppose the goods market is: Y = 1800 - 100i and the LM curve Y = 500 +591, where x is the last digit of your ID number. Determine the equilibrium income (Y), interest rate (i). Explain the role of...
-
Complete the chart: [1] Length, L (m) Period, T (s) LogL LogT 0.10 0.63 0.20 0.90 0.30 1.00 0.40 1.27 0.50 1.42 0.60 1.55 0.70 1.68 0.80 1.80 0.90 1.90 1.00 2.02 Plot the data T vs L. [4 (title, axes...
-
A solid metal sphere with a diameter of 2 cm and a mass of 8 g is used for the following heat transfer experiments. You can assume the temperature throughout the inside of the metal sphere is...
-
2) A car 1200 kg is in a skid Force of friction 3200N and force of air resistance 1600N. Find the following i) The net force and acceleration of the car ii) The time required to stop from 95 km/hr...
-
Discuss the underlying logic of managing brand portfolios.
-
The maximum pressure that can be developed for a certain fluid power cylinder is 15.0 MPa. Compute the required diameter for the piston if the cylinder must exert a force of 30 kN.
-
When is the full fair market value deduction not available on a transfer of property to charity?
-
On March 1 of this year, Stowe Company established a Petty Cash Fund, and the following petty cash transactions took place during the month: Mar. 1 Cashed check no. 314 for $ 100 to establish a Petty...
-
On March 1 of this year, Stowe Company established a Petty Cash Fund, and the following petty cash transactions took place during the month: Mar. 1 Cashed check no. 314 for $ 100 to establish a Petty...
-
Roberta Felino, owner of Robertas Beauty Salon, makes bank deposits in the night depository at the close of each business day. The following information for the first four days of April is available....
-
3. The nominal interest rate compounded monthly when your $7,000 becomes $11,700 in eight years is ________
-
An investor can design a risky portfolio based on two stocks, A and B. Stock A has an expected return of 21% and a standard deviation of return of 39%. Stock B has an expected return of 14% and a...
-
Advanced Small Business Certifica Drag and Drop the highlighted items into the correct boxes depending on whether they increase or decrease Alex's stock basis. Note your answers- you'll need them for...
Study smarter with the SolutionInn App