Research Memo Problem $($Gambling$)$

Gilbert Gomez has come to you for help filing his $2023$ tax return. Gilbert has never filed his taxes, as this is his first year on his own. He has decided to seek your assistance this year. Gilbert is a waiter, and he also gambles extensively by playing poker with his friends. Gilbert feels the income from gambling is so small $$$7,000$ this year$)$ that he will not have to claim the income. Furthermore, he does not have any receipts for this income $($it is all cash$)$ and therefore believes he does not have to claim this as income. He also believes that by claiming the income this year, he may get in trouble for not claiming the income in past years. Gilbert has come to you and asks if he is correct, that he does not have to include the receipts from the gambling as income since they are in cash and there are no records of the earnings.

a$.$ Use the RIA Checkpoint Research tax library to determine how much, if any, of Gilbert's gambling receipts need to be included in income.

b$.$ Write a memo to communicate your results to your supervisor using the five basic parts: $(1)$ the facts, $(2)$ issues, $(3)$ authority list, $(4)$ conclusion, and $(5)$ analysis. The purpose of the memo is to inform others of the research question and it should be written in an objective manner by discussing all relevant authorities that support as well as conflict with the answer.

c$.$ After you have researched your question and have written a memo for the file please write a letter to your client summarizing your research and giving them your recommendation$($s$).$

d$.$ Please make sure that your memo and your letter is grammatically correct and that there are no spelling errors and that you follow the format of the attached Sample Research Memo and Sample Client Letter.

e$.$ Submit both the Memo and the Client Letter $($two separate assignments$)$ in Blackboard under the Research Memo Assignment Part $2$ and Part $3.$ See Blackboard for submission cutoff.