SUS ACC 315- Personal Income Tax Accounting Tax Research Project OBJECTIVE The objective of this exercise is to perform appropriate research and analysis and to prepare a report to a client. The client is an individual who is considering on withdrawing funds from an Individual Retirement Account, which has a current balance of about $1,500,000. The client is age 56. The client and spouse file a joint tax return and currently have adjusted gross income of about $85,000 and do not expect any significant changes for the next five to seven years. The client is interested in knowing how distributions from their Individual Retirement Account can begin this year without incurring any early withdrawal penalty. The client is very quantitatively oriented and so would be very interested in knowing the method(s) of calculating the allowable distributions. In addition, if multiple options exist, the client is interested in your analysis of the relevant considerations in selecting a calculation method, as well as knowing how acceptable changes can be made in the future to the payment structure while avoiding any penalties SUBMISSION The research report is due no later than November 14, 2018. The report should appropriately reference any sources used Any electronic submissions in Word 97-2003 format should be sent to jhav@wilson.edu. Remember to include your name and course identification in the document as well as in the file name of any electronic submissions. SUS ACC 315- Personal Income Tax Accounting Tax Research Project OBJECTIVE The objective of this exercise is to perform appropriate research and analysis and to prepare a report to a client. The client is an individual who is considering on withdrawing funds from an Individual Retirement Account, which has a current balance of about $1,500,000. The client is age 56. The client and spouse file a joint tax return and currently have adjusted gross income of about $85,000 and do not expect any significant changes for the next five to seven years. The client is interested in knowing how distributions from their Individual Retirement Account can begin this year without incurring any early withdrawal penalty. The client is very quantitatively oriented and so would be very interested in knowing the method(s) of calculating the allowable distributions. In addition, if multiple options exist, the client is interested in your analysis of the relevant considerations in selecting a calculation method, as well as knowing how acceptable changes can be made in the future to the payment structure while avoiding any penalties SUBMISSION The research report is due no later than November 14, 2018. The report should appropriately reference any sources used Any electronic submissions in Word 97-2003 format should be sent to jhav@wilson.edu. Remember to include your name and course identification in the document as well as in the file name of any electronic submissions
