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THE COMPANY OF FOR MY ARP IS NORDSTROM INC. YOU HAVE TO FIND ITS 2020 10K FORM TO ANSWER Choose a tax issue specifically related

THE COMPANY OF FOR MY ARP IS NORDSTROM INC. YOU HAVE TO FIND ITS 2020 10K FORM TO ANSWER

Choose a tax issue specifically related to your ARP business or industry. Utilize at least three different tax websites (types of sources) discussed in Chapter 7 of Accounting and Auditing Research: Tools and Strategies, and summarize the information on the tax issue provided there. Do the websites agree on this issue or are there differences? Which of these websites provides the primary authority on the issue?

Some examples of tax issues include:

  1. Deductible meal and entertainment expenses
  2. Deduction for foreign travel
  3. Tax consequences of an athletic scholarship
  4. Taxation of long-term capital gains
  5. Recognition of income on extinguishment of debt
  6. Whether an accrual basis securities firm has gross income under sec. 451(a) on the trading date or the next year on the settlement date when all the work is performed, payment is due, and money received.

these are further instructions from the professor. First, read your SEC Form 10K report on your company and identify the types of taxes paid (outside of the normal payroll taxes) that may be unique to your company/industry. Next, review Chapter 7 of your text (you will need to cite the text, so be sure you have it as I will be looking at the citation) including the page number and the actual websites discussed. Using the different tax websites, explain how each relates to the unique tax identified for your company and/or industry. Compare and contrast (include these as headers) in your discussion post on how the websites align with the tax selected. Finally, which websites provides the authoritative guidance on your specific tax paid by your company? If it isn't in the websites, provide the website and specific guidance. Include at least 2 other citations/support on both your initial discussion and responses to peers.

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