Assignment 2 Tax Reform
In this paper you will address increasing the tax revenue in the U.S. from corporations. Given the current economic condition in the U.S. discuss a tax strategy for raising revenue based on the following.
Write a 6-8 page paper in which you:Due Week 10 and worth 200 points
1. Research the most common tax loopholes used by corporations and partnership to avoid paying federal income tax. Discuss two (2) loopholes identified and what strategies you would
recommend to the federal government for closing these loopholes.
2. Evaluate whether or not the federal government benefits from allowing corporations to select S status.
3. Discuss whether you believe the current gift tax laws are fair to the taxpayer. Recommend a
change that you would like to incorporate into the tax code related to gift taxes.
4. Create an argument for or against abolishing estate taxes.
5. Recommend an alternative to the current federal taxation system that you believe would be fair to corporations and partnerships.
6. Use 4 to 6 external sources.
Your assignment must:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all
sides; references must follow APA or school-specific format. Check with your professor for any
additional instructions.
• Include a cover page containing the title of the assignment, the student- name, the professor-
name, the course title, and the date. The cover page and the reference page are not included in
the required page length.
The specific course learning outcomes associated with this assignment are:
• Analyze tax issues regarding S corporations.
• Analyze tax issues regarding the gift tax and the estate tax.
• Use technology and information resources to research issues in organizational tax research and
planning
• Write clearly and concisely about organizational tax research and planning using proper writing
mechanics.
Grading for this assignment will be based on answer quality, logic/organization of the paper, and
language and writing skills, using the following rubric.
Points: 200 Assignment 2: Tax Reform
Criteria
Unacceptable
Below 70% F
Fair
70-79% C
Proficient
80-89% B
Exemplary
90-100% A
1. Research the most
common tax loopholes
used by corporations and
partnership to avoid
paying federal income
tax. Discuss two (2)
loopholes identified and
what strategies you
would recommend to the
federal government for
closing these loopholes.
Weight: 20%
Did not submit or
incompletely
researched the
most common tax
loopholes used by
corporations and
partnership to avoid
paying federal
income tax,
incompletely
discussed two (2)
loopholes identified
and what strategies
you would
recommend to the
federal government
for closing these
loopholes.
Partially researched
the most common
tax loopholes used
by corporations and
partnership to avoid
paying federal
income tax, partially
discussed two (2)
loopholes identified
and what strategies
you would
recommend to the
federal government
for closing these
loopholes.
Satisfactorily
researched the
most common tax
loopholes used by
corporations and
partnership to avoid
paying federal
income tax,
satisfactorily
discussed two (2)
loopholes identified
and what strategies
you would
recommend to the
federal government
for closing these
loopholes.
Thoroughly
researched the
most common tax
loopholes used by
corporations and
partnership to avoid
paying federal
income tax,
thoroughly
discussed two (2)
loopholes identified
and what strategies
you would
recommend to the
federal government
for closing these
loopholes.
2. Evaluate whether or
not the federal
government benefits from
allowing corporations to
select S status.
Weight: 15%
Did not submit or
incompletely
evaluated whether
or not the federal
government
benefits from
allowing
corporations to
select S status.
Partially evaluated
whether or not the
federal government
benefits from
allowing
corporations to
select S status.
Satisfactorily
evaluated whether
or not the federal
government
benefits from
allowing
corporations to
select S status.
Thoroughly
evaluated whether
or not the federal
government
benefits from
allowing
corporations to
select S status.
3. Discuss whether you
believe the current gift
tax laws are fair to the
taxpayer. Recommend a
change that you would
like to incorporate into
the tax code related to
gift taxes.
Weight: 15%
Did not submit or
incompletely
discussed whether
you believe the
current gift tax laws
are fair to the
taxpayer,
incompletely
recommended a
change that you
would like to
incorporate into the
tax code related to
gift taxes.
Partially discussed
whether you believe
the current gift tax
laws are fair to the
taxpayer, partially
recommended a
change that you
would like to
incorporate into the
tax code related to
gift taxes.
Satisfactorily
discussed whether
you believe the
current gift tax laws
are fair to the
taxpayer,
satisfactorily
recommended a
change that you
would like to
incorporate into the
tax code related to
gift taxes.
Thoroughly
discussed whether
you believe the
current gift tax laws
are fair to the
taxpayer, and
recommended a
change that you
would like to
incorporate into the
tax code related to
gift taxes.
4. Create an argument
for or against abolishing
estate taxes.
Weight: 15%
Did not submit or
incompletely
created an
argument for or
against abolishing
estate taxes.
Partially created an
argument for or
against abolishing
estate taxes.
Satisfactorily
created an
argument for or
against abolishing
estate taxes.
Thoroughly created
an argument for or
against abolishing
estate taxes.
5. Recommend an
alternative to the current
federal taxation system
that you believe would be
fair to corporations and
partnerships Weight: 20% Did not submit or
incompletely
recommended an
alternative to the
current federal
taxation system that
you believe would
be fair to
corporations and
partnerships Partially
recommended an
alternative to the
current federal
taxation system that
you believe would
be fair to
corporations and
partnerships.
Satisfactorily
recommended an
alternative to the
current federal
taxation system that
you believe would
be fair to
corporations and
partnerships.
Thoroughly
recommended an
alternative to the
current federal
taxation system that
you believe would be fair to corporations and
partnerships.
6. Four to six (4-6)
references.
Weight: 5%
No references
provided.
Does not meet the
required number of
references; some or
all references poor
quality choices.
Meets number of
required references;
all references high
quality choices.
Exceeds number of
required references;
all references high
quality choices.,
7. Clarity and writing
mechanics.
Weight: 10%
More than 6 errors
present
5-6 errors present 3-4 errors present 0-2 errors present
.
.
USA 
India