Corporation Tax Return Assignment

You will complete page 1 of the Form 1120 and the Schedule M-1 on page 5 of the Form 1120. You do NOT need to complete the balance sheet or M-2 portions of page 5. You will also be required to complete a book-to-tax reconciliation (see attached Excel file). You are given the book numbers and you will input the book-tax temporary or permanent differences in the spreadsheet. The columns foot across so your book numbers plus the adjustments, negative for debit and positive for credit, will total the taxable number. C Corporation Tax Return Assignment SMITH Corporation is a calendar-year corporation that began business on January 1, 2014. For 2014, it reported the following information in its current year audited income statement. Notes with important tax information are provided below. Required: Identify the book-to-tax adjustments for SMITH. a) Reconcile book income to taxable income and identify each booktax difference as temporary or permanent. b) Compute SMITHs regular income tax liability. c) Complete SMITHs Schedule M-1, page 5 of Form 1120 d) Complete SMITHs Form 1120, page 1 (use 2013 form if 2014 form is unavailable). Ignore estimated tax penalties when completing this form. For a custom paper on the above topic, place your order now! What We Offer: On-time delivery guarantee PhD-level writers Automatic plagiarism check 100% money-back guarantee 100% Privacy and Confidentiality High Quality custom-written paper

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