In: Accounting
use
your favorite search engine to find the IRS' website ans locate
Publication 537:"Installment Sales." after...
use
your favorite search engine to find the IRS' website ans locate
Publication 537:"Installment Sales." after reviewing that
publication, answer the following questions: 1) which form is used
to report an installment sale? 2)what are the requirements to
report a sale on the installment basis for tax purposes? 3)If the
taxpayer receives money over several periods, why would a taxpayer
want to report a sale on the installment basis, rather than in the
tax period when the sale oringinated? 4) how would you advise your
tax client whether or not to elect the installment method? that is,
what factors would you incorporate in that recommendation? provide
specific details to support your opinion in your response