Happy Gilmore
Tax Issues Identifying Project: ACCT 3350: Spring 2013
You can choose a movie from the list below. Your goal is to identify federal tax issues and how the tax law should be applied. Also, if relevant, discuss how the actions of the character involved would be altered if significantly influenced by the tax factors.
Don’t try to do this project based on your recollection of the movie: you will overlook possible tax issues that way.
The write up should be no longer than 7 double spaced pages. Your grade will reflect how well you identified the issues, how deeply you discussed them, how well you resolved them. The grade will also factor in your writing.
The paper should be organized by identifying the tax issue, how it is dealt with in the movie and what the tax consequences are to the character.
Movie: Happy Gilmore (1996)
DUE DATE: March 21, 2013 at 10:00am
Carolina Escobar
Today’s Date: March 17, 2013
Based on The Happy Gilmore movie Grandma Gilmore lost her belongings and house to the IRS for past due taxes in the amount of $270,000.00. Grandson Happy Gilmore saw an opportunity to get his Grandma’s house back by playing in a golf tournament so he can win enough money to pay off the IRS and get grandma Gilmore’s house back. At this point in April as the movie mention grandma Gilmore is in a nursing home and she is now a relative dependent to grandson Happy Gilmore even though she is not living in the same home as her grandson Happy Gilmore but he Is providing more than half of her support; and grandson Happy Gilmore is now entering the golf tournament.
At the end of the 90 day grace period the IRS give Grandma Gilmore to come up with the back taxes grandson Happy Gilmore was able to put together $275,000.00 towards the payoff of grandma Gilmore house. Grandson Happy Gilmore raised $220,000.00 from the golf tournaments and raised another $55,000.00 from a subway sponsorship, these two amounts will be taxed differently, winnings verses
You can choose a movie from the list below. Your goal is to identify federal tax issues and how the tax law should be applied. Also, if relevant, discuss how the actions of the character involved would be altered if significantly influenced by the tax factors.
Don’t try to do this project based on your recollection of the movie: you will overlook possible tax issues that way.
The write up should be no longer than 7 double spaced pages. Your grade will reflect how well you identified the issues, how deeply you discussed them, how well you resolved them. The grade will also factor in your writing.
The paper should be organized by identifying the tax issue, how it is dealt with in the movie and what the tax consequences are to the character.
Movie: Happy Gilmore (1996)
DUE DATE: March 21, 2013 at 10:00am
Carolina Escobar
Today’s Date: March 17, 2013
Based on The Happy Gilmore movie Grandma Gilmore lost her belongings and house to the IRS for past due taxes in the amount of $270,000.00. Grandson Happy Gilmore saw an opportunity to get his Grandma’s house back by playing in a golf tournament so he can win enough money to pay off the IRS and get grandma Gilmore’s house back. At this point in April as the movie mention grandma Gilmore is in a nursing home and she is now a relative dependent to grandson Happy Gilmore even though she is not living in the same home as her grandson Happy Gilmore but he Is providing more than half of her support; and grandson Happy Gilmore is now entering the golf tournament.
At the end of the 90 day grace period the IRS give Grandma Gilmore to come up with the back taxes grandson Happy Gilmore was able to put together $275,000.00 towards the payoff of grandma Gilmore house. Grandson Happy Gilmore raised $220,000.00 from the golf tournaments and raised another $55,000.00 from a subway sponsorship, these two amounts will be taxed differently, winnings verses