I will attach instructionsBecause it is important for accountants to demonstrate the filing...

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I will attach instructionsBecause it is important for accountants to demonstrate the filing requirements for specialized tax returns, for this final project you will be completing a partnership tax return and provide an analysis of the ethical considerations related to tax preparation involving partnerships. Key Component: Use the financial data from below to complete Form 1065. Complete the Student Template (found in Module 8 under this assignment) that has the respective tax forms and schedules required to complete the return. Complete all the parts of your respective business tax return for which there is information. Click this link to download Form 1065 (Links to an external site.) from IRS.gov. Complete the return for BADEC. In a separate document, prepare an analysis of the ethical considerations related to tax preparation involving partnerships. 1. The purpose of some questions on Form 1065 Schedule B with the exception of line 1. (You may select a sub-grouping of these questions to complete your milestone.) 2. The challenges (identify three to five) you faced, both anticipated and unexpected, when completing the partnership tax return. 3. Solutions you can provide to those challenges. Requirements: Submit 1) your tax return template and 2) your analysis of the ethical considerations related to tax preparation involving partnerships. Your paper must be formatted according to the CSU Global Writing Center. Review the grading rubric to understand how you will be graded on this assignment. Reach out to your instructor if you have questions about the assignment. Note: Save the .docx file as a .pdf when submitting so that all information will be viewable.  	BADEC Partnership 	12/31/2016 	  	  	  	  	Assets 	  	  	  	  	Cash 	  	 $485,600 	  	Computer 	  	 $7,000 	  	AccDep-Computer 	  	 $(1,745) 	  	Furniture 	  	 $3,000 	  	AccDep-Furniture 	  	 $(321) 	  	Land 	  	 $50,000 	  	 Total Assets 	  	 $543,534 	Liabilities 	  	  	  	  	  	  	Equity 	  	  	  	  	Capital-Anderson 	  	 $57,299 	  	Capital-Bacon 	  	 $171,898 	  	Capital-Cox 	  	 $114,599 	  	Capital-Day 	  	 $57,299 	  	Capital-Elders 	  	 $40,840 	  	Capital-Fawcett 	  	 $85,679 	  	Capital-Gonzalez 	  	 $15,920 	  	 Total Liabilities plus Equity 	 $543,534

Ishmeet Singh · Accepted Answer

ETHICAL CONSIDERATIONS RELATED TO TAX PREPARATION INVOLVING PARTNERSHIPS
Introduction
During the process of filling a return there are countless measures that arises forms the aspect of filing a return and the case becomes more sensitive when the compliances and regulatory and legal measures are also to be maintained. There are wide varieties of cases where ethical considerations plays a dominant role especially when filing for a partnership firm underneath it is described the following ethical considerations required while filing return under IRS form 1065.
Administrative Section:
1. Selecting the Tax Year: There goes in appropriate measures and studies also from the company’s strategic point of view in selecting the relevant tax year for return filing. Added to it there are also sections for advisory and penalties for non-conformance of skipping the relevant year under section 444 IRS.
2. Selecting the accounting method: Whether going for cash, accrual, or hybrid there should be clarity for keeping records for long term contracts, depreciation, and project completion cash value. 
3. Partnership Tax Election: When to exercise the contest of elections.
4. Audit Rules, Amended Returns,

Because it is important for accountants to demonstrate the filing requirements for specialized tax returns, for this final project you will be completing a partnership tax return and provide an...

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