Recent orders
Statute Of Limitations
Statute Of Limitations
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Statute Of Limitations
The statute of limitations will not prevent IRS from issuing a deficiency assessment for 2009, 2007 or 2002. Deficiency assessment can be explained as an assessment of an additional income tax designed to cover a deficiency in income that has been revealed upon an audit of the return duly made by the taxpayer (Allingham et al, 1972). It is the total amount that a taxpayer owes in all back taxes as determined by the IRS and, if an individual was requested, an appeal. For Instance, if one owed $50,000 in taxes for the 2009 but only paid $40,000, the IRS would officially make an assessment of deficiency for $10,000, plus all interest and penalties that have been incurred.
In this case, the IRS agent discovers that Dan did not report $40,000 of gross business income on all his 2007 return. Additionally, gross income of $60,000 was reported in 2007. The agent at the same time discovers that Dan failed to file a tax return in the year 2002. Thus, Dan has violated the law. According to the statute of limitations, it is mandatory for all taxpayers to file their returns for every financial year in order to be cleared by the IRS. Failure to this, then the IRS will be obligated to issue a notice for an assessment of deficiency. This comes after the violations, especially in the manner in which Dan violated it. There are other ways that Dan’s actions cannot be guaranteed.
For example, if the IRS determines that the amount of the tax due is more than the amount that has been disclosed by a return, it should mail to the individual taxpayer a notice of the additional tax that has been proposed to be assessed. The notice must contain a statement that if payment will not be promptly made, a warrant for distraint is going to be filed. The taxpayer, on the other hand, may seek a review of the determination. Furthermore, a penalty and interest must be added into a deficiency assessment so that the due course of law can be followed.
According to the statute of limitations, a statement that is made by a taxpayer disclosing his gross income as well as deductions may be accepted as a “tentative return”. If such a statement gets filed by the appropriate due date, it is going to relieve the taxpayer from liability for the act of delinquent filing penalties. However, the taxpayer has the obligation of supplementing the tentative return through filing a return on the proper form in the frame of a reasonable period of time. Thus, while the tentative return can enable the taxpayer to generally avoid penalties for late filing, the question will whether it is enough to start the running of the legal statute of limitations for assessment (Allingham et al, 1972). In the case of Dan, he performed some of the legal duties as stipulated by the statute of limitations and skipped some of them. For instance, failed to file a tax return in the year 2002 and also did not report $40,000 of gross business income on all his 2007 return.
In conclusion, the IRS will be operating within the law if they decide to issue an assessment of deficiency. Dan will have no legal grounds to contest the decision in court. In the most likely situation, he will be required to pay up the penalties required, as well as the remaining amount that he never disclosed or filed.
References
Allingham, M. G. & Sandmo, A. (1972) ‘Income Tax evasion: A Theoretical Analysis’, Journal
of Public Economics, Vol.1, 1972, p.323-38.
Internal Revenue Service (n.d). “The Agency, its Mission and Statutory Authority” Retrieved on
September 4, 2014.
Statue Of Liberty
Statue Of Liberty
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore,
Send these, the homeless, tempest-tossed, to me:
I lift my lamp beside the golden door.”
Lady Liberty greeted millions of immigrants as they arrived in the New World and continues to greet millions of tourists from around the world each year. While the Statue of Liberty is as much as an enduring symbol of New York City as the Empire State Building, Broadway or Central Park, it’s also one of America’s primary symbols of freedom.
Sculptor Frederic Auguste Bartholdi was commissioned to design a sculpture with the year 1876 in mind for completion, to commemorate the centennial of the American Declaration of Independence. The Statue was a joint effort between America and France and it was agreed upon that the American people were to build the pedestal, which was designed by architect Richard Morris Hunt, and the French people were responsible for the Statue and its assembly here in the United States. However, lack of funds was a problem on both sides of the Atlantic Ocean. In France, public fees, various forms of entertainment, and a lottery were among the methods used to raise funds. In the United States, benefit theatrical events, art exhibitions, auctions and prize fights assisted in providing needed funds. Meanwhile in France, Bartholdi required the assistance of an engineer to address structural issues associated with designing such as colossal copper sculpture. Alexandre Gustave Eiffel was commissioned to design the massive iron pylon and secondary skeletal framework which allows the Statue’s copper skin to move independently yet stand upright. Back in America, fund raising for the pedestal was going particularly slowly, so Joseph Pulitzer (noted for the Pulitzer Prize) opened up the editorial pages of his newspaper, “The World” to support the fund raising effort. Pulitzer used his newspaper to criticize both the rich who had failed to finance the pedestal construction and the middle class who were content to rely upon the wealthy to provide the funds. Pulitzer’s campaign of harsh criticism was successful in motivating the people of America to donate.
Financing for the pedestal was completed in August 1885, and pedestal construction was finished in April of 1886. The Statue was completed in France in July, 1884 and arrived in New York Harbor in June of 1885 on board the French frigate “Isere” which transported the Statue of Liberty from France to the United States. In transit, the Statue was reduced to 350 individual pieces and packed in 214 crates. The Statue was re-assembled on her new pedestal in four months time. On October 28th 1886, the dedication of the Statue of Liberty took place in front of thousands of spectators. She was a centennial gift ten years late.
The Statue was placed upon a granite pedestal inside the courtyard of the star-shaped walls of Fort Wood (which had been completed for the War of 1812.) The United States Lighthouse Board had responsibility for the operation of the Statue of Liberty until 1901. After 1901, the care and operation of the Statue was placed under the War Department. A Presidential Proclamation declared Fort Wood (and the Statue of Liberty within it) a National Monument on October 15th, 1924 and the monument’s boundary was set at the outer edge of Fort Wood. In 1933, the care and administration of the National Monument was transferred to the National Park Service. On September 8, 1937, jurisdiction was enlarged to encompass all of Bedloe’s Island and in 1956, the island’s name was changed to Liberty Island. On May 11, 1965, Ellis Island was also transferred to the National Park Service and became part of the Statue of Liberty National Monument.
When Bartholdi designed the statue, it is said that he implied certain points with her. The 25 windows that are located in the crown are represent the 25 natural gemstones found on earth, the toga represents the ancient Roman Empire, the torch represents enlightenment, and the chains under her foot represent liberty crushing the chains of slavery. There is two ways of thoughts on what the rays of her crown mean however. One thought is that they represent the 7 oceans of the world, while the other is that they represent the 7 continents. There is no telling which Bartholdi had in mind during design.
The year 1986 brought the finish of a two year renovation of Lady Liberty to celebrate her 100th anniversary. The renovation included replacement of the more than 1,600 wrought iron bonds with stainless steel. These bonds are what hold the skin to the structure. The other major renovation was that of replacing the torch. The replaced the old copper torch with a gold leaf plated torch. They also installed an elevator into the pedestal for people who do not wish to climb the stairs. The entire renovation cost nearly $87 million. The old torch was then placed inside the pedestal where there is a museum for historical exhibits of the statue.
Every year 4.2million people visit the statue on Liberty Island. They wait, on average, 3 hours to climb the 354 step spiral staircase to the observation deck located in the crown. It is noted, however, that you can take the elevator to the top of the pedestal if you do not want to wait or climb the stair. And finally the best stat that I have found about our own Liberty Lady is that by a formula to figure shoe size, she would be wearing a size 879.
Head thickness from ear to ear 10′ 0″
Women’s shoe size (formula based)879
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STATISTICS-Q
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Discuss c4.5 method
This is an algorithm that uses the concept of information entropy to predict correctly the value of category attribute. This algorithm generates a decision tree that can identify classes of objects that have a descriptive trait. The attributes of the data that splits the sets into subsets to place in one class. It is referred to statistical classifier since it can be used for classification because its main aim is to partition datasets into groups in terms of variables to be predicted
How decision tree are used in classification explain?(explain how they are used?)
They are used in the form of classes which have coexistence with response variable. Homogeneity of data is used as the basis of standard classification tree dataset. Decision tree is used in when we have two variables: size and age to become a swim suit model. In our data if it shows that 80% of people who are younger than 25 sign up we split the data and age becomes top node in the tree. This Standard cart procedure is used when target market is categorical in nature.
Explain decisions tree induction?
The decision tree induction was developed by J. Ross Quinlan known as ID3 and its successor C4.5.An example is decision tree and data set .Decision tree is a system that depicts a tree with root nodes, branches and leaf nodes. The nodes that are internal represent the test on variable, branch nodes represent outcome of test and leaf node explains a class label(Berry ,2000).
Explain the concept of data mining and techniques of data mining?
Data mining is the extraction hidden information and analyzing the data from large databases and summarizing it into useful information. It provides tools for better decision support systems by predicting future trends and behaviors allowing business to make proactive decisions (Berry ,2000). This is done through analyzing data from different dimensions and relating the summarized information identified. Artificial neural networks trains and resembles structures of biological neural networks. Decision trees represent the set decisions which include methods like classification and regression tree. Rule indication extracts information by identifying statistical evidence.
Describe the following
Numeric prediction with examples
This is a model that predicts unknown or missing values which predict continuous class. It is mainly used as a continuous valued function especially in schemes such as, linear regression, model tree generators, instance based learners and decision tables.
Classifying clustering with example
Classification is when you classify new samples into known classes while clustering is based on patters in data. In clustering there are no class labels an example in identifying new animal species .In classifying we mainly use decision tree case we identify labeled samples from a class set.
Difference between divide & conquer and separate & conquer
Divide and conquer the sub problems are independent of each other .These algorithm is simply used to break downproblems into sub problems that can be solved easily.
Separate and conquer rule learning algorithm produces set rules by specialising in a general rule.In each case a specialised rule covers a subset of positive examples by excluding the negative ones.
Association rule mining and issues with associative rule mining explain with example
Association mining is a data mining task which identifies relationships in databases. Association rule mining are statements that can be used by educators to help understand unrelated data into a relational database. This is done by analyzing data and criteria to support and identify most important relationships. The main issue with association rule mining is over fitting. This is because limited data is available and it is inevitable in statistical sense to get false discoveries because the number of rules is high. An example of association rule mining is applied in an e learning systems, market basket transactions (Tibshirani,Friedman ,2009).
What is mining? Explain pre mining, post mining with test.
Data mining is the practice of searching large data stores and identifying patterns and trends in easy to interpret visuals. It uses a mathematical algorithm to evaluate future event probability by segmenting and evaluating the data.
Pre mining is a revisit that helps analyze data sets before data mining. This is essential in uncovering patterns that can be mined within specified time .This is mainly done through detecting problems in data set by Detection techniques and accessing manageable data sets.
Post mining is evaluating the problems such as noisy data by reducing the decision tree. This is mainly done by post pruning or truncation. This assist in identifying the problem before implementing it in system or usage by an end user. (Berry ,2000).
Difference between supervised and unsupervised? (at least 5 difference)
The output datasets are provided in supervised learning and are used for training the machine to get desired outputs whereas no data sets are provided in unsupervised learning, however the data is clustered into various classes (Kuhn & Johnson, 2013).
supervised learning is done using statistically based algorithmic methods of machine learning Whereas, unsupervised learning deals with neuromorphic technology known as Attractor Neural Networks ANN.
In Supervised learning, Labels are given and one tries to learn how to predict/model them whereas Unsupervised there are no Labels given and one tries to extract information in general out of the data
In supervised learning, there are Applications where training data contains examples of the input vectors with their corresponding target vectors whereas unsupervised learning the training data consists of a set of input vectors x without any consistent target values
This is an algorithm that involves dependent variable which is to be predicted from independent variables. By use of these set of variables, one generates a function that map inputs to desired outputs (Kuhn & Johnson, 2013). Unsupervised Learning is an algorithm that does not have a target or outcome variable to predict / estimate. It is used for clustering in various groups, that is widely used for segmenting the different groups for specific interposition.
REFERENCES
Berry, M. J., Linoff, G., & Berry, M. J. (2000). Mastering data mining: The art and science of customer relationship management. New York: Wiley Computer Pub
Hastie, T., Tibshirani, R., & Friedman, J. H. (2009). The elements of statistical learning: Data mining, inference, and prediction. New York: Springer.
Kuhn, M., & Johnson, K. (2013). Applied predictive modeling. New York: Springer.