COMPUTERIZED INCOME TAX PROBLEM & TAX PLANNING MEMO
The comprehensive problem assesses the degree of mastery in:
· Understanding basic tax law concepts (under Manual Tax Return Ru
ic)
· Tax planning
· Written communication
· Using Tax preparation software
Ru
ic for Computerized Income Tax Problem and Memo (50 points)
Excellent Achievement
Advanced Achievement
Basic Achievement
Subpar Achievement
Failed to Achieve
Computerized Tax Return
Tax Law Knowledge and Application (20%)
-tax return demonstrates superior level of understanding and application of tax law; no e
ors; co
ect tax treatment of each tax issue
-tax return demonstrates advanced level of understanding and application of tax law; 1-2 return e
ors
-tax return demonstrates appropriate understanding and application of tax law; few return e
ors
-tax return demonstrates some understanding and application of tax law; return e
ors
-content demonstrates lack of understanding and application of tax law even on the most basic of levels; many return e
ors
Technological Proficiency (20%)
Demonstrates a superior facility and mastery of the tax preparation software; can move from interview mode to tax forms interchangeably; does not use ove
ides; superior ability to problem solve when results do not make sense
Demonstrates proficiency with tax preparation software; can move between modes; does not use ove
ides; cannot always detect when results are not accurate
Demonstrates a competency with tax preparation software but has not mastered the various software capabilities; makes a few entry e
ors
Demonstrates a beginners knowledge of tax preparation software; underutilizes software capabilities; cannot always discover how to enter data properly
Demonstrates a lack of understanding of the tax preparation software; relies on others to instruct on use; many return e
ors go undetected; uses ove
ides and underuses the software functions
Tax Planning Memo
Excellent Achievement
Advanced Achievement
Basic Achievement
Subpar Achievement
Failed to Achieve
Written communication (20%)
-purpose of paper is evident, AND
-no problems in organization (paper flows logically), AND
-minor if any inco
ect usage and spelling
-purpose of paper is evident, AND
-few problems in organization (overall, paper flows logically), AND
-few if any problems with usage and spelling
-purpose of paper is evident , AND
-some problems in organization (lack of flow), OR
-some problems with usage and spelling
-purpose of paper is not evident, OR
-paper lacks organization, OR
-major problems with usage and spelling
-purpose of paper is not evident, AND
-paper lacks organization, AND
-major problems with usage and spelling
Analysis and Problem Solving (40%)
-Clearly and thoroughly defines all tax issues and assesses the tax implications; details a comprehensive plan to maximize the client’s tax position; clarifies assumptions and possible future adjustments
-Defines the tax issues and assesses most of the tax implications if not addressed; details a plan to benefit the clients but addresses only a few key factors ; little discussion of future needs
-States but doesn’t define the tax issues; assesses only 1-2 tax implications; details a tax strategy that addresses only a few key factors; little discussion of future impact
-Presents a vague tax problem and only mentions one tax implication; suggests ways to address problem but has little detail; no discussion of the future impact
-Tax issues are not defined; tax planning is absent; no discussion of how tax client can improve their future tax position
Outcome
3
Mastered
Create/Evaluate
2
Reinforced
Apply/Analyze
1
Introduced
Understand
Remembe
0
Not exhibited by
student
1. Creates a well-
defined problem
statement
Creates a clear and well-
defined problem
statement
Constructs a clear problem
statement, but it is not
well defined
Presents a problem
statement that is too
general or too na
owly
focused
No evidence of a
problem statement
2. Gathers and
evaluates data that
appropriately explores
the problem statement
Collects information and
thoroughly assesses it for
validity, appropriateness
and representation of
several points of view
Gathers and applies
information that appears
to be valid, appropriate
and representative of 1-2
points of view
Identifies information
that is questionably valid
and/or appropriate and
epresentative of one
point of view
No evidence that data
was explored or
gathered
3. Creates a strategy or
a plan
Synthesizes gathered
information to
demonstrate a plan or
strategy that is detailed
and well-defined
Applies gathered
information into a plan or
strategy that has some
details, but lacks
integration
Organizes gathered
information into a plan or
strategy, but has little or
no detail
No evidence of
organization or
synthesis of gathered
information
4. Creates plan for
effective
implementation
Clearly implements or
creates an appropriate
plan on how to
implement the plan or
strategy, and addresses
each key factor.
Clearly illustrates how to
implement the plan or
strategy, but addresses
only 1-2 key factors
Clearly identifies how to
implement the plan or
strategy, but no key
factors are addressed
No evidence that plan
or strategy was
implemented nor has a
proposal for how to
implement the plan or
strategy
5. Evaluates strategy or
plan
Assesses assumptions
and limitations of plan by
clearly showing the need
for adjustment and/or
evisions in the future
Interprets assumptions
and limitations of plan by
showing the need for
adjustment, but has little
discussion of the future
impact
Lists assumptions and
limitations of plan with
little consideration of the
need for further
adjustment, and no
discussion of future
impact
No evidence of
assumptions or
limitations of plan
Excellence System Competency: Analysis & Problem Solving
Graduates use quantitative and qualitative methods of inquiry to assess and evaluate
complex problems.