Tax Refund for Nonresident Aliens Case Study Example | Topics and Well Written Essays - 3000 words

Tax Refund for Nonresident Aliens - Case Study Example Very few are aware that they are overpaying the taxes. Credits and deductions that they are eligible for either under a bipartite international treaty or under US laws are not being properly utilized. The main reason is their limited understanding regarding US tax laws and secondly, many of them do not file the returns. No filing of the returns means no possibility of any refunds. The endeavour has been to understand these complexities, which has piled up unclaimed overpaid taxes with IRS. It would be appropriate to note that in view of the vastness of the subject effort has been put toward depicting the main issues in a generalized way rather than any specifics to the issue involved. Dates of Co-op Assignment: August 30 -December 9, 2010 On interaction with many non-resident aliens, I came to know that many of them were not very clear on the various tax-related matter, on personal income taxes. They belonged to the varied nationalities. They were not aware of some important US tax requirements. At times, they do not file tax returns or filed them incorrectly, which results in a lot of overpaid tax and the substantial amount goes unclaimed in the refund. †¢ Those people who have come under non-resident visa (J, F, Q or M category) in the US they are statutorily required to file a 1040NR Tax Return in physical form. These are known as US non-resident income tax return. They cannot file e-return or online returns. H1B visa falls in the category of non-immigrant visa. If H1B visa holder is recognized as Resident alien then he is required to file the tax return like any other US citizen, otherwise, they are required to file 1040NR tax return form only. It has been found that most nonresidents miss to file a return or file it incorrectly. It has been further noted that there is a large amount of unclaimed taxes by nonresidents who refrain from filing tax returns. They are under the impression that since the employer has withheld tax amount their obligations are over and they are not aware that they have paid more than what is required by the law.  Ã‚  

Criminal Justice Essay Example | Topics and Well Written Essays - 250 words - 9

Criminal Justice - Essay Example In the United States, the criminal justice provides justice to the people of this country. This is because the law is subjected equally to all people. The law is supreme, and people are required to exercise their rights in accordance with the law. The impartiality of the system makes it acceptable to the people of the United States. The justice system plays an imperative role in the American society (Barkan and Bryjak 9). However, just like many systems across the globe, the United States legal system has its strengths as well as weaknesses. This implies that, although the system offers justice to the public, there exist some faults that should be addressed. Justice is best served by the system in that the Supreme Court is independent from other arms of the government. For instance, the president may hold a particular opinion or even the Congress, but the interpretation of issues concerning the Constitution is left to the Supreme Court. The power given to this court ensures that justice is best served to the people of the United States without prejudices from other areas such as political issues (Barkan and Bryjak 11). Nevertheless, the system fails to provide justice in some cases. Economic biasness, racial bias, and over taxation are some of the weaknesses associated with the justice system. For instance, there are a number of life sentences that have been made by the court of law. However, only few are implemented. This raises concerns about how the selection is done. These issues taint the image of the justice

Protection of Mail-Order Brides Essay Example | Topics and Well Written Essays - 750 words

Protection of Mail-Order Brides - Essay Example From this study it is clear that there has been an increase in the establishment of mechanisms through which mail-order brides can be protected from husbands who are abusive and fro other dehumanizing arrangements such as human trafficking. Nevertheless, after the mail-order brides enter into their new homes, most of the legal protections lose their impact as a result of the marriage’s private nature as a domestic realm and the inability of the brides to navigate the landscape of their new homes, which are mostly in foreign an unfamiliar countries. This study discusses that it is important to note that due to the increasing demand of the mail-order wife as a replacement for the local women who have developed a career culture and are deemed as less â€Å"family oriented†, mail-order bride websites have developed advertisement terms that meet the expectations of the subscribers (Kusel, 2014). Nevertheless, upon interaction with the foreign culture, after marriage, such women get oriented to the foreign culture and thus tend to develop contrasting views with those of their husband concerning gender roles. This is an aspect that leads to increased disagreements and subjects the women to the increased risk of domestic violence. In addition, most of the websites that advertise such women tend to use attractive pictures that portray them as sex commodities. This exposes such women to men who pose as husbands yet they end up enslaving them sexually and abusing them upon marriage. As such, it is clear that most of the women who p ursue a better life through seeking husbands via the mail-order bride sites are commoditized as sex toys and subjected to abuse amidst legislations that are aimed at protecting them. Various countries have developed legislation to protect mail-order brides and other immigrants who are at risk of exploitation.  

Accounting Report Essay Example | Topics and Well Written Essays - 2250 words

Accounting Report - Essay Example diversity, because of the fact that it is one of the few sectors which have remained resilient during financial downturns and because it plays a vital role in the communities for the provision of employment opportunities and as a result acts as a driving force necessary for social cohesion. Three companies are selected for the analyses which are J D Sport Fashion Plc., Sports Direct International Plc. and Next Plc. These companies are selected because they are three renowned players in this specific segment. J D Sports Fashion Plc. is a leading retail company based in England in the segment of sport retail. Next Plc. is a British clothing, home products and footwear retail company. It is the largest retailer of clothes in the United Kingdom as measured by sales. The company has more than 700 stores across the UK and 200 across other geographical locations in Asia. The stocks of the company are listed in the London Stock Exchange. Sports Direct International Plc. is also a giant sports retail company in the United Kingdom. It is a multinational retailer with over 500 stores across the globe. All the three companies also have their respective electronic commerce stores. The general information of the three companies is summarized in Table 1. This research is aimed at answering the question as to what is the situation of the external and internal retail industry of the United Kingdom. The research question is to be answered by considering three main retail companies operating in the country which are J D Sport Fashion PLC, Sports Direct International PLC and Next Plc. The aim of the research is to provide an analysis of the retail industry through the consideration of the various influential factors that are affecting the industry. This is done by using different management and analysis tools like the Porters five forces model, PEST analysis, Critical Success Factor (CSF) evaluation and financial analysis including financial and non financial ration

Money Management Midterm-1 Essay Example | Topics and Well Written Essays - 1500 words

Money Management Midterm-1 - Essay Example It is imperative to note that, the insurance companies are obliged to make regular and lifelong payments until the holder dies (Brealey & Myers, 1997). Consider the formula of calculating life annuity returns Payout= P*R*(1+R) exponent N/ (1+R) Whereby P is the principal, R interest rate and payout refers to the periodic payment. Take a percentage interest of 6% and use the annuity calculator for easy calculation. For a single life annuity, fixed amount to be paid is 3,333 per month. This adds up to EUR 39,996 annually. Therefore, annual periodic payment would be: A = EUR 39,996 Now I believe that I would need more money than EUR 39,996 annually. There would be different factors that would reduce the value of EUR 39,996 at that time like inflation. Therefore, when I retire and I think EUR 45,000 should be a valuable amount that I would need every year to spend my life happily. In order to have this amount every year, the interest rate should be 7% as calculated using Goal Seek option in Microsoft Excel. The life expectancy and retirement age considered in this context is 70 and 55 years respectively. PART II- SHARE ANALYSIS This part intends to examine and analyze two companies from the investment analysis. Various financial ratios will be applied to analyze the performances of the company. The implication created by the ratios will be used to recommend a suitable company for investors to invest. The two companies intended for analysis for this report are Lockheed Martin Corporation and Altera Corporation. Lockheed Martin Corporation Background information about the company Lockheed Martin is a global leader in providing aeronautics and defense security services. The company is the world’s largest federal contractor of the agency with unique product portfolio. Headquarter of the company is situated in Bethesda, Maryland in Washington Metropolitan Area. The company is present in more than 75 countries. The company has partnership with more than 300 indust ry players across the globe. It employs around 120,000 employees worldwide who include 80,000 scientists, engineers and IT professionals. This research establishes that, Lockheed reported $46.5 billion revenue in 2011 through its portfolio that includes aeronautics, electronics system, IT and global services, and space system. Net Income of the company is $2.65 billion in 2011. Presently, its share price is $93. Financial Ratios of Lockheed Martin Earnings per Share The Earnings per share shows how much return a shareholder is earning for each share (Friedlob and Plewa, 1996). The earnings per share of the Lockheed Martin were 7.81 in 2011. However, the average 3-year EPS growth rate of the stock is zero. Price Earnings Ratio Price Earnings ratio is the calculated by the following formula. Price earnings ratio = the market price per share/ annual earnings per share. A higher P/E of the stock implies that, investors are paying more for earning every dollar consequently; the share bec omes more expensive compared to the

Accounting Report Essay Example | Topics and Well Written Essays - 2250 words

Accounting Report - Essay Example diversity, because of the fact that it is one of the few sectors which have remained resilient during financial downturns and because it plays a vital role in the communities for the provision of employment opportunities and as a result acts as a driving force necessary for social cohesion. Three companies are selected for the analyses which are J D Sport Fashion Plc., Sports Direct International Plc. and Next Plc. These companies are selected because they are three renowned players in this specific segment. J D Sports Fashion Plc. is a leading retail company based in England in the segment of sport retail. Next Plc. is a British clothing, home products and footwear retail company. It is the largest retailer of clothes in the United Kingdom as measured by sales. The company has more than 700 stores across the UK and 200 across other geographical locations in Asia. The stocks of the company are listed in the London Stock Exchange. Sports Direct International Plc. is also a giant sports retail company in the United Kingdom. It is a multinational retailer with over 500 stores across the globe. All the three companies also have their respective electronic commerce stores. The general information of the three companies is summarized in Table 1. This research is aimed at answering the question as to what is the situation of the external and internal retail industry of the United Kingdom. The research question is to be answered by considering three main retail companies operating in the country which are J D Sport Fashion PLC, Sports Direct International PLC and Next Plc. The aim of the research is to provide an analysis of the retail industry through the consideration of the various influential factors that are affecting the industry. This is done by using different management and analysis tools like the Porters five forces model, PEST analysis, Critical Success Factor (CSF) evaluation and financial analysis including financial and non financial ration

Modernization of NTUC Income Essay Example for Free

Modernization of NTUC Income Essay 1.)  WHAT WERE THE PROBLEMS FACED BY INCOME IN THIS CASE? HOW WERE THE PROBLEMS SOLVED BY THENEW DIGITAL SYSTEM? Income ·s insurance processes were very tedious and paper-based. This resulted to humongousIncome also experienced frequent breakdown of the HP 3000 mainframe which hosted the coreinsurance applications and the accounting and management information systems. In addition tothis, HP 3000 back-up system only allowed restoration to the previous day ·s back-up data.Hardware failures caused six days of complete downtime. COBOL programs also encounteredfrequent breakdowns that halted the systems and caused temporary interruptions. At the sametime, development of new products using the COBOL is quite cumbersome and took weeks, evenmonths, to accomplish. They also lost opportunities to cross-sell because transaction processingfor policy underwriting was still a batch process and information is not available to agents andadvisors in real-time. Through the new digital systems, these problems were addressed. The paper-based insurance processes were replaced by a paperless platform. Under the new system, alldocuments are scanned and stored on  ´trusted µ storage devices. Frequent breakdowns wereaddressed by the high-availability platform. Multiple servers are hosted and connected to morecommunication lines that are  ´load balanced µ. The new system also addressed downtimes dueto breakdowns by its hot back-up disaster-recovery centers. The new digital system alsoaddressed the slow development of new products by COBOL through the straight throughprocessing workflow capabilities of the new system. 2.) WHAT TYPES OF INFORMATION SYSTEMS AND BUSINESS PROCESSES WERE USED BY INCOME BEFORE MIGRATINGTO THE FULLY DIGITAL SYSTEM? The insurance process of Income was very manual and paper/file intensive. Filled-up applicationforms of clients were sent by agents through courier. Their collection schedule causes delays oftwo to three days. The Office Services log, sort, and send documents to underwriting. Proposalswere allocated to staff randomly. No system was in place for proper assignment of tasks per staff.Voluminous documents are manually sorted and stored by a number of staff at their warehouse.Since there was no clear document management system, retrieval of documents take days toaccomplish. Income also made use of HP 3000 mainframes which were very unreliable due tofrequent breakdowns that resulted to downtime, decreased productivity and wasted manpower hours. COBOL programs were also used which also encountered technical failures. At the sametime, COBOL programs were very slow in developing new products for the company resulting tolost sale opportunities. 3.) DESCRIBE THE INFORMATION SYSTEMS AND IT INFRASTRUCTURE AT INCOME AFTER MIGRATING TO THE FULLY DIGITALSYSTEM. According to James Kang, CIO of Income, the Java based eBao LifeSystem from eBaoTechnology is very customer-centric. It provided seamless integration with imaging and bar codetechnology. It also contains a product definition module that supports new products, newchannels and changes in business process. Data migration of Income ·s individual and groupbusinesses was successfully implemented and customized. The new system was operational onhigh-quality platform with multiple servers and communication lines. The new system alsorevamped business continuity and the company ·s disaster recovery plan. A real-time hot back-updisaster recovery center was implemented. Business processes went from paper intensive to  paperless through digital storage and records. Many users can access the system at one time,any time, and anywhere. 4.) WHAT BENEFITS DID INCOME REAP FROM THE NEW SYSTEM? The robust architecture of the servers minimized downtime occurrence. This is made possible withthe use of two or more servers connected by two or more communication lines. Income alsoreduced and eventually eliminated the use of paper. Under the new system, all documents werescanned and stored on  ´trusted µ storage devices  ² secured, reliable digital vaults that enabledstrict compliance with stringent statutory requirements. Staff members also enjoyed faster accessto information. With the use of the straight through processing workflow capabilities of the newsystem, Income saved as much as 50 percent on time and costs in processing policies. Time indesigning and launching new products were also reduced from weeks to days using the table-driven-rule-based product-definition module. 5.) HOW WELL IS INCOME PREPARED FOR THE FUTURE? ARE THE PROBLEMS DESCRIBED IN THE CASE LIKELY TO BEREPEATED? In the insurance industry, information systems are very important in ensuring product and services ·competitiveness. Customer queries should be addressed accurately and promptly. Productsshould be constantly improved and new designs should always be made available. With the newinformation system, Income is now equipped to face the challenges of the industry. To ensure thesuccess of the new system, proper implementation and control should be done. Continuoustraining should be given to the staff to ensure proper use of the system and to maximize thepotential of the system. The system should also be continuously improved through the proper management of feedback from  users. Upgrades should also be done periodically to cope withthe changes in the demand of the industry and the market.