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Chapter 2 Tax Compliance, the IRS, and Tax Authorities




Question;Chapter 2;Tax;Compliance, the IRS, and Tax AuthoritiesDiscussion;Questions (1);[LO1] Name three factors that determine;whether a taxpayer is required to file a tax return.(2);[LO1] Benita is concerned that;she will not be able to complete her tax return by April 15. Can she request an extension to file her;return? By what date must she do so? If;so, what is the latest date that she could file her return this year without;penalty?(3);[LO1] Agua Linda, Inc., is a;calendar-year corporation. What is the original due date for the corporate tax;return? What happens if the original due date falls on a Saturday?(4);[LO2] Approximately what;percentage of tax returns does the IRS audit?;What are the implications of this number for the IRS?s strategy in;selecting returns for audit?(5);[LO2] Explain the difference;between the DIF system and the National Research Program? How do they relate to each other?(6) [LO2] Describe the;differences between the three types of audits in terms of their scope and;taxpayer type.(7);[LO2] Simon just received a 30-day letter from;the IRS indicating a proposed assessment.;Does he have to pay the additional tax?;What are his options? (8);[LO2] Compare and contrast the;three trial-level courts.(9);[LO3] Compare and contrast the;three types of tax law sources and give examples of each.(10);very little in the way of tax;laws. What are the next highest tax;authorities beneath the U.S. Constitution?(11);[LO3] Jackie has just opened her Code for the;first time. She looks at the table of;contents and wonders why the Code is organized the way it is. She questions whether it makes sense to try;and understand the Code?s organization.;What are some reasons why understanding the organization of the Internal;Revenue Code may prove useful?;[LO3] Laura Li, a U.S. resident, works for three months this summer in Hong;Kong. What type of tax authority may be;especially useful in determining the tax consequences of her foreign income?(12) [LO3] What are the basic differences between regulations, revenue;rulings, and private letter rulings?(13);[LO3] Under what circumstances;would the IRS issue an acquiescence? A nonacquiescence? An action on decision?(14);[LO3] Carlos has located a regulation that;appears to answer his tax research question.;He is concerned because the regulation is a temporary regulation. Evaluate the authoritative weight of this;type of regulation. Should he feel more;or less confident in his answer if the regulation was a proposed regulation?;[LO3] Tyrone recently read a regulation that Congress specifically requested;the IRS to issue. What type of;regulation is this? How does this;regulation?s authoritative weight compare to other regulations?(15);[LO3] In researching a tax;question, you find only one authority (a trial-level court opinion) that is;directly on point. Which court would you;least prefer to have heard this case and why?;(16);[LO3] What is stare decisis;and how does it relate to the Golsen rule?(17);[LO4] Mason was shocked to;learn that the current Code is the Internal Revenue Code of 1986. He thought that U.S. tax laws change more;frequently. What is wrong with Mason?s;perception?(18);[LO4] Describe in general the;process by which new tax legislation is enacted.;="msonormal">


Paper#38140 | Written in 18-Jul-2015

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