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Chapter 2 Tax Compliance, the IRS, and Tax Authorities




Question;(1);[LO4] What are the three committees that debate proposed tax;legislation? What documents do these;committees generate, and how might they be used?;(2);[LO4] The president recently;vetoed a tax act passed by the House and Senate. Is the tax act dead? If not, what will it take for the act to be;passed?\;(3);[LO5] What are the five basic;parts of an internal research memo?;(4);[LO5] What is the difference;between primary and secondary authorities?;Explain the role of each authority type in conducting tax research.;[LO5] Jorge is puzzled that the IRS and his CPA could legitimately reach;different conclusions on a tax issue.;Why does this happen?;(5);[LO5] What is the difference;between open and closed facts? How is;this distinction important in conducting tax research?;[LO5] In writing a research memo, what types of facts should be included in the;memo?;[LO5] Amber is a tax expert, whereas Rob is a tax novice. Explain how their process in identifying tax;issues may differ.;(6);[LO5] Discuss the basic;differences between annotated and topical tax services. How are these services used in tax research?;(7);[LO5] In constructing a keyword;search, what should the keyword search include?;(8);[LO5] Lindley has become very;frustrated in researching a tax issue using keyword searches. What suggestions can you give her?;[LO5] Nola is a tax novice and has a fairly simple tax question. Besides tax services, what are some sources;that she can use to answer her question?;(9);[LO5] Armando identifies a tax;research question as being a question of fact.;What types of authorities should he attempt to locate in his research?;(10);[LO5] How are citators used in;tax research?;(11);[LO5] What is the general rule;for how many authorities a research memo should discuss?;(12);[LO6] Identify some of the;sources for tax professional standards.;What are the potential ramifications of failing to comply with these;standards?;(13);[LO6] Levi is recommending a;tax return position to his client. What;standard must he meet to satisfy his professional standards? What is the source of this professional;standard?;(14);[LO6] What is Circular 230?;(15);[LO7] What are the basic differences between;civil and criminal tax penalties?;(16);[LO7] What are some of the most;common civil penalties imposed on taxpayers?;(17);[LO7] What are the taxpayer?s;standards to avoid the substantial understatement of tax penalty?;(18);[LO7] What are the tax;practitioner?s standards to avoid a penalty for recommending a tax return;position?


Paper#38141 | Written in 18-Jul-2015

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