3. Which of the following statements is not true about tax law sources? a. The Internal Revenue Code serves as the highest legislative authority for tax research, planning and compliance activities. b. Administrative tax law sources include regulations and revenue rulings. c. It is possible for the Tax Court to intentionally issue conflicting decisions. d. A Tax Court Regular decision has more authoritative weight than a Memo decision. e. None of the answers provided is correct.

3. Which of the following statements is not true about tax law sources? a. The Internal Revenue Code serves as the highest legislative authority for tax research, planning and compliance activities. b. Administrative tax law sources include regulations and revenue rulings. c. It is possible for the Tax Court to intentionally issue conflicting decisions. d. A Tax Court Regular decision has more authoritative weight than a Memo decision. e. None of the answers provided is correct.

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter2: Working With The Tax Law

Section: Chapter Questions

Problem 31DQ

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Similar questions

When a tax law failed to comply with fiscal adequacy and Administrative feasibility, the tax law is a. Valid b. Void c. It depends d. Not valid e. Any of the above
The Tax Administration has the right to refuse to provide evidence of the source (s) of income used for a best judgement assessment if requested by the Tax Appeal authority. Is the statment True or False?
Which of the following is not an administrative remedy available to the government? a. Assessment b. Distraint C. Tax Avoidance D. Tax Lien
Which of the following is NOT a power granted to the tax authority? a. The power to arrest. b. The power to audit. c. The power to enter, search and remove documents and records d. The power to request information from third parties.
Which of the following is NOT a power granted to the tax authority? a.The power to request information from third parties. b.The power to arrest. c.The power to audit. d.The power to enter, search and remove documents and record
1
Explain each of the following statements independently: a. Tax systems should be fair. b. The tax calculation will not be correct whenever income tax preferences exist. c. Fiscal policies are used to judge tax systems and achieve government objectives.
Circular 230, Subpart B: Prohibits practitioners from advertising tax preparation services. Requires practitioners to provide the Secretary of the Treasury with information to investigate possible tax identity theft. Prohibits practitioners from charging unconscionable fees. Prohibits practitioners from providing financial planning services.
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Which is not a primary source of tax law? A. Tax Court Case O B. All of these are. C. Proposed Regulation O D. Revenue Ruling E. None of these are. OF. IRS Notice
Statement 1: BIR rulings are the final interpretations of the Tax Code. Statement 2: Supreme Court decision shall prevail over the BIR rulings. a. Only statement 1 is correct c. Both statements are correct b. Only statement 2 is correct d. Both statements are not correct
Which of the following is a correct statement? O Tax avoidance includes failure to pay tax on unreported income from legal sources The IRS estimates that more income tax is lost from evasion involving illegal activities than from unreported legal activities, O Tax avoidance is legal O Tax evasion includes the application of legal loophole to reduce tax liability