Individual Income Taxes
43rd Edition
ISBN: 9780357109731
Author: Hoffman
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question
Chapter 2, Problem 31DQ
To determine
Identify the given items that can probably be found in the Internal Revenue Bulletin.
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Students have asked these similar questions
In general, the answer to all tax questions or issues must be traced to:
A. Supreme Court Decision
B. an IRS letter ruling
C. a tax text book
D. the Internal Revenue Code
An official IRS statement issued by the National Office that provides an interpreation of how the tax law applies to a hypothetical fact scenario is:
A. Revenue Ruling
B. Field Service Advice
C. Private Letter Ruling
D. Technical Advice Memorandum
Which of the following may be relied on and cited as authority for a tax position taken on a client's return?
A. A section from the Form 1120 instructions
B. Revenue Ruling
C. A section from the CCH Master Tax Guide
Chapter 2 Solutions
Individual Income Taxes
Ch. 2 - A large part of tax research consists of...Ch. 2 - Why do taxpayers often have more than one...Ch. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - Prob. 5DQCh. 2 - Prob. 6DQCh. 2 - Rank the following items from the lowest to...Ch. 2 - Prob. 8DQCh. 2 - Prob. 9DQCh. 2 - Prob. 10DQ
Ch. 2 - Prob. 11DQCh. 2 - Prob. 12DQCh. 2 - Sanjay receives a 90-day letter after his...Ch. 2 - Prob. 14DQCh. 2 - Prob. 15DQCh. 2 - Prob. 16DQCh. 2 - Prob. 17DQCh. 2 - Prob. 18DQCh. 2 - Prob. 19DQCh. 2 - Prob. 20DQCh. 2 - Prob. 21DQCh. 2 - Prob. 22DQCh. 2 - Prob. 23DQCh. 2 - Prob. 24DQCh. 2 - Prob. 25DQCh. 2 - Prob. 26DQCh. 2 - Prob. 27DQCh. 2 - Prob. 28DQCh. 2 - Prob. 29DQCh. 2 - Prob. 30DQCh. 2 - Prob. 31DQCh. 2 - For her tax class, Yvonne must prepare a research...Ch. 2 - Prob. 33DQCh. 2 - Prob. 34DQCh. 2 - Prob. 35DQCh. 2 - Prob. 36DQCh. 2 - Prob. 37PCh. 2 - Prob. 38PCh. 2 - Prob. 39PCh. 2 - Prob. 40PCh. 2 - Prob. 41PCh. 2 - Using the legend provided, classify each of the...Ch. 2 - Prob. 43PCh. 2 - Prob. 1RPCh. 2 - Prob. 2RPCh. 2 - When Oprah gave away Pontiac G6 sedans to her TV...Ch. 2 - Prob. 4RPCh. 2 - (1) Go to taxalmanac.org, and use the website to...
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Similar questions
- Q. Explain the difference between a regular decision by the Tax Court and a memorandum decision by this court. Q. Many Tax Court decisions end with the phrase, ``Decision will be entered under Rule 155.'' What does this mean? Q. Find the court decision Stuart Hirshfield v. U.S. (88 AFTR 2d 2001-7095). Use the Citator to evaluate the reliability of this court decision. Include a print out of your results. Explain how you located this information. Q. You are reviewing a client's file and notice that a previous tax return position was taken based on a reveune ruling. You want to examine the current status of the revenune to see if there have been any changes that will affect the client's position. Provide the cite for the following Revenue Ruling and note its current status. Q. A partner at your firm has called you into his office for some help with a client issue. The client has a transaction that involes S. 162. The partner would like you to determine if any revenue rulings has been…arrow_forwardThe power to tax is provided for by the Constitution, the National Internal Revenue Code, Special Laws, and administrative revenue issuances. Group of answer choices True Falsearrow_forwardA major responsibility of the Government Accountability Office is to audit taxpayers’ returns to determine whether they have complied with the tax laws Select one :- a_ true b_ falusarrow_forward
- Which of the following is not an administrative remedy available to the government? a. Assessment b. Distraint C. Tax Avoidance D. Tax Lienarrow_forwardThe following powers are classified as primary powers of the Commissioner of the BIR. Which of these powers is the Commissioner’s secondary power? Power to interpret tax laws Power to assess and collect the amount of tax Power to make arrest and seizures Power to examine books of accounts.arrow_forwardWhich is NOT a proper exercise of administrative feasibility?a. Electronic Tax Payment System (eTPS)/Land Bank Remittance System (LBRS)b. Payment of tax thru credit/debit/prepaid cards/G-Cashc. Requirement to all taxpayers to file tax returnsd. Substituted Filing of Qualified Compensation Income Earnersarrow_forward
- How have the recent revenue recognition standards affected the book/ tax accountingarrow_forwardIndicate whether the following statements are "True" or "False" regarding letter rulings. a. Letter rulings have the force and effect of law and provide guidance and support for taxpayers in similar transactions. b. A letter ruling represents the current opinion of the IRS on the tax consequences of a transaction with a given set of facts. c. Letter rulings not only help promote a uniform application of the tax laws but also may reduce the potential for litigation or disputes with IRS agentarrow_forwardHow can you propose additional content to make the tax footnote to the financial statement more informative for external users?arrow_forward
- Which of the following is the highest authority for resolving federal tax cases? O US Supreme Court US Tax Court O US Court of Appeals OIRSarrow_forwardThe AICPA has issued standards for CPAs in tax practice, called Statements on Standards for Tax Services (SSTS). Download the Statement on Standards for Tax Services No. 1-7Links to an external site.. What does the SSTS say about a CPA relying on information supplied by the client (see SSTS #3)? Are estimates ever permitted to be used in preparing a tax return (see SSTS #4)?arrow_forward9. the BIR is under the supervision of the: A. Department of Budget C. Department of Finance D. Department of Trade and Industry B. Bureau of Customs 10. Which of the following is not within the scope of authority of the BIR Commissioner? A. To exercise the levying function of taxation B. To interpret tax laws C. To assess and collect BIR taxes D. To decide cases involving National Internal Revenue taxesarrow_forward
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