Chapter 2 - Chapter 2 Working with the Tax Law Tax Research is the method by which an interested party determines the best solution to a tax situation

Chapter 2 - Chapter 2 Working with the Tax Law Tax Research...

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Chapter 2: Working with the Tax LawTax Research is the method by which an interested party determines the best solution to a tax situation. It involves the following research:Identifying and refining the problemLocating the appropriate tax law sourceAssessing the validity of the tax law sourcesArriving at the solution or at alternative solutions with due consideration given to nontax factors.What should accountants care to know anything about tax research?Laws change all the time & impossible to remember them all.Authoritative SourcesPrimary or “Authoritative”oInternal Revenue Code (statutory authority) (26 U.S.C is first then 26 C.F.R)oTreasury Regulations (administrative authority)oInternal Revenue Service Rulings (administrative authority)oJudicial AuthoritySecondary or “reference”oLooseleaf tax reference servicesoPeriodicalsoTextbooksoTreatisesoPublished papers from tax institutesoSymposiaoNewsletters

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