Comp SM_Ch02 - CHAPTER 2 WORKING WITH THE TAX LAW SOLUTIONS...

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Unformatted text preview: CHAPTER 2 WORKING WITH THE TAX LAW SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Code Unchanged 1 2 Code New 3 Tax legislation Unchanged 3 4 Joint Conference Committee Unchanged 4 5 Code Unchanged 5 6 Treaties Unchanged 6 7 Regulation citation Unchanged 7 8 Regulations Modified 8 9 Types of Regulations Unchanged 9 10 Revenue Ruling citation New 11 Authority Unchanged 10 12 Citations Unchanged 11 13 Issue ID Unchanged 12 14 Small Cases Division Unchanged 13 15 U.S. District Court New 16 Judicial alternatives: trial courts Unchanged 15 17 U.S. Court of Federal Claims Unchanged 16 18 Judicial system Unchanged 17 19 Tax Court and appeal process Unchanged 18 20 Trial Courts Unchanged 19 21 Circuit Court of Appeals New 22 Supreme Court Unchanged 21 23 Court decision validity Unchanged 22 24 Summary Opinion versus Regular versus Memo Tax Court decision New 25 Citations Unchanged 24 2-1 2-2 2005 Comprehensive Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 26 Abbreviations Unchanged 25 27 Commerce Clearing House citations Unchanged 26 28 Location of decision of U.S. Court of Federal Claims New 29 Cumulative Bulletin Unchanged 28 30 Issue ID New 31 Definition of tax terms Unchanged 30 32 Judicial system Unchanged 31 33 Judicial system Unchanged 32 34 Citations New 35 Publishers’ citations Unchanged 34 36 Tax avoidance versus tax evasion Unchanged 35 Research Problem 1 Citations New 2 Library research New 3 Internet activity New Working With the Tax Law 2-3 DISCUSSION QUESTIONS 1. With some exceptions, much of the 1939 Code was incorporated into the 1954 Code and the 1954 Code into the 1986 Code. This point is important when one assesses judicial decisions that interpret provisions of the 1939 and 1954 Codes. If the same provision was included in the Internal Revenue Code of 1986 and has not been subsequently amended, the decision is likely to have continuing validity. p. 2-3 2. The statement is valid. Changes in the tax law are integrated into the Internal Revenue Code of 1986. p. 2-3 3. This statement is false. Tax legislation normally originates in the Ways and Means Committee of the House of Representatives. A tax bill might originate in the Senate when it is attached to other legislative proposals (e.g., the Senate version of the Deficit Reduction Act of 1984 was attached as an amendment to the Federal Boat Safety Act). p. 2-4 and Footnote 1 4. When the Senate version of a tax bill differs from that passed by the House, the Joint Conference Committee, which includes members of both the House Ways and Means Committee and the Senate Finance Committee, is called upon to resolve these differences. The result, usually a compromise of the two versions, is then voted on by both the House and the Senate. p. 2-4 5. The income tax laws are found in Title 26 of the U.S. Code in Subtitle A. p. 2-4 6. Willis, Hoffman, Maloney and Raabe, CPAs 5191 Natorp Boulevard...
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This note was uploaded on 03/14/2010 for the course ACC 11101 taught by Professor Sun during the Spring '10 term at Abraham Baldwin Agricultural College.

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Comp SM_Ch02 - CHAPTER 2 WORKING WITH THE TAX LAW SOLUTIONS...

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