week2 notes - 1. Where can tp litigate a tax dispute? US...

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Unformatted text preview: 1. Where can tp litigate a tax dispute? US District Court, Tax Court, Court of Federal Claims Which court do you have to pay to play? US District Court 2. Accrual method tax deductions taken when? incurred Income declared when? When revenue is invoiced Cash method deductions? When cash received Declared? When paid. 3. Tax avoidance? Savings of tax dollars Tax evasion? Understatement of income, claiming fictitious deduc, accounting irregularities, allocation of income-fictitious partners, acts and conduct of tax payer- reason for questions from IRS **failure to disclose completed transaction 4. Explain assignment of income doctrine. **Income is taxed to the party that earned it. It cant be transferred to another party. How could income taxes be reduced w/o it? ** 5. Common body of law what is it? (4 components) Judicial Courts S. Ct. Administrative IRS (RR-revenue ruling, RP-revenue procedure, TIR-technical info release, PLR-private letter ruling, TAM-technical advice memorandum, DL-determination...
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week2 notes - 1. Where can tp litigate a tax dispute? US...

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