WFT_Ch 01_Vol 2_SM

WFT_Ch 01_Vol 2_SM - Path:

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Path: K:/TL-WFT-05-0802/Application/TL-WFT-05-0802-001_V2-SM.3d Date: 11th April 2006 Time: 15:57 User ID: 40223 CHAPTER 1 UNDERSTANDING AND WORKING WITH THE FEDERAL TAX LAW SOLUTIONS TO PROBLEM MATERIALS Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 1 National debt New 2 Controlling the economy New 3 Pollution control facilities New 4 Personal saving Unchanged 4 5 Small business: encouraged in selected tax situations Unchanged 5 6 Refundable earned income credit Unchanged 6 7 HOPE scholarship credit Unchanged 7 8 Child or disabled dependent care expenses Unchanged 8 9 Excess political campaign expenditures Unchanged 9 10 Proposal for tax credit for private school tuition Unchanged 10 11 Tax credit versus deduction Unchanged 11 12 Alleviating the effect of multiple taxation Unchanged 12 13 Double taxation and effect of a credit versus a deduction Unchanged 13 14 Wherewithal to pay concept: transfer to controlled corporation Unchanged 14 15 Avoiding the corporate income tax Unchanged 15 16 Wherewithal to pay concept in selected situations Unchanged 16 17 Wherewithal to pay concept: gain or loss recognition by transferor Unchanged 17 18 Wherewithal to pay concept: exchange of shares of stock in one corporation for a partnership Unchanged 18 19 Exceptions to accrual concept Unchanged 19 20 Annual accounting period concept Unchanged 20 21 Political expediency Unchanged 21 22 Community property states Unchanged 22 23 States’ impact Unchanged 23 24 Exploiting loopholes Unchanged 24 25 Administrative feasibility achieved through selected situations Unchanged 25 1-1
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Path: K:/TL-WFT-05-0802/Application/TL-WFT-05-0802-001_V2-SM.3d Date: 11th April 2006 Time: 15:57 User ID: 40223 Question/ Problem Topic Status: Present Edition Q/P in Prior Edition 26 Arm’s length concept Unchanged 26 27 Business purpose concept Unchanged 27 28 IRS adjustment to clearly reflect income Unchanged 28 29 Uncertainty produced by court decisions Unchanged 29 30 Codification of laws Unchanged 30 31 Origination of tax laws Unchanged 31 32 Joint Conference Committee Unchanged 32 33 Code section citation New 34 Code section citation Unchanged 34 35 Missing code sections Unchanged 35 36 Temporary Regulations Unchanged 36 37 Citations New 38 Role of Federal Courts of Appeals Unchanged 38 39 Failure of U.S. Government to appeal some court decisions Unchanged 39 40 Identify selected abbreviations Unchanged 40 41 Court citations New 42 RIA Citator Unchanged 42 43 Tax research Modified 43 44 Tax avoidance Modified 44 45 Electronic tax resources versus paper Unchanged 45 46 Substance over form Unchanged 46 47 Like-kind exchange: wherewithal to pay concept Unchanged 47 48 Objectives of tax provisions Modified 48 49 Community versus common law property New 50 Arm’s length concept Unchanged 50 51 Treasury Decision Unchanged 51 52 Revenue Procedure citation New 53 Citations New 54 U.S. Court of Appeals New 55 Court system New 56 Tax services Unchanged 56 57
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This note was uploaded on 04/06/2008 for the course ACC 355 taught by Professor Mears during the Spring '07 term at Delaware County CC.

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WFT_Ch 01_Vol 2_SM - Path:

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