Which of the following choices describes the official sources of the tax law generated by one of the branches of government? …
Primary sources consist of statutory, administrative, and judicial sources of the law.
What action does the 30 day letter provide a taxpayer if the taxpayer does not agree with an assessment after being audited by the IRS?
What action does a 30-day letter provide a taxpayer if the taxpayer does NOT agree with an assessment after being audited by the IRS?
The taxpayer can request an appeals conference
.
Which of the following is a judicial source of tax law?
The third source of tax law is the judicial source. This includes the various federal courts, appeals courts,
the Supreme Court and the Tax Court
.
Is charged with administering and interpreting the tax laws?
The Treasury Department
is charged with administering the tax laws of the United States, to accomplish this task it makes various pronouncements to explain the Internal Revenue Code.
Primary authority consists of original pronouncements that come from government sources, including statutory, administrative, or judicial sources.
Statutory authority
comes out of the legislative branch of government, the U.S. Congress, and includes the Internal Revenue Code, legislative history, and tax treaties.
What happens if you fill out 1040 wrong?
If you made a mistake on your tax return, you need to correct it with the IRS. To correct the error, you would need
to file an amended return with the IRS
. If you fail to correct the mistake, you may be charged penalties and interest. You can file the amended return yourself or have a professional prepare it for you.
What action does the 30 day letter provide a taxpayer?
A 30-Day letter is sent to
a business when the IRS has audited a business tax return or prepared a return for the business
. It is known as a 30-day letter because they give the taxpayer 30 days to respond before the IRS processes the changes made to the return and sends a bill for the balance due.
What is a judicial source?
Judicial decisions are
the third primary source of tax law
. Court decisions are official interpretations and applications of the IRC by the judicial branch of the government. … In this process, additional tax law is generated that can carry the full force for the statute itself.
What are three sources of tax law?
The three primary sources of tax law are
statutory sources, administrative sources, and judicial sources
.
- The Constitution of the United States.
- The Internal Revenue Code (IRC), which is the codification of tax laws promulgated by Congress. It is probably the most important source of income tax authority in the United States.
- Tax treaties.
68. The regulation with the lowest authoritative weight is the: A.
procedural regulation
.
The most impactful and binding types of authority are called primary sources. These primary sources are
tax law authorities
that must be followed and include: the Internal Revenue Code, U.S. Treasury Regulations, Revenue Rulings, and Revenue Procedures. … Final regulations have the effect of law.
What audit function does the information matching program perform?
What audit function does the information matching program perform? This program
matches the information on the tax return to information reported to the IRS by third-parties
. -day letter asks the taxpayer to either pay the deficiency or petition the Tax Court to hear the case.
Which of the following is a secondary source of law quizlet?
Secondary sources of law are
background resources
. They explain, interpret and analyze. They include encyclopedias, law reviews, treatises, restatements.
Which of the following is a tax avoidance strategy quizlet?
Which of the following is a tax avoidance strategy?
Accelerate deductions to save taxes this year
.
Some examples of primarily American secondary authority are:
Law review articles, comments and notes
(written by law professors, practicing lawyers, law students, etc.) Legal textbooks, such as legal treatises and hornbooks. Legal digests, such as the West American Digest System.
