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Solution Manual for Federal Tax Research 12th Edition by Roby Sawyers, Steven Gill all chapters covered, ISBN: 9780357366387 $19.49   Add to cart

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Solution Manual for Federal Tax Research 12th Edition by Roby Sawyers, Steven Gill all chapters covered, ISBN: 9780357366387

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Solution Manual for Federal Tax Research 12th Edition by Roby Sawyers, Steven Gill all chapters covered, ISBN: 9780357366387 Solution Manual for Federal Tax Research 12th Edition by Roby Sawyers, Steven Gill all chapters covered, ISBN: 9780357366387 Solution Manual for Federal Tax Research 12t...

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  • October 12, 2024
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TIFFACADEMICS
FederaleTaxeResearch,e12theEditio Pagee1-1
n

Solution Manual
Federal Tax Research 12th Edition
by Roby Sawyers, Steven Gill

CHAPTERe1
INTRODUCTIONeTOeTAXePRACTICEeANDeETHICS



DISCUSSIONeQUESTIONS


1-1.
InetheeUnitedeStates,etheetaxesystemeiseaneoutgrowtheofetheefollowingefiveedisciplines:el
aw,eaccounting,eeconomics,epoliticalescience,eandesociology.eTheeenvironmenteforetheetaxesyst
emeiseprovidedebyetheeprincipleseofeeconomics,esociology,eandepoliticalescience,ewhileetheelegal
andeaccountingefieldseareeresponsibleeforetheesystem‘seinterpretationeandeapplication.
e




Eacheofetheseedisciplineseaffectsethisecountry‘setaxesystemeineaeuniqueeway.eEconomistseaddres
sesucheissueseasehoweproposedetaxelegislationewilleaffectetheerateeofeinflationeoreeconomicegrowt
h.eMeasurementeofetheesocialeequityeofeaetaxeandedeterminingewhethereaetaxesystemediscriminat
eseagainstecertainetaxpayerseareeissuesethateareeexaminedebyesociologistseandepoliticalescientists.
Finally,eattorneyseareeresponsibleeforetheeinterpretationeofetheetaxationestatutes,eandeaccountantse
ensureethatetheseesameestatuteseareeappliedeconsistently.


Pagee4


1-2. Theeotheremajorecategorieseofetaxepracticeeineadditionetoetaxeresearcheareeasefollows:


• Taxecompliance
• Taxeplanning
• Taxelitigation


Pagee5
e




1-3.
Taxecomplianceeconsistseofegatheringepertinenteinformation,eevaluatingeandeclassifyinge

,Pagee1-2 SOLUTIONSeMANUAL
thateinformation,eandefilingeanyenecessaryetaxereturns.eComplianceealsoeincludeseotherefunction
senecessaryetoesatisfyegovernmentalerequirements,esucheaserepresentingeaeclienteduringeaneInter
naleRevenueeServicee(IRS)eaudit.

,FederaleTaxeResearch,e12theEditio Pagee1-3
n


Pagee5


1-4.
Mosteofetheetaxecomplianceeworkeiseperformedebyecommercialetaxepreparers,eenrolledea
gentse(EAs),eattorneys,eandecertifiedepubliceaccountantse(CPAs).eNoncomplexeindividual,epartn
ership,eandecorporateetaxereturnseofteneareecompletedebyecommercialetaxepreparers.eTheepreparat
ioneofemoreecomplexereturnseusuallyeiseperformedebyeEAs,eattorneys,eandeCPAs.eTheelatteregro
upsealsoeprovideetaxeplanningeserviceseanderepresentetheireclientsebeforeetheeIRS.


AneEAeiseoneewhoeiseadmittedetoepracticeebeforeetheeIRSebyepassingeaespecialeIRS-
administeredeexamination,eorewhoehaseworkedeforetheeIRSeforefiveeyearseandeiseissuedeaepermitetoe
representeclientsebeforeetheeIRS.eCPAseandeattorneyseareenoterequiredetoetakeethiseexaminationean
deareeautomaticallyeadmittedetoepracticeebeforeetheeIRSeifetheyeareeinegoodestandingewithetheeappr
opriateeprofessionalelicensingeboard.


Pagee5eandeCirculare230




1-5.
Taxeplanningeisetheeprocesseofearrangingeone‘sefinancialeaffairsetoeminimizeeanyetaxeliabilit
y.eMucheofemodernetaxepracticeecentersearoundethiseprocess,eandetheeresultingeoutcomeeisetaxeavoid
ance.
Thereeisenothingeillegaleoreimmoraleinetheeavoidanceeofetaxationeaselongeasetheetaxpayereremainsew
ithinelegalebounds.eInecontrast,etaxeevasioneconstitutesetheeillegalenonpaymenteofeaetaxeandecannoteb
eecondoned.eActivitieseofethisesorteclearlyeviolateeexistingelegaleconstraintseandefalleoutsideeofethee
domaineofetheeprofessionaletaxepractitioner.


Pagee6


1-6.
Ineaneopenetaxeplanningesituation,etheetransactioneisenoteyetecomplete;etherefore,etheetaxepra
ctitioneremaintainsesomeedegreeeofecontroleoveretheepotentialetaxeliability,eandetheetransactionemaye
beemodi-
fiedetoeachieveeaemoreefavorableetaxetreatment.eIneaeclosedetransactionehowever,ealleofetheepertine
e

nteactionsehaveebeenecompleted,eandetaxeplanningeactivitiesemayebeelimitedetoetheepresentationeofet
heesituationetoetheegovernmenteinetheemostelegallyeadvantageousemannerepossible.

, Pagee1-4 SOLUTIONSeMANUAL

Pagee6


1-7.
TaxelitigationeisetheeprocesseofesettlingeaedisputeewithetheeIRSeineaecourteofelaw.eTypical
ly,eaetaxeattorneyehandlesetaxelitigationethateprogressesebeyondetheefinaleIRSeappeal.


Pagee6


1-8. CPAseserveeiseaesupportecapacityeinetaxelitigation.


Pagee6


1-9.
Taxeresearcheconsistseofetheeresolutioneofeunansweredetaxationequestions.eTheetaxeresearch
processeincludesetheefollowing:
e




1. Identificationeofepertinenteissues;
2. Specificationeofepropereauthorities;
3. Evaluationeofetheeproprietyeofeauthorities;eand,
4. Applicationeofeauthoritiesetoeaespecificesituation.


Pagee6


1-10.


Circulare230eiseissuedebyetheeTreasuryeDepartmenteandeappliesetoeallewhoepracticeebeforee


theeIRS.ePagee7


1-11.
IneadditionetoeCirculare230,eCPAsemustefollowetheeAICPA‘seCodeeofeProfessionaleCon
ducteandeStatementseoneStandardseforeTaxeServices.eCPAsemustealsoeabideebyetheeruleseofetheea
ppropriateestateeboard(s)eofeaccountancy.


Pagee7


1-12. Aereturneprepareremusteobtaine18ehourseofecontinuingeeducationefromeaneIRS-
approvedeCEeProvider.eTheehoursemusteincludeeae6ecreditehoureAnnualeFederaleTaxeRefresherecou
rsee(AFTR)ethatecoversefilingeseasoneissueseandetaxelaweupdates.eTheeAFTRecourseemusteincludee
aeknowledge-

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