100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Solution Manual for Federal Tax Research 12th Edition by Roby Sawyers, Steven Gill all chapters covered, ISBN: 9780357366387 $19.49   Add to cart

Exam (elaborations)

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

 12 views  0 purchase
  • Course
  • Federal Tax Research 12th Edition by Roby
  • Institution
  • Federal Tax Research 12th Edition By Roby

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...

[Show more]

Preview 4 out of 243  pages

  • October 12, 2024
  • 243
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
book image

Book Title:

Author(s):

  • Edition:
  • ISBN:
  • Edition:
  • Federal Tax Research 12th Edition by Roby
  • Federal Tax Research 12th Edition by Roby
avatar-seller
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-

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller TIFFACADEMICS. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $19.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72001 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$19.49
  • (0)
  Add to cart