Questions from Federal Taxation

Q: What is tax planning? Explain the difference between tax evasion and

What is tax planning? Explain the difference between tax evasion and tax avoidance and the role of each in professional tax planning.

Q: What is tax planning? Explain the difference between tax evasion and

What is tax planning? Explain the difference between tax evasion and tax avoidance and the role of each in professional tax planning.

Q: What is a determination letter? Which office of the IRS issues

What is a determination letter? Which office of the IRS issues determination letters? What kinds of issues are addressed therein?

Q: In a modern, industrial society, the tax system is derived

In a modern, industrial society, the tax system is derived from several disciplines. Identify the disciplines that play this role in the United States. Explain how each of them affects the U.S. tax sy...

Q: May a tax practitioner who is a CPA form a CPA partnership

May a tax practitioner who is a CPA form a CPA partnership with a former IRS agent who is also a CPA? What limits (if any) would be placed on such a partnership?

Q: What are the six basic steps in conducting tax research? Briefly

What are the six basic steps in conducting tax research? Briefly discuss each step in the tax research process.

Q: Discuss briefly the events leading to the passage of the 16th Amendment

Discuss briefly the events leading to the passage of the 16th Amendment to the U.S. Constitution.

Q: Several groups of individuals do most of the tax compliance work in

Several groups of individuals do most of the tax compliance work in the United States. Identify these groups and briefly describe the kind of work that each group does. In this regard, be sure to defi...

Q: Tax planning falls into two major categories, the “open”

Tax planning falls into two major categories, the “open” transaction and the “closed” transaction. Discuss each type of transaction and describe how each affects tax planning.

Q: If a tax practitioner finds an error in a prior year’s tax

If a tax practitioner finds an error in a prior year’s tax return, what action (if any) must he or she take under Circular 230? What subpart and section addresses this situation?