Questions from General Taxation

Q: What precedents must each of these courts follow? a

What precedents must each of these courts follow? a. U.S. Tax Court. b. U.S. Court of Federal Claims. c. U.S. District Court.

Q: Comment on these statements. a. The tax law

Comment on these statements. a. The tax law is created and administered in the same way as other Federal provisions. b. Most taxpayers find it too expensive and time-consuming to sue the government i...

Q: A friend of yours, who is a philosophy major, has

A friend of yours, who is a philosophy major, has overheard the conversation described in Problem 28 and declares that all tax research is “immoral.” She says that tax research enables people with sub...

Q: Using the title “The Federal Taxing System Operates Outside the U

Using the title “The Federal Taxing System Operates Outside the U.S. Constitution,” write a two-page paper to submit in your Government Policy course. Do not address “tax protester” issues (e.g., that...

Q: Develop an outline from which you will deliver a 10-minute

Develop an outline from which you will deliver a 10-minute talk to the local Chamber of Commerce, with the title “Regulation of the Tax Profession in the 21st Century.” Use no more than four PowerPoin...

Q: Ovate, Inc., earns $140,000 in book income

Ovate, Inc., earns $140,000 in book income before tax and is subject to a 35% marginal Federal income tax rate. Ovate records a single temporary difference: Warranty expenses deducted for book purpose...

Q: Interpret each of the following citations. a. Temp.

Interpret each of the following citations. a. Temp. Reg. § 1.956–2T. b. Rev. Rul. 2012–15, 2012–23 I.R.B. 975. c. Ltr. Rul. 200204051.

Q: Ion Corporation reports an income tax expense/payable for book purposes

Ion Corporation reports an income tax expense/payable for book purposes of $200,000 and $250,000 for tax purposes. According to Ion’s management and financial auditors, Ion will only be able to use $3...

Q: RadioCo, a domestic corporation, owns 100% of TVCo,

RadioCo, a domestic corporation, owns 100% of TVCo, a manufacturing facility in the European country Adagio. TVCo has no operations or activities in the United States. The U.S. tax rate is 35%, and th...

Q: Prance, Inc., earns pretax book net income of $800

Prance, Inc., earns pretax book net income of $800,000 in 2014. Prance acquires a depreciable asset in 2014, and first-year tax depreciation exceeds book depreciation by $80,000. Prance reported no ot...