Question 1

According to the AICPA's Statements on Standards for Tax Services, what duties does the tax practitioner owe the client?

Accepted Answer

The answer of According to the AICPA's Statements on Standards...

Question 2

Distinguish between an annotated tax service and a topical tax service.

Accepted Answer

The answer of Distinguish between an annotated tax service and...

Question 3

Under what circumstances might a tax advisor find the provisions of a tax treaty useful?

Accepted Answer

The answer of Under what circumstances might a tax advisor...

Question 4

Communicate the result to the client. The communication with the client should not result in a misunderstanding. While discussions with the client may be suitable, it is recommended by the AICPA's Statements on Standards for Tax Services that the communication be written where issues are important, unusual or complicated. Many firms require that conclusions be communicated in writing.
Page Ref.: I:15-3 and I:15-4

Accepted Answer

The answer of Communicate the result to the client. The...

Question 5

In list form, outline the steps to follow when using a tax service.

Accepted Answer

The answer of In list form, outline the steps to...

Question 6

Compare and contrast proposed, temporary, and final regulations.

Accepted Answer

The answer of Compare and contrast proposed, temporary, and final...

Question 7

Check the supplementary (current developments)material.

Accepted Answer

The answer of Check the supplementary (current developments)material....

Question 8

According to the Statements on Standards for Tax Services, what belief should a CPA have before taking a pro-taxpayer position on a tax return?

Accepted Answer

The answer of According to the Statements on Standards for...

Question 9

Describe the appeals process in tax litigation.

Accepted Answer

The answer of Describe the appeals process in tax litigation....

Question 10

What is the purpose of a citator?

Accepted Answer

The answer of What is the purpose of a citator?...

Question 11

The facts must be determined. However, some facts may not have occurred in an open-fact situation. Where facts have not yet occurred, it is useful to review tax research material to determine which facts would produce the most favorable outcome.

Accepted Answer

The answer of The facts must be determined. However, some...

Question 12

Discuss the differences and similarities between regular and memorandum decisions issued by the U.S. Tax Court.

Accepted Answer

The answer of Discuss the differences and similarities between regular...

Question 13

The issues must be determined. The issues may not always be clear and may be different than the client believes. Thus, only a thorough understanding of the facts permits an adequate formulation of the issues.

Accepted Answer

The answer of The issues must be determined. The issues...

Question 14

In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.

Accepted Answer

The answer of In which courts may litigation dealing with...

Question 15

Read the applicable material.

Accepted Answer

The answer of Read the applicable material....

Question 16

Compare and contrast "interpretative" and "statutory" regulations.

Accepted Answer

The answer of Compare and contrast "interpretative" and "statutory" regulations....

Question 17

Determine which authorities are applicable.

Accepted Answer

The answer of Determine which authorities are applicable....

Question 18

Assume that the Tax Court decided an expenditure in question was deductible. The government appealed to the Fifth Circuit, which reversed the decision and held it was not deductible. No other circuits have ruled on the issue.
A new case has just been filed in the Tax Court. How will the Tax Court rule if this new case is appealable to the Tenth Circuit? Would your answer be different if the case was appealable to the Fifth Circuit?

Accepted Answer

The answer of Assume that the Tax Court decided an...

Question 19

Explain the legislative reenactment doctrine.

Accepted Answer

The answer of Explain the legislative reenactment doctrine....

Question 20

Evaluate the authorities. Choose the ones to follow when there are conflicting authorities.

Accepted Answer

The answer of Evaluate the authorities. Choose the ones to...

Quiz 15: Tax Research