Principles Of Taxation For Business And Investment Planning 2020 Edition
23rd Edition
ISBN: 9781259969546
Author: Sally Jones, Shelley C. Rhoades-Catanach, Sandra R Callaghan
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 5, Problem 7AP
Indicate whether each of the following items is considered a primary authority or a secondary authority.
- a. Reg. §1.305-1(b).
- b. Rev. Rul. 67-225, 1967-2 C.B. 238.
- c. S.M. Jones, S.C. Rhoades-Catanach, and S. Callaghan, Principles of
Taxation for Business and Investment Planning (New York: McGraw-Hill Education, 2017). - d. PLR 201240007.
- e. Helvering v. Alabama Asphaltic Limestone Co., 315 U.S. 179 (1942).
- f. United States Tax Reporter Code Arranged Explanations 614 Gross income defined.
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Multiple choice
1. In view of the powers vested by the Tax Code to the Commissioner of Internal Revenue (CIR), the CIR
accredited specific banks and authorized such as its agent in receiving payments of taxes. The act of the CIR is in keeping with the principle of:
a. Administrative Feasibility
b. Fiscal Adequacy
c. Situs of Taxation
d. Theoretical Justice
Classify each of the following items as a primary (P) or secondary (S) tax research authority:
1. The IRC
2. A Tax Court case
3. A textbook on corporate taxation
4. Treasury regulations
5. An IRS revenue ruling
The __________ is the governing body which investigates and reports on the use of public funds while the __________ is the governing body responsible for collecting taxes.
a.)
IFRS; FASB
b.)
SEC; GASB
c.)
GAO; IRS
d.)
AICPA; GAAP
Chapter 5 Solutions
Principles Of Taxation For Business And Investment Planning 2020 Edition
Ch. 5 - Why is tax research necessary? In other words, why...Ch. 5 - Prob. 2QPDCh. 5 - Explain the difference between a tax issue and a...Ch. 5 - Explain the difference between primary and...Ch. 5 - Discuss why and how a researcher might use...Ch. 5 - Prob. 6QPDCh. 5 - Prob. 7QPDCh. 5 - Prob. 8QPDCh. 5 - Explain why, in the course of tax research, it may...Ch. 5 - Prob. 10QPD
Ch. 5 - Prob. 1APCh. 5 - Prob. 2APCh. 5 - Prob. 3APCh. 5 - Prob. 4APCh. 5 - Indicate whether each of the following statements...Ch. 5 - Prob. 6APCh. 5 - Indicate whether each of the following items is...Ch. 5 - Prob. 8APCh. 5 - Prob. 9APCh. 5 - Prob. 10APCh. 5 - Which of the following statements regarding the...Ch. 5 - Which of the following statements regarding...Ch. 5 - Prob. 13APCh. 5 - In researching the taxability of noncash...Ch. 5 - Prob. 2IRPCh. 5 - Marvin is researching the tax rules related to...Ch. 5 - Prob. 4IRPCh. 5 - John is a dentist. His neighbor Wade is a...Ch. 5 - Prob. 6IRPCh. 5 - Prob. 7IRPCh. 5 - Natalie appeared on a game show last year and won...Ch. 5 - Prob. 1RPCh. 5 - Prob. 2RPCh. 5 - Prob. 3RPCh. 5 - Prob. 4RPCh. 5 - Find and provide a citation for the IRC section...Ch. 5 - Prob. 6RPCh. 5 - Find Rev. Rul. 72-542, 1972-2 C.B. 37, and answer...Ch. 5 - Find a 2006 10th Circuit Court of Appeals decision...Ch. 5 - Prob. 9RPCh. 5 - Prob. 10RPCh. 5 - Prob. 11RPCh. 5 - Prob. 12RPCh. 5 - Prob. 13RPCh. 5 - Prob. 14RPCh. 5 - In researching a tax issue, you locate the case...Ch. 5 - Prob. 16RPCh. 5 - Find Revenue Ruling 83-163, 1983-2 C.B. 26, and...Ch. 5 - Prob. 18RPCh. 5 - Prob. 19RPCh. 5 - Find the IRS website and locate the following...Ch. 5 - Prob. 1TPCCh. 5 - Prob. 2TPCCh. 5 - Lucille is an avid boater living near Gotham City....
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