ITX - 32 Flashcards Preview

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Flashcards in ITX - 32 Deck (13)
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0
Q

Which branch passes laws?

A

Legislative branch (Congress)

1
Q

The three branches of government

A

Legislative, executive, judicial branch

2
Q

Which branch enforces the laws?

A

Executive branch (President and governmental agencies)

3
Q

Which branch interprets the laws?

A

Judicial branch (Federal courts)

4
Q

The primary sources of the tax law are?

A
The Internal Revenue Code
Treasury regulations 
Revenue rulings
Private letter rulings 
Court decisions
Congressional committee reports
5
Q

___passes tax legislation, the___enforces it, and the___interpret the law.

A

Congress
Treasury department (IRS)
Tax court and other judges

6
Q

The treasury department enforces tax laws passed by Congress by issuing?

A
Treasury regulations
Revenue rulings
Revenue procedures
Technical advice memorandums
Private letter rulings
7
Q

In taxes, which document has the highest authority?

A

Treasury regulations

8
Q

In taxes, which did not have the force of regulations, but they can be relied on to show how the IRS will treat specific situations.

A

Revenue rulings and technical advice memorandums

9
Q

In taxes, it is usually issued as a result of numerous questions about a specific tax issue.

A

Revenue rulings

10
Q

In taxes, it may be written when a controversy is appealed to the national office by either an IRS agent or a taxpayer.

A

Technical advice memorandums

11
Q

In taxes, it may be requested on behalf of of a taxpayer who presents a specific set of facts. It is applicable only to the taxpayer who requested it.

A

Private letter rulings

12
Q

Some secondary sources for tax research include?

A

Research Institute of America
Commerce Clearing House
Bureau of national affairs