ITX - 32 Flashcards Preview

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Flashcards in ITX - 32 Deck (13)
0

The three branches of government

Legislative, executive, judicial branch

1

Which branch passes laws?

Legislative branch (Congress)

2

Which branch enforces the laws?

Executive branch (President and governmental agencies)

3

Which branch interprets the laws?

Judicial branch (Federal courts)

4

The primary sources of the tax law are?

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

5

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

Congress
Treasury department (IRS)
Tax court and other judges

6

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

Treasury regulations
Revenue rulings
Revenue procedures
Technical advice memorandums
Private letter rulings

7

In taxes, which document has the highest authority?

Treasury regulations

8

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.

Revenue rulings and technical advice memorandums

9

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

Revenue rulings

10

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

Technical advice memorandums

11

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.

Private letter rulings

12

Some secondary sources for tax research include?

Research Institute of America
Commerce Clearing House
Bureau of national affairs