My notes Flashcards
1
Q
Tax Shelter (more likely than not) 50% or more
Substantial authority 40% or more
Reasonable Basis MUST DISCLOSE 20% or more
A
(more likely than not) 50% or more
2
Q
Substantial authority
Reasonable Basis
A
40% or more
MUST DISCLOSE 20% or more
3
Q
expulse
A
expel, kicked out
4
Q
scienter
A
refers to intent or knowledge of wrongdoing
5
Q
FCPA
A
Foreign Corrupt Practices Act
6
Q
RICO
A
Racketeer Influenced and Corrupt Organizations Act
7
Q
Incidental beneficiaries is when it says in contract to use this companies supplies to build something.
A
Incidental beneficiaries may not sue to enforce contracts.
8
Q
tender
A
ship, arranged to be shipped