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Tax Return Position Paper
Finance & Accounting
Pages 3 (753 words)
Tax Return Position Paper Name: Institution: Tax Return Position Paper Introduction As a revenue generator, taxation is the government’s method of levying on economic activities that occur within its jurisdiction. The complexity of tax has always made it an integral part of most legal and education systems in many states around the world.
Question One Issued by the government’s administrative, judicial and legislative branches through the Internal Revenue Service (IRS), the Treasury Department and Congress, primary tax law sources bear more statutory authority than the secondary sources. The most significant primary sources include the Internal Revenue Code, public laws and income tax treaties (Lederman & Mazza, 2009). Then there are treasury regulations; revenue procedures; revenue rulings; announcements and notices published by the IRS; legislative history; and legal judgment on tax affairs. Treasury regulations usually remain in the form of proposed, temporary or non-codified tax statutes, until they are certified as final or reliance regulations. The IRS also supplements such sources by making actions and decisions, audit technique guides and the internal revenue manual accessible by the public (Ellen, 2012). Developed by the IRS, these initiatives support the fundamental Internal Revenue Code through taxpayer assistance services such as the Frequently Asked Questions feature, forms on federal tax instructions and IRS publications. References made to decisions arrived at by tax courts are also considerably detailed sources that bear interpretations specific to taxpayers. ...
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