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Source Of Tax Research

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Source of Tax Research Starting any tax research, assessing, or finding sources of tax research is imperative to tax planning, preparers, and auditors. The level of research, findings, and access is not limited to just regulations and reviews but also includes publications, amendments, and newsletters. The goal is to always make sure that the tax situation is supported by fact based research. This ensures that if the client is faced with audits by a given tax organization whether it be State or Federal that all proper steps and guidelines were used to properly guide the client. Below will be include of the authority of sources, where you can find those sources, and what tax situations they would help

Tax Research
Tax research is the basic …show more content…

Per (Dennis-Escoffier & Fortin, 2017) you have primary and secondary sources of authority and each one always for proper research and understanding of tax rules, regulations, and amendments (p. 67). Primary sources are true regulations and court decisions that have been enacted per Congress and carry the most weight over secondary sources. Both sources, allow the tax preparer to obtain the knowledge and information necessary to establish facts for tax situations. Primary sources have the most authority and are true sources of law and that come from a branch of government Congress, Courts, and Treasury regulations according to (Lindley, S & Jong, R, 1999, Tax Research A Hierarchy of Authorities, retrieved from http://www.americanbar.org/content/newsletter/publications/gp_solo_magazine_home/gp_solo_magazine_index/99janlindley.html). Secondary sources are journals, newsletters, and publications that still carry weight but are not the primary source when it comes to tax research or preparation.

Primary & Secondary …show more content…

Primary sources can be found via the Internal Revenue Code, treasury regulations through the committee reports, and IRS announcements and Notices per (Dennis-Escoffier & Fortin, 2017) (p. 67). Majority of these sources are free by reviewing the IRS website at www.irs.gov. You can find many tax situations with the primary source of research as this is the true source of tax laws and what is truly the standard for tax research and preparation. Secondary sources are generalized as newsletters, publications, and general opinion of tax preparers. Examples of secondary would be the IRS website, tax guides, and tax preparation sites such as Turbo Tax, H&R Block. These sources are generally not free and require you to pay or to utilize once a year when filing your own taxes. Secondary sources are used for a resource factor to help generalize the official tax law and to put a better interpretation on the law. This would be good for research purposes when you are looking for a certain tax situation for a client or a question that isn’t quite in a standard law but between the lines. Maybe, how a tax credit should be taken for this situation or a business tax for a

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