D4 Taxpayers who wish to challenge the FTB on any of its final determinations musttake their cases / concerns to which jursidictional body?Select one:O a. The Board of Equalization or DOEO b. US District Tox CourtO C. The California Office of Tax AppealsO d. There is no further point past the FTB for contesting their final determinations

A taxpayer refers to an individual or business who is obliged to pay the taxes to the central,…

Answered: O C. The California Office of Tax…

Business

Accounting

O C. The California Office of Tax Appeals

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter2: Working With The Tax Law

Section: Chapter Questions

Problem 17DQ

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Concept explainers

Loanable Funds Theory

The loanable funds theory is a neoclassical theory that determines the interest rate where the demand for loanable investments and supply of loanable funds intersect. To determine the interest rate, this theory employs linear regression and a demand curve. At the equilibrium point, demand for borrowings and demand for the issuance of borrowing funds are inextricably linked. This point of equilibrium should equalize demand and the supply of money available for borrowing.

Question

Taxpayers who wish to challenge the FTB on any of its final determinations must
take their cases / concerns to which jursidictional body?
Select one:
O a. The Board of Equalization or DOE
O b. US District Tox Court
O C. The California Office of Tax Appeals
O d. There is no further point past the FTB for contesting their final determinations

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If a U.S. Tax Court agrees with the taxpayer on appeal that the IRS position was largely unjustified, which of the following is correct? The taxpayer must still pay administrative and litigation costs. The taxpayer may recover administrative but not litigation costs. The taxpayer may recover litigation but not administrative costs. To be eligible to recover some of the administrative and litigation costs, the taxpayer must have tried to resolve the case administratively, including going through the appeals process, and must have given the IRS the information necessary to resolve the case. None of the above.
Taxpayers have the right to have an IRS examination take place at: The IRS office Any city of the taxpayer's choosing A neutral site A reasonable time and place None of the above
Pursuant to the Golsen Rule: a. the Tax Court must follow all Circuit Court of Appeals decisions. b. the Tax Court must follow decisions of the Court of Appeals for the Circuit in which the taxpayer's appeal may be filed. c. the Tax Court may adopt its own interpretation of the tax law, if the taxpayer's Circuit Court has not ruled on the matter. d. Two of the above.
The following is true of a Circuit of Appeals: a. The taxpayer who originated his claim in a US District Court may be appeal decision to any Circuit Court of Appeals the taxpayer chooses b. The Court of Appeals may affirm the lower court decision, reverse the decision or retry the facts on appeal. c. The Circuit Courts of Appeal follow stare decisis and are bound by their previous decisions, but they are not required to follow the decisions of other Circuits d. All of the above.
The tax court is hearing a case for a taxpayer living in Pennsylvania. The 1st and 3rd Circuit Courts of Appeals have previously ruled in other cases involving the issue in the taxpayer's favor. Alternatively, the 2nd, 4th, 5th, 6th, 7th, and 9th have all ruled in the IRS's favor on this tax issue. How would you expect the tax court to decide this case?