Assume that the taxpayer has a tax issue in which the only authorities on point are as follows: (a) a private letter ruling that favors the taxpayer’s position and (b) a Tax Court regular decision that opposes taxpayer’s position. What does the researcher advise the taxpayer?
Answer to relevant QuestionsWhat were the issue(s) involved in National Westminster Bank v. United States, 512 F.3d 1347; 101 AFTR2d 490, 2008-1 USTC 50,14 (Fed. Cir. 2008)? What is the proper citation for the prior decision in this case?Locate three different tax website, and identify three different items available on each website.State the objective of the Single Audit Act. When is this act applicable?Locate SEC Accounting and Auditing Enforcement Release No. 3010. What did that SEC release discuss?What are some risk factors associated with management fraud and employee fraud?
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