Question: One important problem that faces a tax researcher is interpretation of the Internal Revenue Code. Comment on each of the following interpretation problems: a. Exceptions

One important problem that faces a tax researcher is interpretation of the Internal Revenue Code. Comment on each of the following interpretation problems:

a. Exceptions to a Code section

b. Words that connect phrases, such as “and” and “or”

c. Recent changes in the Code

d. Effective dates

e. Words that modify percentages, dollar amounts, or time

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a Most Code sections contain a general rule followed by situations under which the taxpayer is excepted from the general rule In some cases the except... View full answer

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