True or False? Discuss. a. Congress drafts very tight and specific tax rules to prevent taxpayers from
Question:
a. Congress drafts very tight and specific tax rules to prevent taxpayers from misinterpreting them.
b. Most tax legislation originates in the Senate.
c. The Treasury drafts regulations and issues Revenue Rulings to clarify the tax rules.
d. Revenue Rulings issued by the Treasury can be relied upon by taxpayers, whereas private letter rulings are valid only for the taxpayer who requested the ruling.
e. The courts cannot change the substance of tax laws through their judicial rulings.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 38% (13 reviews)
a False While some tax rules written by Congress are written in the form of very specific restrictions that respond to particular abuses of the tax sy...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Taxes And Business Strategy A Planning Approach
ISBN: 9780132752671
5th Edition
Authors: Myron Scholes, Mark Wolfson, Merle Erickson, Michelle Hanlon
Question Posted:
Students also viewed these Business Law questions
-
Federal tax legislation generally originates in the Senate Finance Committee. Comment on the validity of this statement.
-
In June, Congress enacts legislation that increases income tax rates for all entities effective for the next calendar year. a. Why might such legislation result in an increase in federal tax revenues...
-
Tax rules are often very precise. For example, a taxpayer must ordinarily provide over 50% of another persons support in order to claim a dependency exemption. Why is the threshold over 50% as...
-
The annual revenues associated with several large apartment complexes are $300, $450, $425, $50, $75, and $150 for years 0, 1, 2, 3, 4, and 5, respectively. Determine the net cash flow and whether...
-
A government is torn between selling annual pollution allowances and setting an annual pollution tax. Unlike in the messy real world, this government is quite certain that it can achieve the same...
-
Portsmouth Hospitals NHS Trust promotes equality with due regard to the protected characteristics of age, disability, gender reassignment, marriage and civil partnership, pregnancy and maternity,...
-
A stream of hot gases at \(1,000^{\circ} \mathrm{C}\), having a specific heat of \(6.9 \mathrm{cal} / \mathrm{mol}-{ }^{\circ} \mathrm{C}\), is used to preheat air fed to a furnace. Because of...
-
Norman Co. borrowed $15,000 from the local bank on April 1, 2012, when the company was started. The note had an 8 percent annual interest rate and a one-year term to maturity. Norman Co. recognized...
-
Write a script that does the following: Defines a variable, N = 1000 Generates a vector of N random samples from a normal (Gaussian) distribution with a mean of 100 and standard deviation of 10....
-
A single-phase 50 Hz generator supplies an inductive load of 5,000 kW at a power factor of 0.707 lagging by means of an overhead transmission line 20 km long. The line resistance and inductance are...
-
Assume you are an individual taxpayer. If you expected your marginal tax rate to decline in the next period, what tax planning might you undertake in the current period?
-
Why might Congress and the Treasury avoid drafting tax rules that are very specific? What costs would such rules impose on the Internal Revenue Service? What benefits might they bestow on certain...
-
The points (2, 5) and (3, 7) are on the same straight line. (a) Find another point on the line for which x = 12. (b) Find another point on the line for which y = 3.
-
Could a large decline in asset prices occur without prompting a financial crisis? Any examples?
-
Suppose that the real exchange value of the dollar in terms of the euro appreciates 10 percent. As a result, will the choice to a U.S. consumer be any different if this takes place through a nominal...
-
Why do mutual funds generally appeal more to retail investors than large investors?
-
What approach has the Dodd-Frank bill of 2010 taken to prevent financial crises from developing? Explain.
-
Suppose the U.S. economy slips into recession and interest rates fall while other major economies hold up fairly well and their interest rates do not change. Will the movement in the exchange rate...
-
Leaves carry out many roles in a plants life. Give examples of leaves that do the following: a. Provide protection b. Provide support c. Provide storage d. Obtain nitrogen Are leaf structures and...
-
A report from the college dean indicates that for the previous semester, the grade distribution for the Department of Psychology included 135 As, 158 Bs, 140 Cs, 94 Ds, and 53 Fs. Determine what kind...
-
Elki would like to invest $50,000 in tax-exempt securities. He now has the money invested in a certificate of deposit that pays 5.75% annually. What rate of interest would the tax-exempt security...
-
Leroy and Amanda are married and have three dependent children. During the current year, they have the following income and expenses: Salaries .......... $110,000 Interest income ........ 45,000...
-
Tina owns and operates Timely Turn Tables (TTT) as a sole proprietorship. TTTs taxable income during the current year is $80,000. In addition to the TTT income, Tina has the following income and...
-
What innovative approaches can organizations employ to reconcile competing demands for capital investment and operational expenditure within the constraints of finite budgetary resources, while still...
-
What measures can organizations implement to promote transparency and accountability in the budgeting process, thereby fostering trust and buy-in among stakeholders and facilitating...
-
Based on the following cost expenditures for the construction of an office / warehouse development ( to include direct and indirect charges ) , calculate the peak financial requirement: Month Monthly...
Study smarter with the SolutionInn App