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Exam 2: Tax Compliance, the Irs, and Tax Authorities

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Question 61

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If a taxpayer is due a refund, she does not have to file a tax return.

A) True
B) False

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Question 62

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Lindy, a tax intern, is beginning her first tax research case for her employer. Her manager has given her a basic understanding of the facts and has identified the basic research question. Lindy is now ready to begin searching for relevant tax authorities. Describe the different types of research tools available to help a tax researcher locate relevant authority and identify which type may be especially useful for Lindy.

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Tax services aid the researcher in ident...

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Question 63

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This year April 15th falls on a Saturday. Individual tax returns will be due on:

An extension to file a tax return does not extend the due date for tax payments.

According to Statement on Standards for Tax Services No. 1, a tax practitioner can recommend a tax return position:

Lakeisha, a 1st year staff accountant, was researching a tax issue and found what appears to be the answer to her question in her introductory tax textbook that she bought three years ago. She isthrilled because she thought it would take much longer to find her answer. What type of authority is the textbook? What are other examples of this type of authorities? Can Lakeisha base her research conclusion on the textbook or similar authorities? Any suggestions for Lakeisha?

Which of the following is not considered a primary authority?

Temporary Regulations have more authoritative weight than revenue rulings.

Which of the following committees typically initiates tax legislation?

Chris and Chuck were recently debating whether the Internal Revenue Code is "logical." Chris offers that she has briefly reviewed the Code and could hardly understand its organizational structure, if there is one. Please describe the basic organization of the code and how understanding its organization may be especially beneficial to the tax researcher.

The Internal Revenue Code and tax treaties are examples of statutory authorities.

Tina has a very complex tax return and it looks like she will not be able to file her tax return by its due date. When is her tax return due? What are Tina's options for paying her tax due and filing her tax return this year? What are the consequences if Tina does not file or pay her tax timely? Be specific.