Which is granted automatically at the request of the taxpayer?
An extension to file is granted automatically at the request of the taxpayer. Which of the following statements are correct regarding tax filing requirements? (Check all that apply.) Estates are required to file income tax returns if their gross income exceeds $600.
What action does the 90-day letter provide a taxpayer?
What action does the 90-day letter provide a taxpayer if the taxpayer does NOT agree with an assessment after being audited by the IRS and participating in the appeals conference? The taxpayer should petition the U.S. Tax Court to hear the case.
What is the general explanation of tax legislation called?
The 'General Explanation' of tax legislation, called the "Blue Book," is prepared by the Joint Conference Committee. Trade or business deductions are contained in Code Section 62.
What are the issues that tax treaties commonly address?
List several issues that tax treaties commonly address. Any tax matter may be covered in a tax treaty with another country. Types of issues commonly covered by treaties include: • How to treat the business and investment income of a visiting taxpayer. • When the visitor is subject to the host country's tax laws.
What are the issues covered by tax treaties?
Types of issues commonly covered by treaties include: • How to treat the business and investment income of a visiting taxpayer. • When the visitor is subject to the host country's tax laws.
What is tax treaty?
Tax treaties are agreements negotiated between countries concerning the treatment of entities subject to tax in both countries. True. The Joint Conference Committee is called on to resolve differences between the House Ways and Means Committee version and the full House version of tax legislation.
What is the Blue Book of Tax Law?
The 'General Explanation' of tax legislation, called the "Blue Book," is prepared by the Joint Conference Committee. False, prepared by Joint Committee on Taxation. Trade or business deductions are contained in Code Section 62. False, 162.
What is a subparagraph in the Internal Revenue Code?
Subparagraphs are the major divisions of the Internal Revenue Code covering such broad topics as Income Taxes, and Estate and Gift Taxes. False, SubTITLES. When a Code provision and a provision under a treaty conflict, the one adopted earlier in time generally controls. False, later, not earlier.
What is the Constitution's taxing power?
Constitution requires that: a. taxes imposed by Congress must apply uniformly throughout the U.S. b. no direct taxes may be imposed on income.
Can Congress override a presidential veto of a tax bill?
Congress cannot override a Presidential veto of a tax bill. False, can with sufficient number of votes. The North American Free Trade Agreement (NAFTA) is a non-tax international treaty which addresses some tax-related issues.
What was the first tax code?
The first Internal Revenue Code was: the Internal Revenue Code of 1939. The first federal income tax law was passed as a result of the: Civil War. A "tax protester" is: a. a person who files a "frivolous" return with the IRS. b. a person who brings a "frivolous" matter before the Tax Court.
What is a 107-16?
P.L. 107-16 is the citation for: the 16th public law enacted in the 107th Congress. In the House of Representatives, tax law changes are primarily considered by: the Ways and Means Committee. If any differences exist between the House- and Senate-passed versions of a tax bill, the bill is referred to: