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Sources of Tax Law...

Answer the following questions concerning the sources of tax law.

a. What role does the Internal Revenue Service play in interpreting, and providing guidance on, the tax law? What types of tax law guidance are published by the IRS?

b. What roles do the U.S. Constitution and U.S. Congress play in creating the tax law? Briefly explain how a tax bill becomes a tax law.

c. Describe the components of the common body of tax law (CBOTL).

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a. What role does the Internal Revenue Service play in interpreting, and providing guidance on, the tax law? What types of tax law guidance are published by the IRS?

The mission of the Internal Revenue Service is to apply the tax law with integrity and fairness. It is to provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and by applying the tax law with integrity and fairness to all. The IRS role is to help the large majority of compliant taxpayers with the tax law, while ensuring that the minority who are unwilling to comply pay their fair share.

In order to achieve its objectives, the IRS produces many documents, most of which are published in the weekly Internal Revenue Bulletin (IRB). The IRB has four main parts: the Code (which includes revenue rulings, final ...

Solution Summary

Answer the following questions concerning the sources of tax law.

a. What role does the Internal Revenue Service play in interpreting, and providing guidance on, the tax law? What types of tax law guidance are published by the IRS?

b. What roles do the U.S. Constitution and U.S. Congress play in creating the tax law? Briefly explain how a tax bill becomes a tax law.

c. Describe the components of the common body of tax law (CBOTL).

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