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Pages:
1 page/β‰ˆ275 words
Sources:
1 Source
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 5.27
Topic:

Importance of a Multifaceted Approach to Tax Research

Essay Instructions:

Please respond to the following post:
Often when it comes to tax codes or tax research, easy and clear solutions are hard to come by. Taxes are a complex system that not always give an answer to a certain situation, or when it does, it is simply not sufficient to resolve a particular situation. If the IRC sections are short of solution, the next thing would be to learn about similar cases that have been passed by legal authorities. Similar judgment outcomes can shade a light on all the variables that were taken into consideration. We can also use U.S. Treasury Regulations for an accurate interpretation of the tax code, or we can consult with tax experts that have years of experience.
Committee reports are one set of documents among the variety of document types produced by House and Senate committees that address legislative and other policy issues, investigations, and internal committee matters. (Congress.gov | Library of Congress, 2019). The reference frequency will be determined by the importance of the situation. At times, it is essential to understand the goals and motives behind passed laws and tax codes just as it is important to understand them. Committee reports provide clarity through history and principles in the presence of ambiguity.
Additional resources should be sought out on unique situations or when the law is vague, and when interpretation can go either way. We should also use additional resources when the law is debatable or overruled by authorities such as the supreme court in significant cases. To come up with the best solution, tax research must be relevant with all the recent court decisions and developments. Tax experts should investigate thoroughly the issue itself that they are facing and to consider all circumstances. For example, If a client is trying to understand if he is entitled to claim a charitable deduction, he can rely on his tax experts to explore the tax codes and other resources to gain a better understanding of the client particular situation.

Essay Sample Content Preview:
This analysis is well-grounded in asserting that tax research requires a multifaceted approach. The intricacy and often equivocal nature of tax law mean that a comprehensive understanding relies on carefully examining a range of resources.
It is imperative for researchers conducting tax-related inquiries to be discerning about the sources from which they glean information. The authority of specific sources, such as U.S. Treasury Regulations, is unquestionable. However, other sources, such as the IRS's "Tax Topics" series, lack binding authority and should not be relied upon as primary sources of guidance (Ca...
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