The assignment below will Â assess your knowledge and understanding of legislative and Â administrative tax authorities, and your ability to apply that knowledge Â to solve problems.
You will use CCH IntelliConnect (aka CCH Omnitax or AnswerConnect) exclusively for your tax research for this course (access provided through the Library).
Answer Â the following homework problems thoroughly and in complete sentences. Â Save your answers in a MicrosoftÂ® WordÂ® document and submit them to the Â Dropbox.
- Discuss the importance of the following important Â dates in the tax history of the United States: 1954, 1939, 1913, 1895, Â and 1861?
- What 3 actions can the President take when a tax bill reaches his/her desk and what is the result of each of those actions?
- What modification was made to Code Sec. 53(e)(2) as a result of the Technical Corrections Act of 2007?
- What is the title of Section 111 of P.L.. 113-295?
- Prepare a citation for each of the following assuming the information provided below is accurate:
- 51st Revenue Ruling of 2005 that is found on page 389 of the 3rd volume of the Cumulative Bulletin
- 15th Revenue Procedure in 2017, found in the 19th weekly issue of the Internal Revenue Bulletin on page 821.
- Examples Â of the tax treatment of qualified residence interest when secured debt Â does not exceed the adjusted purchase price found in the 2nd Â subparagraph of paragraph (c) of the 10th (temporary) Regulation in Code Â Section 163 related to Type 1 Tax Regulation (income tax).
- Find Â and cite a TAM that answers the question of whether a television Â station license is of â€œlike kindâ€ to a radio station license. Indicate Â its holding.
- Find and cite a PLR that answers the question of Â whether race car fuel (110) is subject to the excise tax on gasoline. Â Indicate its holding.
- Find and cite two AODs related to the Sidney Olson Tax Court case. Indicate each AODâ€™s holding and explain why are there two?
Everett, J. O., Henning, C., & Nichols, N. (2016). Contemporary Tax Practice: Research, Planning and Strategies (4 ed.). Riverwoods, IL: Wolters Kluwer.