Acc 456 - Tax Return Position Paper

Tax Return Position Paper

ACC/455

​The techniques in use for creating individual and business tax return transactions follow guidelines and rulings set forth under the tax law. The Internal Revenue Code (IRC) of 1939, which contains Title 26 of the United States Code, is the foundations of the tax law (Anderson, Pope, & Kramer, 2010). Ever since its establishment numerous revisions have been applied. The tax law entails primary and secondary sources, substantial authority. This paper will illustrate these sources, the role of the courts and the Internal Revenue Service in interpreting and applying the sources of tax law. This information will aid in preparing tax returns.

​The primary source of tax law comprises the Internal Revenue Code; tax court decisions, income tax treaties, and Public laws. Along with the aforementioned one believes that the legislative process is also another primary source of the tax law. This source starts in the House of Representative the first step is the proposal of new tax bill, the bill receives votes determining whether or not to integrate the proposal of a tax bill. A tax law primary source also includes Treasury Regulations; these regulations are rules and regulations in use by the IRS to implement the laws of the Internal Revenue Code. Treasury Regulations can be proposed, temporary, or final. There are also other rulings and regulations from the IRS that support the IRC such as revenue ruling, revenue procedures, treasury decisions, private letter rulings, IRS publications, notices, and forms, and technical advice memorandum (Anderson, Pope, & Kramer, 2010).

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