The profession of tax practice involves four principal areas of activity. Discuss these four areas. Select the four areas of practice and a description of each. Area of practice Description Financial planning Assist clients with planning for all of their financial affairs. Tax planning Tax research Tax reform Argue for a refund or settlement from the IRS Assist clients with planning for all of their financial affairs. Process of developing the most defensibly correct solution to a tax problem. Process of reducing taxes so as to maximize a taxpayer's after-tax return Proposals to allow the tax system to work better. Tax return preparation and assisting the taxpayer in dealing with the IRS