Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The responsibility to prove entries, deductions, and statements made on your tax returns is known as the burden of proof. One must be able to

The responsibility to prove entries, deductions, and statements made on your tax returns is known as the burden of proof. One must be able to prove certain elements of expenses in order to deduct them. The IRS Restructuring and Reform Act of 1998 shifted the burden of proof to the IRS in civil tax matters. This act, however, does not relieve the taxpayer of the need to keep proper records.

Review the siteThe Internal Revenue Service Restructuring and Reform Act of 1998, which describes the restructuring of the IRS to a customer service organization. Then, answer this question: Why would the IRS bear the burden of proof yet require the taxpayer to keep careful records?

https://www.treasury.gov/tigta/iereports/2010reports/2010IER002fr.html

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting Information for Decisions

Authors: John J. Wild

9th edition

1259917045, 978-1259917042

More Books

Students also viewed these Accounting questions

Question

, : not ? ? ? v v ; ? ? ? , v v ; not ? ? ? ; ? ? ? , v v ;

Answered: 1 week ago