True or False? Discuss. a. Congress drafts very tight and specific tax rules to prevent taxpayers from
Question:
a. Congress drafts very tight and specific tax rules to prevent taxpayers from misinterpreting them.
b. Most tax legislation originates in the Senate.
c. The Treasury drafts regulations and issues Revenue Rulings to clarify the tax rules.
d. Revenue Rulings issued by the Treasury can be relied upon by taxpayers, whereas private letter rulings are valid only for the taxpayer who requested the ruling.
e. The courts cannot change the substance of tax laws through their judicial rulings.
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a False While some tax rules written by Congress are written in the form of very specific restrictions that respond to particular abuses of the tax sy...View the full answer
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Related Book For
Taxes And Business Strategy A Planning Approach
ISBN: 9780132752671
5th Edition
Authors: Myron Scholes, Mark Wolfson, Merle Erickson, Michelle Hanlon
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