Solution Manual For Federal Tax Research, 13th Edition
by Roby Sawyers, Steven Gill
Elements of Tax Practice - ANSWER:compliance, planning, litigation, research
Tax compliance - ANSWER:the gathering of information, evaluation, and
classification of such information, and the filing of any necessary tax returns, along
with representation of clients at meetings with tax officials.
Tax Planning - ANSWER:the process of arranging one's financial affairs to minimize
tax liabilities
tax litiagtion - ANSWER:the process of settling disputes with the IRS in the courts
tax research - ANSWER:identifying the issues, finding proper authorities, evaluating
appropriateness of the authorities, and applying the authorities to specific facts.
circular 230 - ANSWER:contains the rules governing practice before the IRS, states
who may conduct such a practice, and sets forth the disciplinary procedures applying
to persons who practice before the IRS.
who may practice before the IRS? - ANSWER:Attorneys, CPAs, enrolled agents, and
enrolled actuaries
Unenrolled persons may... - ANSWER:practice before the IRS on their own behalf and
for other specified taxpaying entities.
Subpart A to Circular 230: - ANSWER:Rules Governing Authority to Practice
Subpart B to Circular 230: - ANSWER:Duties and Restrictions Relating to Practice
before the IRS
Subpart C to Circular 230: - ANSWER:Rules Applicable to Disciplinary Proceedings
Subpart D to Circular 230: - ANSWER:Rules Applicable to Disqualification of
Appraisers
Subpart E to Circular 230: - ANSWER:General Provisions
AICPA Code of Professional Conduct governs who? - ANSWER:CPAs who are
members of the Institute
AICPA code of prof conduct principles express what? - ANSWER:basic tenets,
including the responsibility to perform professional services with integrity,
objectivity, and independence.
, AICPA code of prof conduct rules provide what? - ANSWER:Rules provide a set of
enforceable ethical standards.
Who do AICPA code of prof conduct rules apply to? - ANSWER:Rules apply to CPAs,
their employees, partners or shareholders, and others who act on behalf of CPAs.
Statements on Standards for Tax Services (SSTS) are enforceable rules of the...? -
ANSWER:AICPA
SSTS No. 1: Tax Return Positions... - ANSWER:good faith belief that a recommended
position has a realistic possibility of being sustained.
SSTS No. 2: Answers to Questions on Returns - ANSWER:reasonable effort to obtain
and provide appropriate answers to all questions on the taxpayer's return.
SSTS No. 3: Certain Procedural Aspects of Preparing Returns - ANSWER:rely without
verification upon information provided unless such information appears to be
incorrect, incomplete, or inconsistent.
SSTS No. 4: Use of Estimates - ANSWER:may use estimates if it is impractical to
obtain exact data and the estimated amounts appear reasonable.
SSTS No. 5: Departure from a Position Previously Concluded in an Administrative
Proceeding or Court Decision - ANSWER:disposition of an item in a prior year does
not prevent the member from recommending a different treatment of a similar item
in a later year's return.
SSTS No. 6: Knowledge of Error: Return Preparation and Administrative Proceedings -
ANSWER:when a member learns of an error in a previously filed return or becomes
aware that a required return was not filed, he or she must advise the taxpayer
promptly.
SSTS No. 7: Form and Content of Advice to Taxpayers - ANSWER:the member must
use judgment that reflects professional competence and serves the taxpayer's
needs.
What did Sarbanes-Oxley Act do? - ANSWER:made it "unlawful" for an auditor to
provide any of the nonaudit services
NONREGULATORY ETHICAL BEHAVIOR MODELS: - ANSWER:Morality
Social responsibility
General ethical standards
Ethical behavior
Is CPA preparation of "simple" tax returns unauthorized or not? - ANSWER:not
unauthorized
by Roby Sawyers, Steven Gill
Elements of Tax Practice - ANSWER:compliance, planning, litigation, research
Tax compliance - ANSWER:the gathering of information, evaluation, and
classification of such information, and the filing of any necessary tax returns, along
with representation of clients at meetings with tax officials.
Tax Planning - ANSWER:the process of arranging one's financial affairs to minimize
tax liabilities
tax litiagtion - ANSWER:the process of settling disputes with the IRS in the courts
tax research - ANSWER:identifying the issues, finding proper authorities, evaluating
appropriateness of the authorities, and applying the authorities to specific facts.
circular 230 - ANSWER:contains the rules governing practice before the IRS, states
who may conduct such a practice, and sets forth the disciplinary procedures applying
to persons who practice before the IRS.
who may practice before the IRS? - ANSWER:Attorneys, CPAs, enrolled agents, and
enrolled actuaries
Unenrolled persons may... - ANSWER:practice before the IRS on their own behalf and
for other specified taxpaying entities.
Subpart A to Circular 230: - ANSWER:Rules Governing Authority to Practice
Subpart B to Circular 230: - ANSWER:Duties and Restrictions Relating to Practice
before the IRS
Subpart C to Circular 230: - ANSWER:Rules Applicable to Disciplinary Proceedings
Subpart D to Circular 230: - ANSWER:Rules Applicable to Disqualification of
Appraisers
Subpart E to Circular 230: - ANSWER:General Provisions
AICPA Code of Professional Conduct governs who? - ANSWER:CPAs who are
members of the Institute
AICPA code of prof conduct principles express what? - ANSWER:basic tenets,
including the responsibility to perform professional services with integrity,
objectivity, and independence.
, AICPA code of prof conduct rules provide what? - ANSWER:Rules provide a set of
enforceable ethical standards.
Who do AICPA code of prof conduct rules apply to? - ANSWER:Rules apply to CPAs,
their employees, partners or shareholders, and others who act on behalf of CPAs.
Statements on Standards for Tax Services (SSTS) are enforceable rules of the...? -
ANSWER:AICPA
SSTS No. 1: Tax Return Positions... - ANSWER:good faith belief that a recommended
position has a realistic possibility of being sustained.
SSTS No. 2: Answers to Questions on Returns - ANSWER:reasonable effort to obtain
and provide appropriate answers to all questions on the taxpayer's return.
SSTS No. 3: Certain Procedural Aspects of Preparing Returns - ANSWER:rely without
verification upon information provided unless such information appears to be
incorrect, incomplete, or inconsistent.
SSTS No. 4: Use of Estimates - ANSWER:may use estimates if it is impractical to
obtain exact data and the estimated amounts appear reasonable.
SSTS No. 5: Departure from a Position Previously Concluded in an Administrative
Proceeding or Court Decision - ANSWER:disposition of an item in a prior year does
not prevent the member from recommending a different treatment of a similar item
in a later year's return.
SSTS No. 6: Knowledge of Error: Return Preparation and Administrative Proceedings -
ANSWER:when a member learns of an error in a previously filed return or becomes
aware that a required return was not filed, he or she must advise the taxpayer
promptly.
SSTS No. 7: Form and Content of Advice to Taxpayers - ANSWER:the member must
use judgment that reflects professional competence and serves the taxpayer's
needs.
What did Sarbanes-Oxley Act do? - ANSWER:made it "unlawful" for an auditor to
provide any of the nonaudit services
NONREGULATORY ETHICAL BEHAVIOR MODELS: - ANSWER:Morality
Social responsibility
General ethical standards
Ethical behavior
Is CPA preparation of "simple" tax returns unauthorized or not? - ANSWER:not
unauthorized
