Question 1. What is meant by the terms tax avoidance and tax evasion? Is there a difference between the two? Why should one be legal and the other illegal?
Question 2. A client comes to your tax firm. She asks you to research a tax issue and advise her on how to reduce her exposure to an IRS audit. What resources would you use in your research, and what would your advice be?
Quiz
1 Question : (TCO 1) Which, if any, of the following would tend to decrease the ad valorem tax on real estate?
2. Question : (TCO 1) Characteristics of a national sales tax include:
3. Question : (TCO 1) Which statement is FALSE with respect to tax treaties?
4. Question : (TCO 8) State income taxes generally can be characterized by:
5. Question : (TCO 8) Which, if any, of the following items is a deduction for AGI?
6. Question : (TCO 8) In 2011, Barney had the following transactions:
7. Question : (TCO 8) Which, if any, of the following statements does NOT correctly describe the "kiddie tax"?
8. Question : (TCO 9) What are pitfalls in interpreting the Internal Revenue Code?
9. Question : (TCO 11) Which of the following indicates that a decision has precedential value for future cases?
10. Question : (TCO 12) Which of the following is characteristic of the IRS audit procedure?