tax resources 2014 update

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  • 1. Tax Resources

2. It All Starts with the Constitution Section 8. Clause 1. The Congress shall have Power to lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States. 3. Statutory Basis The Revenue Act of 1913 also known as the Tariff Act of 1913 Every two to three years ended up with new statue 1939 Internal Revenue Code of 1939 codification of tax law Changes passed as amendments proceeding years 1954 Internal Revenue Code of 1954 -2yrs work by House Ways and Means Committee result was comprehensive revision of the code including placement 1986 Tip the Sections of the 1986 and the 1954 code are generally the same http://0- intelliconnect.cch.com.catalog.fcsl.edu/scion/secure/ctx_cslguides_c harlottelaw_edu_content_php/index.jsp?cpid=WKUS-Legal- IC#page[1] 4. United States Code Internal Revenue Code contained in Title 26 10% of the volumes of the USC are about TAX Highest weight and authority http://www.charlottelaw.edu/commu nity/law-library 5. Joint Committee Blue Book Joint Committee on Taxation (JCT) Post enactment general explanations of the law Not legislative history Not controlling authority They are cited by courts with respect Good place for legislative intent that you do not gain from legislative history https://www.jct.gov/ 6. The Process HR originates tax bill Ways and Means Committee has subject jurisdiction over federal tax legislation Work on the bill- subcommittee of Ways and Means After markup it is reported out to the full House Pass- sent to Senate Referred to the Senate Finance Committee ( they can create their own version) After markup reported to full Senate Pass but material difference between the bill goes to a conference committee to reconcile the difference If both Chambers past the reconciled bill from committee sent to the president 7. Legislative History House, Senate and Conference reports have the most weight Blue Book? JCT offers assistance in the bill writing process ( great source for intent) Made up of members of both Ways and Means and the Finance Committee 8. Legislative History If the Code language is unclear no reg. or case to clarify USCCAN, Congressional Record, Statutes at Large Cumulative Bulletin http://encore.fcsl.edu/iii/encore_chasl/record/C__Rb247668__SCumulative %20Bulletin__P0%2C3__Orightresult__X5?lang=eng&suite=chasl Internal Revenue bulletin http://apps.irs.gov/app/picklist/list/internalRevenueBulletins.html CCH http://0- intelliconnect.cch.com.catalog.fcsl.edu/scion/secure/ctx_cslguides_charlott elaw_edu_content_php/index.jsp?cpid=WKUS-Legal-IC#page[1] RIA http://encore.fcsl.edu/iii/encore_chasl/record/C__Rb898903__SRIA__P0%2 C2__Orightresult__X5?lang=eng&suite=chasl Treatises 9. Regulations 2nd weight Treasury Department granted power via statute to interpret and administer the Code. IRS is a division of the Treasury Department and handle the daily operation. Administrative pronouncements interpret or enforce tax statutes Regulations, Revenue rulings, Revenue procedures, Letter ruling http://0- intelliconnect.cch.com.catalog.fcsl.edu/scion/secure/ctx_cslguides_charlottelaw_edu_content_p hp/index.jsp?cpid=WKUS-Legal-IC#page[2] http://www.legalbitstream.com/ TD issue two types of Reg. Legislative regulation Interpretive regulations (can be challenged) Issued proposed form, comment period, then issued final form Proposed regulation- no judicial deference Located in the CFR and FR http://www.irs.gov/Tax-Professionals/Tax-Code,-Regulations-and-Official-Guidance 10. Tax Cases Federal Judicial system (tax) 11. U.S. Tax Court Prior to 1943 called the Board of Tax Appeals Handles only tax cases Heard by a single Judge and opinion reviewed by Chief Judge Chief Judge can refer to full court review no Jury trial in Tax Court or U.S. Claims Taxpayers disputing tax liability do not pay before trial but if they lose they must pay interest Decisions of the tax court appealed to U.S. Court of Appeals Small cases division disputes $50,000 or less Taxpayer can pay and claim refund, if denied, they file suit in US District Court of U.S. Claims Court Decisions appealed to U.S. Court of Appeals 12. Judicial Opinions- 3rd weight Tax court issues three types of opinions http://ustaxcourt.gov/ Memorandum Decisions (large number) Situation is disputed not interpreting the code is not official reported Regular Decisions Dispute interpreting the Code or points never litigated Decisions of Small Cases Decision Summary opinions not officially reported or precedent http://www.legalbitstream.com/ 13. Opinions: Official - Unofficial Sources Official US Tax Court Opinions Reports of the United States Board of Tax Appeals Unofficial Tax Court Memorandum Decisions (CCH) Tax Court Reporter (CCH) US Tax Cases Advance Sheets (CCH) United States Tax Cases(CCH) American Federal Tax Reports (RIA) Tax Court Reported Decisions(RIA) Tip: cases designated Taxpayer v. Commissioner = Tax Court Taxpayer v. United States= District Court or Claims Court http://cslguides.charlottelaw.edu/content.php?pid=119534&sid=10 29601 14. Action on Decisions If IRS loses a case it issues a legal memorandum (Actions on Decisions) Print reporters, Cumulative Bulletin, Tax Court website, CCH and RIA Chart Cheat Sheet 15. IRS Guidance to the people Revenue Rulings- how IRS will treat a transaction applying the law to the facts Revenue Procedures public guidance on procedural rules Notices and Announcements guidance on matters IRS deem important 16. IRS Pamphlets/ Publications Internal Revenue Bulletin- weekly: rulings and procedures by IRS and other docs Cumulative Bulletin- issued twice a year Announcements, congressional committee reports, court opinions, delegation orders, executive orders, notices, proposed regulations, public laws, revenue procedures, revenue rulings and treasury decisions 17. Guidance from Office of Chief Counsel Private Letter Ruling- Issued upon request address how IRS would treat a particular transaction Determination letters- written statement applies tax law principles and precedents to set facts Information letter calls attention to well established principle of tax law Technical Advice Memorandum- advice provided on cases being examined but not litigated 18. Key Resources 19. Standard Federal Tax Reporter CCH print and online Code, legislative history, Treasury regulations , Judicial Opinions, Revenue Rulings, Revenue Procedures, CCH Explanations http://0- intelliconnect.cch.com.catalog.fcsl.edu/s cion/secure/ctx_cslguides_charlottelaw_ edu_content_php/index.jsp?cpid=WKUS -Legal-IC#page[2] 20. RIA United States Tax Reporter RIA Print and online Code, legislative history, Treasury regulations , Judicial Opinions, Revenue Rulings, Revenue Procedures, RIA Explanations https://a.next.westlaw.com/Browse/Home/SecondarySources /TaxSecondarySources/ResearchInstituteofAmericaRIA?transiti onType=Default&contextData=(sc.Default) 21. RIA Federal Tax Coordinator Organized by topic Income, gift , estate and excise tax Presents issues and analysis supported by code, reg. and opinions https://a.next.westlaw.com/Browse/Home /SecondarySources/TaxSecondarySources/ ResearchInstituteofAmericaRIA/FederalTax ationRIA/FederalTaxCoordinator2dRIA?tra nsitionType=Default&contextData=%28sc. Default%29 22. Bloomberg BNA Tax Management Portfolios Print and (Online fall2014) Three series U.S. Income Estate, gift and trust Foreign Income Broken down by topic in the series. Provide analysis, working papers - experts, bibliography and references http://encore.fcsl.edu/iii/encore_chasl/record/C_ _Rb490652__Stax%20portfolios__P0%2C1__Orig htresult__X2;jsessionid=963B0645CFF48A9B9770 596337EF2528?lang=eng&suite=chasl 23. Master Tax Guide CCH product published annually Code sections by topic Citations to CCH tax treatises for further information. Some case and IRS citations http://0- intelliconnect.cch.com.catalog.fcsl.edu/scion/secure/ctx_cslgu ides_charlottelaw_edu_content_php/index.jsp?cpid=WKUS- Legal-IC#page[2] 24. Treatises Topical Practitioner Guides Study aids 25. Current Awareness Law Reviews and Journals BNA daily tax report BNA electronic commerce and law report Tax analyst tax report (Tax Notes) (lexis) http://cslguides.charlottelaw.edu/content.php?pid= 571378&sid=4711610#17360557 Tax forums - Event IRS sponsors 6 each year Taxtalk Today- IRS host each month online for free How to handle a tax controversy at the restructured IRS and in court Annually (ALI ABA ) 26. Databases Westlaw Classic: Add a tab (July1) Next: Topic- Tax Lexis Advanced Bloomberglaw Practice Center Tax (CSL Fall 2014) Fastcase-Codes and Regs (NC Bar membership) Proquest- Legislative history, regulations and committee RIA resources through Westlaw CCH Tax Database Hein-Historical Websites IRS Website Joint Committee on Taxation LegalBitStream Tax Court Regulations.gov