In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.
What will be an ideal response?
The Tax Court, the U.S. Court of Federal Claims, or the U.S. district court for the taxpayer's jurisdiction is where tax-related litigation may begin. The taxpayer would be interested in the precedent, if any, existing within each jurisdiction. The taxpayer might prefer to avoid parting with cash to pay the proposed deficiency. If so, the taxpayer would want to litigate in the Tax Court. If the taxpayer would like to have a jury trial address questions of fact, he or she should opt for the U.S. district court.
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Do not capitalize the first letter of __________ nouns
a. common b. familiar c. uncommon d. formal
A taxpayer obtains permission to change an accounting method. The change will result in a positive adjustment to income. To help in managing its cash flow, the taxpayer would like to spread the change over multiple years. In order to take advantage of this opportunity, the net positive adjustment must exceed
A. $3,000. B. $25,000. C. $0. D. $10,000.
Ford Motor Company is considering launching a new line of hybrid diesel-electric SUVs. The heavy advertising expenses associated with the new SUV launch would generate operating losses of $35 million next year. Without the new SUV,
Ford expects to earn pre-tax income of $80 million from operations next year. Ford pays a 35% tax rate on its pre-tax income. The amount that Ford Motor Company owes in taxes next year without the launch of the new SUV is closest to ________. A) $28.0 million B) 12.3 million C) $40.3 million D) $15.8 million
An expert system is an excellent choice when well-structured numerical problems are involved
Indicate whether the statement is true or false