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September 5

The document discusses tax administration in the United States including the Internal Revenue Service audit process, revenue agent reports, settlement procedures, statutes of limitations, refunds, interest and penalties, and tax practice standards. It also covers understanding federal tax law and the various economic, social, political, and legal factors that influence tax policy.

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Su Ed
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37 views4 pages

September 5

The document discusses tax administration in the United States including the Internal Revenue Service audit process, revenue agent reports, settlement procedures, statutes of limitations, refunds, interest and penalties, and tax practice standards. It also covers understanding federal tax law and the various economic, social, political, and legal factors that influence tax policy.

Uploaded by

Su Ed
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

2.

September 5

1
• Checkpoint?
• Tax administration (1-5)
• Internal Revenue Service (1-5a)
• The Audit Process (1-5b)
• Information matching
• Correspondence audit
• Office audit
• Field audit
• Revenue Agent’s Report (Pg. 1-23)
• Settlement procedures (pg. 1-23)
• The Independent Office of Appeals  resolves disputes based on the hazards of litigation
• Statute of Limitations (1-5c)
• Assessment by the IRS
• Refunds (Pg. 1-24)
• Interest and Penalties (1-5d)
• Interest
• Failure to file a tax return by the due date
• Failure to pay the tax shown on the return
• Negligence penalty
• Other penalties
• Tax Practice (1-5e)
• Ethical standards

2
• Understanding the Federal Tax Law (1-6)
• Revenue needs, economic considerations, social considerations, equity considerations
(wherewithal to pay concept), political considerations, influence of the IRS, influence
of the courts, etc.
 see summary (1-6h)

3
In-class team assignment:
• Pg. 1-39 questions:
• 39 (a, b, c, d)
• 40
• 41 (a, b)

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