Question

In a closed-fact problem, the main goal of tax research is to: Group of answer choices Determine several alternative courses of future action for the taxpayer None of these are correct Find support for an action the taxpayer has already taken Determine several alternative courses of future action for the taxpayer and find support for an action the taxpayer has already taken

Answer 1

In a closed-fact problem, the main goal of tax research is to: find support for an action the taxpayer has already taken.

Explanation:

When filing a tax return, many people are medically supported. Strong tax research skills are even greater because of their complexity and application in tax law. The purpose of this chapter is to provide information and advice on tax compliance analysis as well as tax planning. In addition, the technique of tax analysis is quite similar to accounting and auditing.

The aim of tax research is to increase the profit or gains of the taxpayer. The aim is not to generate the minimum tax liability potential. Customers should determine the accuracy of tax returns or try to minimize possible IRS conflicts.

This difference of perspective — to optimize after-tax gains instead of reducing taxation — is particularly important when one considers that many tax planning techniques require such pre-tax income transfers, either in the form of additional expenditures, income avoidance or both.