Describe the components of the common body of tax law

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Reference no: EM132019803

Questions -

1. Explain the assignment of income doctrine (AID) and the fruit of the tree doctrine. What role does the AID play in our federal income tax system, and what could be done to avoid or reduce income taxes if the AID did not exist?

2. Complete the following requirements:

• Describe the components of the common body of tax law (CBOTL).

• What role does the U.S. Congress play in creating the tax law? Briefly explain how a tax bill becomes a tax law.

• What role does the Internal Revenue Service play in interpreting, and providing guidance on, the tax law? What types of tax law guidance are published by the IRS?

Reference no: EM132019803

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