Question

In: Accounting

Name three advantages of taking a tax dispute with the IRS to the U.S. Tax Court...

Name three advantages of taking a tax dispute with the IRS to the U.S. Tax Court instead of another federal court.

Solutions

Expert Solution

The three advantages of taking a tax dispute with the IRS to the U.S. Tax Court instead of another federal court:

  1. Early Settlement of cases - It is assumed that the tax payers who opts for the Tax court routes are more intrested in settlement of their cases and reducing or elimination of their tax dues within legal limitations, thus the cases in tax courts are settled even before going for a hearing. This enables quick settlements to taxpayers.
  2. No requirement of hiring a Lawyer - The US Tax court does not require a lawyer to present the case in front of court, even the appeals procedures are waived off in certain cases which makes the taxpayers an easy and money saving option to opt for.
  3. No requirement to pay tax assessed before going to a court - Unlike Federal courts, while applying to the tax court the tax payer is not required to pay the tax dues for admitting the case in the courts. This helps the tax payers plan their assessment payments.

Related Solutions

Discuss three types of cases heard by the U.S. tax court. Explain how the appeals process...
Discuss three types of cases heard by the U.S. tax court. Explain how the appeals process works.
Alternative Dispute Resolution (ADR)- Defined as Settling out of court, resolution of a dispute through negotiation,...
Alternative Dispute Resolution (ADR)- Defined as Settling out of court, resolution of a dispute through negotiation, mediation, arbitration. 2 You have all seen the Popular TV court shows, like Judge Judy, in these shows, are the parties (plaintiff and defendant) in actual court and having a regular court proceeding? (a) Yes or no? Explain (b) Why would anyone agree to go on TV to resolve the dispute and what is the benefit of going on the show when many might...
What are the advantages and disadvantages of choosing the Tax Court to litigate your case against...
What are the advantages and disadvantages of choosing the Tax Court to litigate your case against the IRS?
Discuss Tax Compliance, the IRS, and the concept of Tax Authorities. Additionally, discuss filing requirements, IRS...
Discuss Tax Compliance, the IRS, and the concept of Tax Authorities. Additionally, discuss filing requirements, IRS audits, the federal court system that adjudicates federal tax law, and the Internal Revenue Code.
Three taxes: Sales Tax, Property Tax, and Income Tax. Name three types of taxes and analyze...
Three taxes: Sales Tax, Property Tax, and Income Tax. Name three types of taxes and analyze the deadweight loss of each. Which of these taxes do you believe create the highest deadweight loss? Why? Why is deadweight loss disagreed on by experts? Explain.
How is the structure of the IRS tax code used in tax planning?
How is the structure of the IRS tax code used in tax planning?
Name three Constitutional issues that The Supreme Court has ruled on in the 21st century. Choose...
Name three Constitutional issues that The Supreme Court has ruled on in the 21st century. Choose the issue that you think is most important and relevant to legal psychology.
What are two methods of conducting business in the U.S. Compare the tax advantages and disadvantages....
What are two methods of conducting business in the U.S. Compare the tax advantages and disadvantages. Provide examples to support the advantages and disadvantages identified.
1. Describe the process of taking an IRS Spectrum both on mechanically level and on a...
1. Describe the process of taking an IRS Spectrum both on mechanically level and on a molecular level, what is being analyzed and why it happens. (You may answer in paragraph or flow chart format.) 2. Draw a mechanism for the dehydration of 4-methyl cyclohexanol using sulfuric acid 3.Explain why volatile solvents are often used to prepare mass spectroscopy samples and why in the GC/MS analysis the first few minutes are not analyzed. 4. Give a brief summary as to...
The Constitution appears to grant us our day in court dispute criminal charges or pursue civil...
The Constitution appears to grant us our day in court dispute criminal charges or pursue civil litigation if we are wronged. In theory our founding fathers were trying to give equal access to the judicial system to all but in some respects it has turned our judicial system into a quagmire. Sometimes it may take up to ten years to get a civil trial date in Federal District Court and by the time appeals are heard it is possible that...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT