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Instructions
Provide complete written (typed) responses to the following:
1) List and discuss the primary parts of a tax research memo.
2) Discuss some of the key points that the tax researcher must consider with respect to evaluating court cases as part of a research project.
3) Discuss some of the key points that the tax researcher must consider with respect to evaluating administrative sources of law as part of a research project.
4) ARe CPAs required to communicate tax advice and the results of research projects to clients in writing?
5) Identify the major elements of a client letter and briefly discuss the difference between a letter to a sophisticated client and to an unsophisticated client.
6) You are preparing for an audit with an IRS agent for an important client. Your research has uncovered several favorable rulings and court decisions. What are the key points that should guide you in evaluating sources of law?
7) In a meeting with her tax adviser, a taxpayer indicated that she recently sold depreciable real property and would like her adviser to review the transaction and provide advice on the potential tax consequences. The taxpayer does not believe she should have a tax issue since the sales price is very close to the acquisition cost.
What factors should be considered in determining whether the advice should be oral or in writing? Regardless of the form of communication, what are some of the issues that should be explained to or discussed with the client?