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o The legislative branch, Congress, writes the Internal wage Code (Irc), or tax code, for short. Each part, called a Section, has its own number, like Irc § 179.
o The executive branch, specifically the Treasury Department, of which the Internal wage assistance is a part, publishes interpretations of many tax code provisions. These writings show how the Irs applies the tax code in dissimilar situations.
o The judicial branch, the federal courts, interprets the tax code in light of the Constitution and what it divines as Congress's intent. When the Irs applies the tax code contrary to the Constitution or differently than Congress intended, it may be overruled by the federal courts. These court decisions are published ("reported") and serve to guide taxpayers on how to construe the tax code.
This discusses where to find the pronouncements of the government, Irs publications, underground tax guides, textbooks, websites, court decisions, and periodicals. Some are free, and most others are reasonably priced. Tax publications for professionals are expensive, but are often ready at communal or law libraries.
Irs Small enterprise Website
There is an Irs small enterprise society website to sustain the nation's 45 million enterprise and self-employed taxpayers. This free site provides:
o answers to basic tax questions and a calendar of tax deadlines
o online way to most Irs forms
o industry-specific tax info for specific industries like construction and food service
o tips to avoid common tax problems
o links to court opinions and to rulings and regulations on specific industries
o links to non-Irs sites for general tax information, and
o links to helpful small enterprise resources.
Go to the Irs home page. Click on "Business" and then "Small enterprise and Self-Employed." Don't expect the Irs to tell you how to sacrifice your tax bill at this site.
Irs Online Publications
The Irs publishes over 350 free booklets explaining the tax code. But where there is a gray area in the law, you can bet you'll get only the Irs's interpretation-even if federal courts have made contrary rulings.
These Irs Publications ("Pubs," for short), range from any pages to any ¬hundred pages in length. Get them at Irs offices, download them online, call 800-829-Form (3676), or send in an order form. There is no charge, not even for postage.
Every small enterprise person should order a container of Irs forms and publications called Your enterprise Tax Kit. The kit includes Forms Ss-4, Application for manager Identification Number, and 1040-Es, Estimated Tax for Individuals.
o Pub 334, Tax Guide for Small enterprise (at 325 pages, the largest booklet)
o Pub 583, Taxpayers beginning a enterprise
o Pub 910, Guide to Free Tax Services
o Pub 1057, Small enterprise Tax instruction agenda Brochure
o Pub 1544, Reporting Cash Payments of Over ,000, and
o Pub 1779, employee or Independent Contractor.
You can get all Irs publications, plus 600 forms, Irs Regulations, and back-year tax forms (to 1991) on Cd-Rom Publication 1796. Call this toll-free estimate to order: 877-233-6767, or order online (search for Publication 1796). There is a charge.
All you may need, however, is a free online download called the Small enterprise reserved supply Guide, Publication 3207, which contains:
o information on small enterprise topics from discrete regulatory agencies
o business tax forms, instructions, and publications
o valuable insight on a wide range of topics, from making ready a enterprise plan to holding records of financing and resignation plans
o informative tutorials, updates, and a multi-agency electronic newsletter.
Go to the Irs website (go to irs dot gov, "Business" and then "Small enterprise and Self-Employed") .
Tip
The Irs's free publications run the gamut from good to bad to plain ugly. While some are clearly written and useful, others are misleading, and a few are in an unknown language. I am always amused to see Irs publications with disclaimers warning you against relying on them. The Irs is not legally bound to consequent its own writings that construe the tax law. Amazing, isn't it?
Free Irs and communal protection Telephone/Information
You may talk to a live Irs taxpayer assistance representative at 800-829-4933 (business tax line). It can be hard to get straight through from January to May. Avoid calling on Mondays or while lunchtime.
The communal protection administration (Ssa) also has an 800 number: 800-772-1213. It is staffed 7 a.m. To 7/p.m., and has prerecorded business-related topics ready 24 hours a day. Among other info ready from the Ssa, you or an employee of your enterprise can get a statement of earnings, Form W-2, and Form 1099 wage data for past years, an estimation of benefits, and new or exchange communal protection cards.
Caution
Be alert for bad Irs telephone advice. The Irs is notorious for giving misleading or outright wrong -answers on the phone. Irs folks just aren't trained to reply more than very easy tax questions. In the Irs's defense, often taxpayers don't know how to ask the right questions, or in effect understand the answers given. Our overly complex tax code is as much to blame as the Irs. Unfortunately, the Irs does not stand behind incorrect oral advice. If you rely on what person at the Irs tells you and it is wrong, you'll be liable for any resulting tax plus interest and penalties. If it's important, duplicate check what the Irs tells you with a tax pro.
Free Irs Programs
In larger metropolitan areas, the Irs offers small enterprise seminars on discrete topics, such as payroll tax reporting. You can ask questions at these programs, given at schools and federal buildings. Call the Irs at 800-829-1040 to see if programs are offered near you and to get on the Irs small enterprise mailing list.
Irs Written Advice
The Irs is only bound by formal guidance to tax¬payers called Irs Letter Rulings. If you want one, you'll have to pay a fee of 0 to ,000 or more to the Irs; expect to wait many months for your answer.
For issues where the law isn't clear, a best (and far cheaper) bet is to look up letter rulings issued to other taxpayers with a similar question-if you can find one. Letter rulings are published in the Internal wage Cumulative Bulletin, and in underground tax assistance publications found in larger communal and law libraries.
Be warned: It is not easy to find letter rulings on point, even for a tax pro. If you want to try, you should know how these rulings are identified and indexed. For example, "Ltr. Rul. 892012" refers to a ruling issued in 1989, in the 20th week, and which was the 12th letter ruling issued that week. My recommendation is that you hire a tax pro to do this for you.
Internal wage Code
The Internal wage Code (Irc) is written by Congress and is nicknamed the code or the tax code. It's a thick book with tiny print and is found in the reference section of most libraries, the Irs website, Irs offices, tax pros' offices, and larger bookstores. The Irc is revised annually, mostly minor changes by Congress. More significant revisions to the tax code are made every three to four years.
The Irc is found in Title 26 of the United States Code (U.S.C. For short). The U.S.C. Encompasses all of our federal laws. Title naturally refers to the place within the massive U.S.C. Where the Irc is found.
Example: "Irc/179(b)(4)(A)" means that this singular tax law is found in Title 26 of the U.S.C., the Internal wage Code, Section 179, subsection b, paragraph 4, subparagraph/A.
The Irc is divided up into sections, which, in turn, are subdivided into more parts, ad infinitum. The tax code is a crazy quilt of laws that apply to everyone along with provisions just for left-handed sheep breeders in New Jersey.
The Irc is ready online at the Irs website.
Irs Interpretations of the Tax Code
Congress, when enacting a broadly applicable tax law, can't foresee all possible situations. So the Treasury group (the Irs is a part of it) is authorized to issue interpretations of broad tax code provisions. The customary Irs interpretations are called Regulations, wage Rulings, Letter Rulings, wage Procedures, Announcements, Notices, the Internal wage Manual, and Irs forms and instructions.
Regulations
The most authoritative Irs interpretations are called Treasury Regulations or just Regulations or Regs. Regulations supply the mechanics of how many (but not all) tax code provisions apply. Regulations often contain examples, like the ones in this book. They are commonly bound in a four- to six-volume set and are found in most larger libraries and some bookstores. Regulations are on the Irs website . Regulations are easier to read than the tax code on which they are based.
Start with the Irc section number. Then check to see if there is a corresponding regulation. It will bear the same number, commonly preceded by the numeral "1." You can do this online at www.irs.gov
Example: "Reg. 1.179" refers to a Treasury regulation interpreting Irc Section 179.
Other Irs pronouncements
The Irs publishes discrete statements of its position on discrete tax matters. These pronouncements guide Irs personnel and taxpayers as to how specific tax laws will be applied by the Irs.
Irs wage Rulings (Rev. Rul.) are Irs announcements of how the tax law applies to a hypothetical set of facts.
Tax book publishers Prentice-Hall, manufactures Clearing House, and study originate of America reprint all Irs wage Rulings. Some, but not all, of the Irs wage Rulings are on the Irs website. They are indexed by Irc section and field matter. A wage Ruling commonly contains a factual example, followed by an explanation of how the tax code applies to those facts. While finding for a wage Ruling might pay off, it is not always easy to find one that in effect covers your situation.
Example: "Rev. Rul. 92-41" refers to Irs ¬Revenue Ruling estimate 41, issued in 1992.
Irs Letter Rulings are Irs answers to specific written questions about more complex tax situations posed by taxpayers. See "Irs Written Advice," above.
Irs wage Procedures (Rev. Procs.) are another way the Irs tells taxpayers exactly how to comply with sure tax code provisions. Rev. Procs. Are primarily relied on by tax return preparers. They often construe when and how to narrative tax items, such as claiming a net operating loss on a tax return. They are contained in the weekly Internal wage Cumulative Bulletin, found in larger communal and law libraries, and also are reprinted by the tax book publishers mentioned above and on the Irs website
Example: "Rev. Proc. 91-15" refers to a published wage policy estimate 15, issued in 1991.Irs announcements and notices. Periodically, the Irs gives general guidance and statements of policy in lawful announcements and notices similar to press releases. They appear in the weekly Internal wage Cumulative Bulletin, which is published at the Irs website. Seldom does it pay to quest Irs announcements or notices, as they weren't intended to reply specific questions.
The Internal wage manual (Irm) is a series of handbooks for Irs employees on tax law. This is one of my popular free resources. The Irm tells its auditors and collectors how specific tax code provisions should be enforced. The manual is for Irs internal use, but most of it is communal and ¬reprinted by underground tax book publishers. It is ready to the communal in larger Irs offices and in law libraries and some tax pros' offices. Portions of the Irm are also on the Irs website.
The Irm is revealing of Irs positions-for example, the criteria the Irs uses to determine either cheap cause exists for cancelling a tax penalty.
Irs forms and instructions are well known to us all, beginning with Form 1040, the each year personal wage tax return. More than 650 other forms are listed in Publication 676, Catalog of Federal Tax Forms. They are free at Irs offices or by calling 800-829-Form or 800-829-1040 or at the Irs website . Many Irs forms come with instructions and explanations of the tax law. always read the instructions before attempting to fill in an Irs form.
Court Cases
Federal courts have interpreted the tax law in thousands of court cases. Tax court decisions are found in the Tax Court Reports. Also, U.S. District Courts, U.S. Courts of Appeal, Court of Federal Claims, U.S. Bankruptcy Courts, and the consummate Court all rule on tax issues. These court decisions construe tax code sections. Chances are that at least one of these courts has adjudged the point you are interested in; the trick is finding it.
Tip
Advice on research. The key to tax research, either on the Internet or in a law library, is to start with the estimate of an Irc section, or a court case name, or a general topic, such as depreciation.
The Small enterprise administration (Sba) puts out some good publications.
Personal counseling from the Sba is offered by the assistance Corps of Retired Executives (Score) program. These folks are not necessarily tax experts, but if they were in business, they know the tax game. Call the Sba at 800-827-5722 or visit the Sba office nearest you. The Sba also has a very helpful website. Or write to the Sba at 1441 L Street, Nw, Washington, Dc 20461.
Small enterprise development Centers (Sbdcs) are cosponsored by the Sba and state governments. They are commonly affiliated with state universities and supply free or low-cost seminars and counseling to small enterprise owners. To search an Sbdc near you, call the Sba at 800-827-5722.
Other federal agencies offer publications-either free or at cheap prices-to sustain small businesses. Pa 15250-7954.
Trade association Publications
Every enterprise or trade has specialized publications and newsletters that track tax issues in your manufactures that your tax pro might not know of-perhaps a new case or Irs ruling. Also, speakers on tax topics are often found at conventions and trade shows.
Tax Info Online
There has been an explosion of tax data on the Internet. Surprisingly, the Irs itself has a good website, but it is undoubtedly not the "last word" in tax research.
Start your Internet quest with the Irs home page. You can download over 600 Irs forms and publications and contemplate summaries of 150 tax topics. Email easy tax questions to the Irs (but remember what I have said about taking tax guidance from the Irs with a block of salt).
Internet assistance providers give you way to quest engines like Yahoo! and Google to find tax data from sources, along with the National association of Enrolled Agents and TurboTax. Some sites allow you to post tax questions to experts and receive answers, either for free or a relatively small charge.
Keep in mind the person giving the reply doesn't in effect know you and your tax needs. The right tax reply is commonly the one tailored to your personel situation-and for that you need the personal touch of meeting with a tax pro.
To go still deeper into cyberspace, use one of the popular quest engines such as Google or Yahoo! Be prepared for thousands of listings to pop up. There is a lot of tax nonsense on the chaotic World Wide Web. Population can express their views or promote harebrained "untax yourself" schemes. So, watch out. In the tax universe, as elsewhere, if it sounds too good to be true ... You know the rest.
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