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Published byShon Garrett Modified over 9 years ago
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Welcome
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Department of Accounting
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E&Y TRIP 2007 Introduction to Taxation in the USA
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E&Y TRIP 2007 Agenda for the Afternoon Introduction and Background Role of “Big 4” Tax Staff Taxation in the USA Sources of Federal Tax Law Federal Tax Practice
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Just in Case/FYI Restrooms are down the hall; please feel free to get up and use them at any time!
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E&Y TRIP 2007 Tax Practice in the “Big 4” Audit/Management Services Clients Tax-only Clients Litigation Support Advocacy and Lobbying
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E&Y TRIP 2007 Tax Systems in the USA Federal/National Level E&Y_06-05-06PieChart.pptE&Y_06-05-06PieChart.ppt State Taxes Local Jurisdiction Taxation
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The Federal Government Dollar: Where It Comes From Excise, Customs, Estate, Gift, and Miscellaneous Taxes 7% Personal Income Taxes 43% Social Security, Medicare, and Unemployment and other Retirement Taxes 35% Corporate Income Taxes 7% Borrowing to Cover Deficit 8%
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E&Y TRIP 2007 Sources of Federal Tax Law Statutory Law Administrative Interpretations Regulations Rulings Procedures Judicial Decisions
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The Legislative Path for Tax Law House Ways and Means Committee Full House Senate Finance Committee Full Senate Joint Conference Committee Senate/House Compromise bill President vetoes bill Tax law enacted President signs bill Veto override fails Veto override passes
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Break Time!!!
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E&Y TRIP 2007 Federal Tax Practice: Fundamentals Ex post: Compliance Assignments Ex ante: Tax Planning Ethical Considerations
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E&Y TRIP 2007 Federal Tax Practice: Working Procedures Practice Before the IRS AppealsProcess.ppt AppealsProcess.ppt Litigation Support TaxCaseLitigationProcess.ppt TaxCaseLitigationProcess.ppt Independence versus Advocacy
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Is the Tax Law Complex?
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E&Y TRIP 2007 Tax Research Compliance Issues Planning Engagements Research Sources
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E&Y TRIP 2007 IRS on the Web Tax Almanac Tax Analysts Tax Foundation
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E&Y TRIP 2007 Philadelphia Pennsylvania Illinois California New York
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“The income tax law is a lot of bunk. The government can’t collect legal taxes from illegal money.” Al Capone Do you know this man?
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SJU’s Signature The Department of Accounting
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H ave a GREAT Evening
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