#12 What is Authority When It Comes To Tax
Real Estate Is Taxing · Natalie Kolodij, EA
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Show Notes
Understanding Authority Hierarchy in Tax
Did you know the IRS isn't actually who makes tax laws? And IRS Publications aren't actual Authority? Let's find out who does and what is.
From Congress-created laws in the Internal Revenue Code (IRC) to U.S. Treasury regulations, court case rulings, and IRS publications, she explains the hierarchy and reliability of these sources. She emphasizes the importance of basing tax positions on substantial authority rather than simplified IRS guidance or social media information. Tax professionals are urged to be thorough in their research and not dismiss clients' internet findings outright, as they often contain elements of truth. This episode serves as a guide for tax professionals to better understand and utilize authoritative tax sources.
Introduction to Real Estate Taxing
Exploring Facebook Tax Groups
Understanding Tax Authority Levels
Internal Revenue Code: The Holy Grail
Treasury Regulations Explained
Judicial Authority and Court Cases
IRS Guidance and Its Limitations
Practical Advice for Tax Professionals
Conclusion and Final Thoughts