What Are Tax Services? _________ sources that assist researchers to efficiently locate _________ sources. Locating tax authority is the ___ step in the process of conducting tax research.
Variety of Tax Services Broad __________ –CCH’s Standard Federal Tax Reporter –RIA’s United States Tax Reporter Broad ________ –RIA’s Federal Tax Coordinator 2d –BNA’s Tax Management –West’s Mertens Law of Federal Income Taxation
Variety of Tax Services (continued) Specialized –Estate and gift –International –Inventories –Passive activities –Divorce –S corporations –Insurance companies
Using Tax Services: Four Steps Enter Compilation or Treatise Read Relevant Materials Check for New Developments Shepardize
Step 1: Enter Compilation or Treatise Key Word Topical Spine Scan Case or Ruling Code Section
Key Word Method (Step 1) If electronically searching text, think about the _______ ______ used. If using a key word index, think like the editors…start with _________ _________. Electronic Searches Index Searches Golden parachute Vesting requirements Subdivided real estate Prizes and awards Mid-quarter convention
Spine Scan Method (Step 1) Few words appear on spine Provides general, not ______, reference –Scan spine to find volume –Within volume, find tab card –Search table of contents behind tab card Use when key word method fails Analogous to using ______ of __________ when searching electronic databases
Case or Ruling Method (Step 1) Must start with case or ruling Available with most tax services Electronic databases provide a _________ for these searches –Case title –Citation (an approach _____ _____ tax services often do not permit)
Code Section Method (Step 1) If _________ service, check spine. If ________ service, use Code index. Electronic databases provide ___________. This method is very efficient, but it does not pinpoint specific cases and rulings. Learn _____ _________!
Step 2: Read Relevant Materials Annotated services are _______________ that pull together various __________ sources and provide limited ______________. –Code –Committee reports –Regulations –Editorial explanation –____________
Step 2: Read Relevant Materials Topical services are _________ that provide more interpretation and __________ than annotated services. –Editorial explanations –Footnotes reference _________ sources
Step 3: New Developments Annotated Tax Services –New ¶ numbers lead to: New matters or recent developments volume ___________ sheet volume Topical Tax Services –RIA: Uses “evergreen” system –BNA: ____ pages –Mertens: Pastel sheets in front of volume Electronic databases automatically updated
Step 4: Shepardize Do not use the ____ citator. ____ citator is excellent. –Hard copy on 1st floor of Pullen –RIA CheckPoint –LEXIS
Comparison and Contrast of Broad Tax Services Scope Organization Special Features
Scope of Broad Tax Services Most cover federal: –Income taxes –Estate taxes –Gift taxes ____ covers foreign taxation also. ________ only covers federal income tax.
Organization (continued) RIA’s Federal Tax Coordinator 2d –Index volumes Topic index Code and regulation finding tables Case and ruling finding tables –__________ –Proposed regulations –Current IRBs –Newsletter
Organization (continued) BNA’s Tax Management –Portfolio index –Portfolio series U.S. income taxes Estate, gift, and trusts _________ income taxes –Each portfolio contains: ___________ sheet Table of contents __________ analysis _________ papers Bibliography and references
Organization (continued) Mertens Law of Federal Income Taxation –Index volumes –Code volumes –Code ___________ volumes –Regulation volumes –Ruling volumes –__________ volumes
Special Features of Tax Services Most have newsletters Most have CD-ROM and/or ____ versions RIA’s Federal Tax Coordinator 2d –White ______ in black _______ –___________ aids –Claims to be “product of professional research, not a ___________ of source materials”
Special Features (continued) BNA’s Tax Management –Provides IRS _____ and ____ index, but not a ______ and ________ index –“____ ___” portfolios that experts prepare –Easy to throw in __________ –Caution: Portfolios leave ____ –Legal articles in three separate journals: Tax Management Memorandum Estates, Gifts, and Trusts Journal Tax Management International Journal
Special Features (continued) Mertens Law of Federal Income Taxation –Covers only _______ tax law –Designed by attorneys for attorneys (i.e., extensive ___________ discussions) –Only tax service _______ frequently in court –Only hard copy tax service providing _____ _____ of Revenue Rulings and Procedures