Who Needs Tax Rules And Regulations?
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Our tax system is based on extremely complex rules and regulations which govern how taxes must be reported and paid. The Administrative Procedure Act generally requires the Treasury Department to follow specific procedures designed to give the public notice and an opportunity to comment before certain kinds of rules and regulations are enacted.
Recent court decisions have invalidated IRS notices for failure to follow these procedures and have allowed taxpayers to seek injunctions against the IRS in limited situations.
We will discuss in detail what tax professionals need to know about:
- The impact on current audits and litigation
- The IRS’ authority to enforce existing rules and regulations
- The overall impact the Administrative Procedure Act can have on tax practices