Question

What is a “Blue Book” and list one reason a tax practitioner might want to consult one.

Answer 1

Solution:

A blue book or bluebook is an almanac, buyer's guide or other compilation of statistics and information. The term dates back to the 15th century, when large blue velvet-covered books were used for record-keeping by the Parliament of England. The Oxford English Dictionary first records such a usage in 1633.The term has a variety of other meanings.

Tax Blue Book

The General Explanation of the Tax laws and job laws (commonly referred to as the “Blue Book”) provides a detailed explanation of the Tax Cuts and Jobs Act.

Tax practioners generally consult to blue book because of typical case studies and to consult the tax benefits to their customers or clients.