Tax law provisions tend to change over time. Explain how this might affect tax research and planning and provide an example of when this has happened.
Tax laws provisions tend to change over time or on yearly basis whereas Research and planning project may encompass several tax years. Any fact or law changes that occur during the period might affect the research project that’s why the researcher should always be updated with the change. The pertinent facts or laws may be subject to changes that will cause the researcher to arrive at different conclusions and recommendations, depending on the tax year involved. For example Changes in Tax provisions might affect economic growth, positive or negative impact on future, increase or reduced marginal tax rates may impact personal savings and investments.
Get Answers For Free
Most questions answered within 1 hours.