Question

Why is a thorough knowledge of sources of tax law so important for a professional person who works in the tax​ area?

A.

Due to the vast volume of tax law​ sources, it is impossible for any person to have recall knowledge of the tax law.​ Thus, the ability to understand what the relevant sources of tax law​ are, their relative​ importance, and where to find the sources are vital to a person working in the tax area.

B.

There are very few sources of tax law. It is important for a professional person working in the tax area to understand these sources because a knowledge of sources of tax law is required by most state CPA licensing boards.

C.

There are very few sources of tax law. It is important for a professional person working in the tax area to understand these sources because a knowledge of sources of tax law is required to practice before the IRS.

D.

Both B​ & C are correct.

Answer 1

ANS

A.

Due to the vast volume of tax law​ sources, it is impossible for any person to have recall knowledge of the tax law.​ Thus, the ability to understand what the relevant sources of tax law​ are, their relative​ importance, and where to find the sources are vital to a person working in the tax area.

The sources of tax laws are very large and the major point for a professional us to undertand that from where he/she can occupy the relevant data as per his or her requirement.