Tax Services

Tx 8030

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 Compilationor 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 ofBroad 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 of Tax Services

• Annotated Tax Services– Code– Committee reports– Regulations– Editorial explanation– Annotations

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