Welcome
E&Y TRIP 2007
Introduction to
Taxation in the USA
E&Y TRIP 2007
Agenda for the Afternoon
Introduction and Background Role of “Big 4” Tax Staff Taxation in the USA Sources of Federal Tax Law Federal Tax Practice
Just in Case/FYI
Restrooms are down the hall; please feel free to get up and use them at any time!
E&Y TRIP 2007
Tax Practice in the “Big 4”
Audit/Management Services Clients Tax-only Clients Litigation Support Advocacy and Lobbying
E&Y TRIP 2007
Tax Systems in the USA
Federal/National Level E&Y_06-05-06PieChart.ppt
State Taxes Local Jurisdiction Taxation
E&Y TRIP 2007
Sources of Federal Tax Law
Statutory Law Administrative Interpretations
• Regulations• Rulings• Procedures
Judicial Decisions
The Legislative Path for Tax Law
House Ways and Means Committee
Full House
Senate Finance Committee
Full Senate
Joint Conference Committee
Senate/House Compromise bill
President vetoes bill
Tax law enacted
President signs bill
Veto override fails Veto override passes
Break Time!!!
E&Y TRIP 2007
Federal Tax Practice: Fundamentals
Ex post: Compliance Assignments Ex ante: Tax Planning Ethical Considerations
E&Y TRIP 2007
Federal Tax Practice: Working Procedures Practice Before the IRS AppealsProcess.ppt
Litigation Support TaxCaseLitigationProcess.ppt
Independence versus Advocacy
Is the Tax Law Complex?
E&Y TRIP 2007
Tax Research
Compliance Issues Planning Engagements Research Sources
E&Y TRIP 2007
IRS on the Web
Tax Almanac
Tax Analysts
Tax Foundation
E&Y TRIP 2007
Philadelphia
Pennsylvania
Illinois
California
New York
“The income tax law is a lot of
bunk. The government can’t collect legal taxes
from illegal money.”
Al Capone
Do you know this man?
SJU’s Signature
The Department
of Accounting
Have a GREAT Evening