#Techniques toresearch and support client base professional
Consequently, at this stage, a tax professional may also encounter the need to obtain additional facts from the client. However, after performing an initial search of the authorities to answer the initial issues, a tax professional often discovers that one or more additional specific technical questions of interpretations must be resolved before the initial issues can be fully addressed. For instance, an experienced tax professional based upon his or her prior knowledge of the tax laws, can normally determine most of the initial pertinent issues in terms of general tax laws.
Normally, complex tax issues evolve through several stages of development. The second step in the tax research process entails determining all the tax issues affecting your client’s specific facts and circumstances and any and all mitigating factors. Always be guided by the axiom that facts and circumstances appearing to be immaterial individually may, in fact, be material in the aggregate. At this initial stage, it is imperative not to omit nor overlook any of your client’s facts and circumstances whether appearing material or immaterial. The first step in the tax research process is to establish all the facts and circumstances provided by your client in order to determine which tax laws apply to your client’s fact pattern.
The subsequent comprehensive steps will guide you in establishing an all-inclusive tax research effort on behalf of your entire client base while properly ascertaining the likelihood of success should a tax position(s) taken on a tax return be challenged by the Internal Revenue Service (hereinafter the “Service”) upon examination. In order to properly optimize your accounting firm’s overall efficiency, efficiency, effectiveness, and productivity in connection to researching and resolving a tax issue and determining the sustainability of the tax return filing position per Circular 230, the appropriate tax research processes must be meticulously designed, implemented, and executed.
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