#12 What is Authority When It Comes To Tax

 Understanding Authority Hierarchy in TaxDid you know the IRS isn't actually who makes tax laws? And IRS Publications aren't actual Authority? Let's find out who does and what is. From Congress-created laws in the Internal Revenue Code (IRC) to U.S. Treasury regulations, court case rulings, and IRS publications, she explains the hierarchy and reliability of these sources. She emphasizes the importance of basing tax positions on substantial authority rather than simplified IRS guidance or social media information. Tax professionals are urged to be thorough in their research and not dismiss clients' internet findings outright, as they often contain elements of truth. This episode serves as a guide for tax professionals to better understand and utilize authoritative tax sources. Introduction to Real Estate Taxing Exploring Facebook Tax Groups Understanding Tax Authority Levels Internal Revenue Code: The Holy Grail Treasury Regulations Explained Judicial Authority and Court Cases IRS Guidance and Its Limitations Practical Advice for Tax Professionals Conclusion and Final Thoughts