Advance Determination Ruling - ADR

  

Categories: Tax

An official statement by the Internal Revenue Service (IRS) on how it interprets U.S. tax laws.

Sounds judicial.

It is.

These statements are mainly issued regarding tax-exempt status of organizations, yet frequently involve deductions and tax credits. If, say, a firm takes a tax credit, and the IRS states the tax credit has not been applied properly, the firm is subject to fines.

Who knew tax codes could be so controversial?

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Finance: What is the IRS?19 Views

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Finance allah shmoop What is the i r s Well

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i rest might be the three most hated letters in

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the alphabet Well after d m v a pms and

00:13

well maybe std The i r s is the internal

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revenue service Their internal i e inside the government they're

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in charge of collecting revenue A k a They take

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money from your pocket in the form of taxes and

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they deliver it to uncle sam and they you know

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service you and it doesn't feel good So yeah these

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are the guys from the us treasury department who checked

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to make sure you filled out your income tax forms

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correctly and submitted the proper amount And if you screwed

00:45

up in any way they will let you know about

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it and a half in the form of angry letters

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Phone calls knocks on your front door rocks through your

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back window Whatever it takes to get you to pay

00:54

your fair share of taxes Like why should you get

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away with not paying when the jones has paid all

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they owed Or the irs can do even worse and

01:04

audit you with an audit he irs will request extensive

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and very specific information and records from you Paycheck deductions

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all kinds of things You claim that you did that

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were deductible that may or may not have been forcing

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you to spend hours upon hours at your public storage

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unit digging through boxes you hoped and prayed you'd never

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see again Well after the third solid week of having

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your financial history poked and prodded like you've had to

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turn your head and cough you uh might actually be

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