What Is the IRS Guideline for Determining Whether a Tax

question 23

Multiple Choice

What is the IRS guideline for determining whether a tax return position has substantial authority?

• A)A person knowledgeable in the tax law concludes that the position has a something less than 50% likelihood of being supported.
• B)A person knowledgeable in the tax law concludes that the position has at least a 50% likelihood of being supported.
• C)A person knowledgeable in the tax law concludes that the position has at least a two-thirds likelihood of being supported.
• D)A person knowledgeable in the tax law concludes that the position has at least a 75% likelihood of being supported.

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Definitions:

Determined Behavior

Behavior that is purposeful and focused on achieving specific goals.

Self-control

The ability to regulate one's emotions, thoughts, and behaviors in the face of temptations and impulses.

External Variables

Factors outside of an individual's immediate control that can impact outcomes or behaviors.

Human Nature

The inherent characteristics, including ways of thinking, feeling, and acting, that all humans tend to have naturally, irrespective of societal influence.