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:

Pack Ice

A large area of floating ice that has been driven together by wind and currents.

Arctic Warming

The phenomenon of rising temperatures in the Arctic region, leading to melting ice caps, permafrost, and changes to ecosystems.

Methane

A potent greenhouse gas with a molecular structure of one carbon atom and four hydrogen atoms, contributing to Earth's warming.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration, contributing to the greenhouse effect.