Research Tools

[erchess]

Where do people turn when they want to research grey areas or areas not covered in TTB?
One person here makes use of free sources but I am afraid I would overlook things if I relied on more than one source. I am also concerned that I would fall for unreliable sources. I am looking mainly at the Kleinrock and RIA libraries. I am frustrated by the fact that after an hour on the RIA website I still did not know what its products cost.

On a related topic, what are most interactions with taxing agencies about - the facts of the taxpayer's situation, tax theory, or both? I have actually had only three incidents that hinged on tax theory. In all three prevailed on the phone by getting the IRS employee to read from an IRS publication that was on her computer. The employees had held up my clients' EIC because the clients had each rolled a substantial amount of money from a retirement plan into an IRA. I don't know what the rules are now but at that time the IRS publication on EIC stated plainly that Rollovers were not Investment Income for EIC purposes.

[Roland Slugg]

Research materials

Dear erchess

For quick topic information one (or more) of the annual tax deskbooks is a necessity, such as CCH's "Master Tax Guide," Kleinrock's "Total Tax Guide," RIA's "Federal Tax Handbook," or "TTB" published by the sponsors of this very forum. I happen to like RIA's book the best and Kleinrock's the least ... its indexing is terrible. I've never seen TTB but may get one for next year.

For tax research the absolute minimum, IMO, is up-to-date access to: The Internal Revenue Code, the Regulations, and the Revenue Rulings. To stay current will require a subscription of some kind that furnishes updated CDs on a regular basis. For research on a specific subject nothing comes close to BNA's Tax Portfolios ... but they are pricey.

Be careful of free services accessed via the internet, as many are not current ... often two or three years out of date. The best "freebies" I know about are the IRS's own Publications, most of which are updated each year and are available from the IRS's main web site.

I would never call the IRS (or a state's equivalent) to ask a tax question. When you do that, who do you think you are talking to?

Here's hoping this information is helpful.

[veritas]

I like Kleinrocks

Their weekly bulletin is worth alot in itself. Plus I can access the tax library online.

I have had Prentice Hall and CCH in the past and found their weekly updates of little practical use.

[sea-tax]

Like Veritas I like Klienrock.I have used it for years and while it takes a little getting used to it does provide good info.
I also like the Tax Book for quick answers it is tops.
Also this web board and intuits tax almanac, are two source of information that I find valuable.
I mean on this board alone there has to be decades worth of knowledge and expierence.
Thanks to all for the advice past and future.