Textbook Problems Team A
I: 15-61 Tax Strategy Problem
If HPU wants to file a law suit against the IRS about the payment for 150,000, they should file in either the U.S. District Court or the U.S. Court of Federal Claims. However, they need to capitalize the amount, pay the taxes due, and then receive a refund if they win the case. If they lose, they can pay any interest and penalties that may be due. The tax court allows for appeals, has judges that specialize in tax related issues, and is also not bound by previous decisions in the other court. The District Court will be involved only in the District that HPU is located and this court must follow any previous decisions made by U.S. Supreme Court. The federal court also follows upper court decisions in its...
Excerpt from file: TextbookProblemsTeamA ACC497 I:1561TaxStrategyProblem IfHPUwantstofilealawsuitagainsttheIRSaboutthepaymentfor150,000,theyshouldfile ineithertheU.S.DistrictCourtortheU.S.CourtofFederalClaims.However,theyneedto capitalizetheamount,paythetaxesdue,andthenreceivearefundiftheywinthecase.Ifthey...
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