Research and cite the appropriate irc section

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Question: 1) Kim just joined a local CPA firm. She needs to create a tax memorandum explaining the different sources of tax law and where their authority comes from. Research and cite the appropriate IRC section that authorizes the treasury secretary to provide administrative interpretations of the tax law.

2) Kim is preparing the tax return for her client, Mr. Rodgruize, one of his tax documents presented is Form 1099-C, cancellation of Debt. Because of the weak economy, he struggled to make ends meet. Instead of filing for bankruptcy, he was able to negotiate with his creditors and reduce his debt by $ 30,000. Research and cite the appropriate IRC section that explains how Form 1099-C should be reported on the tax return.

Reference no: EM131882977

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