Taxation - IRS Letter Ruling Process

Which statement appearing below does not correctly describe the IRS letter ruling process? A. In certain situations, the IRS will not issue a ruling. B. Some letter rulings are of such importance and general interest that they are later published (in anonymous form) as Revenue Rulings. C. Letter rulings benefit both taxpayers and the IRS. D. Letter rulings are private and are not open to public inspection. E. None of the above is false I know that A and C are correct. However I can't find anything to back up B or D.

Tax Questions

An S corporation has a lesser degree of limited liability than a C corporation. True or False? A limited partner in a limited partnership has limited liability whereas a general partner in a limited partnership has unlimited liability. True or False?

Taxation - Apportionment

In most states, a taxpayer's income is apportioned on the basis of a formula measuring the extent of business contact, and allocated according to the location of property owned or used. True or False?

Taxation Question

What makes the disposition of an asset a “capital gain” or “capital loss” instead of an ordinary gain or loss? Why do you think the distinction was written into the tax code? Why the distinction between long and short term?

Response to question about practical inductive argument and fallacies.

A good, practical inductive argument is based on repeated, accurate observations. Taken to the extreme it might be what fallacy? Which one? Can this be avoided? How?