INTERNAL REVENUE CODE

Federal tax law begins with the Internal Revenue Code (IRC), enacted by Congress in Title 26 of the United States Code (26 U.S.C.).
The Internal Revenue Code (or IRC; more formally, the Internal Revenue Code of 1986, as amended) is the main body of domestic statutory tax law of the United States organized topically, including laws covering the income tax (see Income tax in the United States), payroll taxes, gift taxes, estate taxes and statutory excise taxes. The Internal Revenue Code is published as Title 26 of the United States Code (USC), and is also known as the internal revenue title. Its governing authority is the Internal Revenue Service.

  • Subtitle A—Income Taxes
  • Subtitle B—Estate and Gift Taxes
  • Subtitle C—Employment Taxes
  • Subtitle D—Miscellaneous Excise Taxes
  • Subtitle E—Alcohol, Tobacco, and Certain Other Excise Taxes
  • Subtitle F—Procedure and Administration
  • Subtitle G—The Joint Committee on Taxation
  • Subtitle H—Financing of Presidential Election Campaigns
  • Subtitle I—Trust Fund Code
  • Subtitle J—Coal Industry Health Benefits
  • Subtitle K—Group Health Plan Requirements

  • Source :
    http://www.law.cornell.edu/uscode/html/uscode26/usc_sup_01_26.html
    http://en.wikipedia.org/wiki/Internal_Revenue_Code
    http://www.irs.gov/taxpros/article/0,,id=98137,00.html#irc

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    Balancing Wants and needs




    The journey of any exam never ends with out encountering battles, to fight and win. It is never easy to win this battle. Though the desire to become the CPA is a want, it becomes a need, once we start preparing for an exam. And then the battle of our petty wants and the needs start.
    Sometimes we sit to watch TV or visit friends home, we cannot be sure when we are going to be back on track. From my experience I understand that till we become a qualified CPA we must always remind ourselves that our time is precious at this point of time and we are investing our time to reap our returns later.
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    Entertainment to rejuvenate is the motto.
    Best Wishes

    Ethics and professional and legal responsibilities

    A. Code of Professional Conduct
    B. Proficiency, independence, and due care
    C. Ethics and responsibilities in tax practice
    D. Licensing and disciplinary systems imposed by the profession and state regulatory bodies
    E. Legal responsibilities and liabilities
    • Common law liability to clients and third parties
    • Federal statutory liability
    F. Privileged communications and confidentiality

    AICPA Code of Professional Conduct

    Download full version of AICPA professional Ethics

    Source: http://www.aicpa.org/About/code/index.html