Tax accounting

Answer EACH of the questions presented below with a well-organized and fully developed response. 1. Discuss the main objectives of the U.S. federal tax system. 2. Explain the difference between the Internal Revenue Code (IRC), Treasury Regulations, and revenue rulings. Provide examples. 3. Discuss any two recent (2020 and/or 2021) changes to the tax law. Why were these changes made? 4. Discuss any two currently proposed changes to the tax law. Why are these changes being proposed? 5. Summarize any tax case from 2020 or 2021 which relates to tax evasion. 6. Discuss any two strange/weird U.S. tax laws. 7. Why do temporary differences occur between tax accounting and financial accounting? Provide two examples of BOTH deferred tax assets and deferred tax liabilities. 8. Why do permanent differences occur between tax accounting and financial accounting? Provide two examples. 9. If you were a member of Congress, what changes would you propose to the U.S. tax law?