13:13
i heard the group interview is really chill and I'm kinda excited to do it
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Simple English definitions for legal terms
Technical Advice Memorandum
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A quick definition of Technical Advice Memorandum:
A Technical Advice Memorandum (TAM) is a document issued by the national office of the Internal Revenue Service (IRS) to explain complex or new tax-law issues. It is usually requested by taxpayers who need help understanding tax laws. The TAM provides guidance and advice on how to comply with tax laws and regulations.
The Technology Administration is a unit in the U.S. Department of Commerce that helps businesses use technology to grow the economy. It has three offices: the Office of Technology Policy (OTP), the National Institute of Standards and Technology (NIST), and the National Technical Information Service (NTIS). The agency also carries out technology programs and shares information about technology. It was created in 1988.
A more thorough explanation:
A Technical Advice Memorandum (TAM) is a publication issued by the national office of the Internal Revenue Service (IRS) to explain complex or novel tax-law issues. It is usually issued at the request of a taxpayer.
For example, if a taxpayer is unsure about how to handle a particular tax situation, they can request a TAM from the IRS. The TAM will provide guidance on how to proceed and ensure that the taxpayer is in compliance with tax laws.
Another example of a TAM is when a taxpayer is involved in a unique or complex tax situation that requires clarification. The TAM will provide guidance on how to handle the situation and ensure that the taxpayer is in compliance with tax laws.
In summary, a Technical Advice Memorandum is a publication issued by the IRS to provide guidance on complex or novel tax-law issues. It is a valuable resource for taxpayers who need clarification on how to handle unique or complex tax situations.