Question

List the five steps in the tax research process in order.

A) Identify the problem, Gather information, Analyze the information, Develop conclusions, Communicate results
B) Analyze the information, Gather information, Identify the problem, Develop conclusions, Communicate results
C) Develop conclusions, Identify the problem, Analyze the information, Gather information, Communicate results
D) Communicate results, Develop conclusions, Analyze the information, Gather information, Identify the problem

Answer 1

The five steps in the tax research process are: Identify the problem, Gather information, Analyze the information, Develop conclusions, and Communicate results.

Step-by-step explanation:

The correct order of the five steps in the tax research process is as follows:

1. Identify the problem,
2. Gather information,
3. Analyze the information,
4. Develop conclusions,
5. Communicate results.

This sequence ensures that the issue is clearly understood before seeking relevant data, which is then meticulously examined to formulate well-founded conclusions. Finally, the findings are effectively communicated to the relevant stakeholders. Each step is integral to conducting thorough and effective tax research.