Discuss exemptions, constructive receipt, for/from AGI, Tax
Provide very general explanation (to readers who have never heard of these terms) about the following topics:
1.- discuss the concept of DEPENDENCY EXEMPTION as it applies to the income tax of individuals
2.- discuss the concept of CONSTRUCTIVE RECEIPT as it applies to the income tax of individuals
3.- for individual tax purposes, what is the distinction between deduction FOR adjusted gross income and deduction FROM adjusted gross income important?
4.- discuss the distinction between TREASURY REGULATIONS and REVENUE RULINGS and the role each plays
5.- discuss what is covered by the term TAX LAW and the relative importance of its components.