Legal Exchange Information Service (LEXIS)

Legal Research Federal Tax Library Internal Revenue Code Tax Regulations Revenue Rulings Court Decisions LexisNexis Legal Database
Lexis is an online database for legal research; its resources include the Federal Tax library, which contains the full text of the Internal Revenue Code, as well as regulations, revenue rulings, and court decisions of interest to tax practitioners.
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Definition

The Legal Exchange Information Service (LEXIS) is a comprehensive online database designed for legal research. Managed by LexisNexis, it provides an extensive collection of legal documents, including case law, statutes, regulations, and legal periodicals. One of its most notable features is the Federal Tax library, which contains the full text of the Internal Revenue Code, as well as various regulations, revenue rulings, and pertinent court decisions. LEXIS is a widely used resource among legal professionals, scholars, and tax practitioners for its reliable and detailed legal information.

Examples

  1. Federal Tax Research: A tax attorney uses LEXIS to access the most current version of the Internal Revenue Code and study recent court decisions affecting tax law.
  2. Case Law Retrieval: A law student uses LEXIS to gather and analyze case law relevant to an upcoming moot court competition.
  3. Regulatory Updates: An accountant stays informed of new tax regulations by regularly consulting the Federal Tax library on LEXIS.

Frequently Asked Questions

Q: What types of documents can be found in LEXIS?

A: LEXIS offers a wide range of documents including case law, statutes, administrative codes, legal news, and periodicals. Specifically, the Federal Tax library includes the full text of the Internal Revenue Code, tax regulations, revenue rulings, and federal tax court decisions.

Q: Who can benefit from using LEXIS?

A: LEXIS is beneficial for a variety of users including lawyers, tax practitioners, accountants, law students, and legal scholars who require in-depth legal research and updates on legal proceedings and legislation.

Q: How does LEXIS stay current with legal information?

A: LEXIS is updated regularly to reflect the latest changes in laws, regulations, and court decisions. This ensures that users have access to the most accurate and up-to-date legal information.

  • Internal Revenue Code (IRC): The body of law governing federal tax policy in the United States, providing detailed rules on taxation and tax regulations.
  • Revenue Rulings: Official interpretations by the Internal Revenue Service (IRS) providing guidance on how the tax code and regulations apply to specific situations.
  • Case Law: Law established based on judicial decisions from court cases rather than statutes or regulations.
  • Legal Periodicals: Publications like law reviews and journals that provide commentary, analysis, and critique on various legal issues and trends.

Online References

  1. LexisNexis Legal & Professional - Official site for LexisNexis providing access to their legal research services.
  2. Internal Revenue Service (IRS) - Official U.S. government site providing tax information and publications, including links to the Internal Revenue Code.
  3. Library of Congress: Law Library - An online resource for legal research with various law-related collections and guides.

Suggested Books for Further Studies

  1. “Basic Federal Income Taxation” by William D. Andrews and John A. Rock - A comprehensive guide to understanding the principles of federal income taxation.
  2. “Legal Research, Analysis, and Writing” by William H. Putman - A thorough exploration of legal research techniques and methodologies.
  3. “Federal Tax Research” by Gail Levin Richmond - A detailed resource on conducting research on federal taxation issues.
### What is the primary focus of the Federal Tax Library in LEXIS? - [ ] Case law pertaining to criminal law - [x] Internal Revenue Code and tax-related documents - [ ] Real estate transactions - [ ] International trade laws > **Explanation:** The primary focus of the Federal Tax Library in LEXIS is the Internal Revenue Code and tax-related documents, including regulations, revenue rulings, and court decisions. ### Who primarily uses LEXIS? - [ ] Construction workers - [ ] Medical professionals - [x] Legal professionals and tax practitioners - [ ] Pilots > **Explanation:** LEXIS is primarily used by legal professionals, tax practitioners, accountants, and law students for legal research and accessing in-depth legal and regulatory information. ### How often is LEXIS updated? - [ ] Once a year - [ ] Only when new laws are passed - [x] Regularly to reflect changes in laws and court decisions - [ ] Every decade > **Explanation:** LEXIS is updated regularly to ensure that users have access to the most recent changes in laws, regulations, and court decisions. ### What kind of information is NOT found in the Federal Tax Library on LEXIS? - [x] State criminal law records - [ ] Regulations - [ ] Revenue rulings - [ ] Internal Revenue Code > **Explanation:** The Federal Tax Library on LEXIS focuses on federal tax documents, not state criminal law records. ### Which organization provides revenue rulings included in LEXIS? - [ ] The Federal Bureau of Investigation (FBI) - [ ] The Department of Transportation (DOT) - [x] The Internal Revenue Service (IRS) - [ ] The Environmental Protection Agency (EPA) > **Explanation:** Revenue rulings included in LEXIS are provided by the Internal Revenue Service (IRS), offering official guidance on tax law applications. ### Which legal resource is specifically mentioned as part of LEXIS? - [ ] Uniform Commercial Code - [ ] Food and Drug Regulations - [x] Internal Revenue Code - [ ] Federal Aviation Regulations > **Explanation:** The Internal Revenue Code is specifically mentioned as part of the resources available in the Federal Tax Library on LEXIS. ### For whom is the library of legal periodicals within LEXIS most useful? - [ ] Farmers - [x] Legal scholars and students - [ ] Fitness trainers - [ ] Artists > **Explanation:** The library of legal periodicals within LEXIS is most useful for legal scholars and students seeking detailed analysis and commentary on various legal issues. ### Does LEXIS include court decisions relevant to tax law? - [x] Yes, it includes federal tax court decisions. - [ ] No, it only includes statutes. - [ ] Only appellate court decisions are included. - [ ] Only criminal court decisions are included. > **Explanation:** LEXIS includes federal tax court decisions, offering a comprehensive view of major rulings that affect tax law. ### Can LEXIS be used for real estate transactions? - [ ] No, it is only for tax law. - [ ] No, it is limited to criminal law research. - [x] Yes, it includes documents relevant to various areas of law, including real estate. - [ ] Only for personal injury law > **Explanation:** LEXIS includes a broad array of legal documents relevant to various areas of law, including real estate transactions. ### What is the benefit of using LEXIS for legal research? - [ ] Limited access to primary legal documents - [ ] Fragmented and outdated regulation references - [x] Comprehensive, up-to-date, and searchable legal information - [ ] Access only available during office hours > **Explanation:** The benefit of using LEXIS for legal research is comprehensive, up-to-date, and searchable legal information, accessible at any time.

Thank you for exploring the comprehensive resources of the Legal Exchange Information Service (LEXIS) and tackling our quiz questions. Continually enhance your legal proficiency!

Wednesday, August 7, 2024
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Internal Revenue Code (IRC) January 1, 1
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