Rainbow Tax Service, Inc. - Page 10

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               We sustain respondent’s determination that tax return                  
          preparation and bookkeeping services constitute and are to be               
          treated as services in the field of accounting.  Substantially              
          all of petitioner’s employees’ activities involve the performance           
          of services in the field of accounting.  Accordingly, for the 2             
          years in issue, petitioner is to be treated as a qualified                  
          personal service corporation taxed at the flat 35-percent rate              
          set forth in section 11(b)(2).                                              
               To reflect the foregoing,                                              
                                                  Decision will be entered            
                                             for respondent.                          

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Last modified: May 25, 2011