Question 1

Which of the following is secondary authority?

Accepted Answer

A)  RIA and CCH tax services 
B)  Internal Revenue Code 
C)  Treasury Regulations 
D)  Revenue Ruling 
A)  RIA and CCH tax services 
B)  Internal Revenue Code 
C)  Treasury Regulations 
D)  Revenue Ruling

Question 2

Tax Court memorandum decisions

Accepted Answer

A)  cannot be appealed. 
B)  have less precedential value than regular decisions. 
C)  usually deal with factual variations of issues litigated previously. 
D)  are not published. 
A)  cannot be appealed. 
B)  have less precedential value than regular decisions. 
C)  usually deal with factual variations of issues litigated previously. 
D)  are not published.

Question 3

Indicate which courts decided the case cited below. Also indicate on which pages and in which publications the is reported.
U.S. v. Maclin P. Davis, 397 U.S. 301, 25 AFTR 2d 70- 827, 70- 1 USTC & 9289 (1970).

Accepted Answer

This case appears in Vol. 397, page 301,

Question 4

What is the purpose of Treasury Regulations?

Accepted Answer

The Treasury Department issues regulatio

Question 5

Describe the appeals process in tax litigation.

Accepted Answer

Appeals from Tax Court and U.S. district

Question 6

Final regulations can take effect on any of the following dates except

Accepted Answer

A)  the date on which they were issued in final form. 
B)  the date on which related temporary regulations were first published in the Federal Register. 
C)  the date on which final regulations were proposed. 
D)  the effective date of the statutory language they interpret, provided they are issued within 18 months of the date of the change to the statute. 
A)  the date on which they were issued in final form. 
B)  the date on which related temporary regulations were first published in the Federal Register. 
C)  the date on which final regulations were proposed. 
D)  the effective date of the statutory language they interpret, provided they are issued within 18 months of the date of the change to the statute.

Question 7

Discuss the purposes and scope of temporary regulations.

Accepted Answer

Temporary regulations are issued by the

Question 8

Identify which of the following statements is false.

Accepted Answer

A)  A U.S. Supreme Court opinion in a tax matter has the same status as Congressional tax legislation. 
B)  Circuit Court decisions are reported in the Federal Reporter. 
C)  Citations to the AFTR and the USTC are referred to as secondary citations. 
D)  A circuit court of appeals must follow the opinion of another circuit court of appeals if the latter appeals court has previously ruled on the tax issue. 
A)  A U.S. Supreme Court opinion in a tax matter has the same status as Congressional tax legislation. 
B)  Circuit Court decisions are reported in the Federal Reporter. 
C)  Citations to the AFTR and the USTC are referred to as secondary citations. 
D)  A circuit court of appeals must follow the opinion of another circuit court of appeals if the latter appeals court has previously ruled on the tax issue.

Question 9

What is "forum- shopping"?

Accepted Answer

Forum- shopping involves choosing where

Question 10

Where must a tax researcher look to access all Tax Court cases?

Accepted Answer

The regular opinions are found in the Ta

Question 11

In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.

Accepted Answer

The Tax Court, the U.S. Court of Federal

Question 12

When a court discusses issues not raised by the facts, the comments

Accepted Answer

A)  will cause the court's decision to be declared invalid. 
B)  are excluded from the formal court opinion. 
C)  may be referenced by the parties in other cases having the same facts. 
D)  are not dicta. 
A)  will cause the court's decision to be declared invalid. 
B)  are excluded from the formal court opinion. 
C)  may be referenced by the parties in other cases having the same facts. 
D)  are not dicta.

Question 13

A client wants to take a tax return position with less than a 10% probability of being upheld in court. The CPA should

Accepted Answer

A)  take the client's desired position, but not sign the tax return. 
B)  ask the client to sign a waiver of his right to sue the CPA in the event the IRS disallows the position. 
C)  inform the client that the position does not have a realistic possibility of success. 
D)  take the client's desired position and sign the return as usual. 
A)  take the client's desired position, but not sign the tax return. 
B)  ask the client to sign a waiver of his right to sue the CPA in the event the IRS disallows the position. 
C)  inform the client that the position does not have a realistic possibility of success. 
D)  take the client's desired position and sign the return as usual.

Question 14

Which tax service is usually deemed to be the most authoritative?

Accepted Answer

A)  All are equally authoritative. 
B)  Federal Tax Coordinator 2d 
C)  Standard Federal Tax Reporter 
D)  United States Tax Reporter 
A)  All are equally authoritative. 
B)  Federal Tax Coordinator 2d 
C)  Standard Federal Tax Reporter 
D)  United States Tax Reporter

Question 15

When a taxpayer contacts a tax advisor requesting advice as to the most advantageous way to dispose of a stock, the tax advisor is faced with

Accepted Answer

A)  a closed- fact situation. 
B)  a restricted- fact situation. 
C)  an open- fact situation. 
D)  a recognized- fact situation. 
A)  a closed- fact situation. 
B)  a restricted- fact situation. 
C)  an open- fact situation. 
D)  a recognized- fact situation.

Question 16

Explain the difference between a closed- fact and open- fact situation.

Accepted Answer

In a closed- fact situation, the transac

Question 17

Statements on Standards for Tax Services are issued by

Accepted Answer

A)  the SEC. 
B)  the IRS. 
C)  the FASB. 
D)  the AICPA. 
A)  the SEC. 
B)  the IRS. 
C)  the FASB. 
D)  the AICPA.

Question 18

The acquiescence policy of the IRS extends to the

Accepted Answer

A)  U.S. District Court decisions. 
B)  U.S. Supreme Court decisions. 
C)  U.S. Tax Court regular decisions. 
D)  both B and C 
A)  U.S. District Court decisions. 
B)  U.S. Supreme Court decisions. 
C)  U.S. Tax Court regular decisions. 
D)  both B and C

Question 19

When the House and Senate versions of a tax bill are not in agreement, the disagreements are resolved by the

Accepted Answer

A)  Mediation Committee. 
B)  Ways and Means Committee. 
C)  Conference Committee. 
D)  Revenue Committee. 
A)  Mediation Committee. 
B)  Ways and Means Committee. 
C)  Conference Committee. 
D)  Revenue Committee.

Question 20

Under what circumstances might a tax advisor find the provisions of a tax treaty useful?

Accepted Answer

A tax advisor might consult th

Which of the following is secondary authority?

Tax Court memorandum decisions

Indicate which courts decided the case cited below. Also indicate on which pages and in which publications the is reported. U.S. v. Maclin P. Davis, 397 U.S. 301, 25 AFTR 2d 70- 827, 70- 1 USTC & 9289 (1970).

What is the purpose of Treasury Regulations?

Describe the appeals process in tax litigation.

Final regulations can take effect on any of the following dates except

Discuss the purposes and scope of temporary regulations.

Identify which of the following statements is false.

What is "forum- shopping"?

Where must a tax researcher look to access all Tax Court cases?

In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.

When a court discusses issues not raised by the facts, the comments

A client wants to take a tax return position with less than a 10% probability of being upheld in court. The CPA should

Which tax service is usually deemed to be the most authoritative?

When a taxpayer contacts a tax advisor requesting advice as to the most advantageous way to dispose of a stock, the tax advisor is faced with

Explain the difference between a closed- fact and open- fact situation.

Statements on Standards for Tax Services are issued by

The acquiescence policy of the IRS extends to the

When the House and Senate versions of a tax bill are not in agreement, the disagreements are resolved by the

Under what circumstances might a tax advisor find the provisions of a tax treaty useful?

Corporate Formations and Capital Structure

The Corporate Income Tax

Corporate Nonliquidating Distributions

Other Corporate Tax Levies

Corporate Liquidating Distributions

Corporate Acquisitions and Reorganizations

Consolidated Tax Returns

Partnership Formation and Operation

Special Partnership Issues

S Corporations

The Gift Tax

The Estate Tax

Income Taxation of Trusts and Estates

Administrative Procedures

U.S. Taxation of Foreign-Related Transactions

Filters

Exam 1: Tax Research

Which of the following is secondary authority?

Tax Court memorandum decisions

Indicate which courts decided the case cited below. Also indicate on which pages and in which publications the is reported. U.S. v. Maclin P. Davis, 397 U.S. 301, 25 AFTR 2d 70- 827, 70- 1 USTC & 9289 (1970).

What is the purpose of Treasury Regulations?

Describe the appeals process in tax litigation.

Final regulations can take effect on any of the following dates except

Discuss the purposes and scope of temporary regulations.

Identify which of the following statements is false.

What is "forum- shopping"?

Where must a tax researcher look to access all Tax Court cases?

In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.

When a court discusses issues not raised by the facts, the comments

A client wants to take a tax return position with less than a 10% probability of being upheld in court. The CPA should

Which tax service is usually deemed to be the most authoritative?

When a taxpayer contacts a tax advisor requesting advice as to the most advantageous way to dispose of a stock, the tax advisor is faced with

Explain the difference between a closed- fact and open- fact situation.

Statements on Standards for Tax Services are issued by

The acquiescence policy of the IRS extends to the

When the House and Senate versions of a tax bill are not in agreement, the disagreements are resolved by the

Under what circumstances might a tax advisor find the provisions of a tax treaty useful?

Corporate Formations and Capital Structure

The Corporate Income Tax

Corporate Nonliquidating Distributions

Other Corporate Tax Levies

Corporate Liquidating Distributions

Corporate Acquisitions and Reorganizations

Consolidated Tax Returns

Partnership Formation and Operation

Special Partnership Issues

S Corporations

The Gift Tax

The Estate Tax

Income Taxation of Trusts and Estates

Administrative Procedures

U.S. Taxation of Foreign-Related Transactions

Filters