Question 1

Which of the following is not a commercial tax service?

Accepted Answer

A) RIA Federal Tax Coordinator 2d 
B) CCH Federal Tax Services 
C) BNA Tax Management Portfolios 
D) Cumulative Bulletin 
A) RIA Federal Tax Coordinator 2d 
B) CCH Federal Tax Services 
C) BNA Tax Management Portfolios 
D) Cumulative Bulletin

Question 2

In locating relevant authorities:

Accepted Answer

A) Only a novice researcher will use secondary authorities as a guide. 
B) Experienced researchers always conduct their search in exactly the same way for every research project. 
C) Tax researchers may consult more than one tax service. 
D) Skilled researchers usually consult a broader range of library materials than novice researchers. 
A) Only a novice researcher will use secondary authorities as a guide. 
B) Experienced researchers always conduct their search in exactly the same way for every research project. 
C) Tax researchers may consult more than one tax service. 
D) Skilled researchers usually consult a broader range of library materials than novice researchers.

Question 3

Which of the following primary authorities is least likely to provide a detailed description of facts to which a researcher can compare his or her client's fact pattern?

Accepted Answer

A) Internal Revenue Code section 
B) Treasury regulation 
C) Revenue ruling 
D) Tax Court decision 
A) Internal Revenue Code section 
B) Treasury regulation 
C) Revenue ruling 
D) Tax Court decision

Question 4

A keyword search using an electronic database is part of which step in the research process?

Accepted Answer

A) Understand the client's transaction and ascertain the facts 
B) Identify the tax issues,problems,or opportunities suggested by the facts and formulate specific research questions 
C) Locate relevant tax law authority 
D) Analyze relevant authority and answer the research questions 
A) Understand the client's transaction and ascertain the facts 
B) Identify the tax issues,problems,or opportunities suggested by the facts and formulate specific research questions 
C) Locate relevant tax law authority 
D) Analyze relevant authority and answer the research questions

Question 5

Experienced tax professionals generally can answer most tax questions without the need for tax research.

Accepted Answer

A) True 
 B)False

Question 6

Step 4 of the tax research process is to repeat steps 1 through 3 as many times as necessary.

Accepted Answer

A) True 
 B)False

Question 7

A research memorandum is typically less detailed than a client letter in terms of discussing supporting legal authorities.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following statements regarding the tax research process is true?

Accepted Answer

A) Before a researcher can analyze the tax consequences of a transaction,he or she must thoroughly understand the transaction. 
B) Tax research is often conducted as part of both tax compliance and tax planning activities. 
C) Tax research is a critical skill for the tax practitioner. 
D) All of the above statements are true. 
A) Before a researcher can analyze the tax consequences of a transaction,he or she must thoroughly understand the transaction. 
B) Tax research is often conducted as part of both tax compliance and tax planning activities. 
C) Tax research is a critical skill for the tax practitioner. 
D) All of the above statements are true.

Question 9

Which of the following is a proper citation to a revenue ruling?

Accepted Answer

A) Revenue Ruling 2004-33 
B) RR 2004-33 
C) Rev.Rul.2006-33,2004-1 C.B.628 
D) All of the above are proper forms for citing a Revenue Ruling 
A) Revenue Ruling 2004-33 
B) RR 2004-33 
C) Rev.Rul.2006-33,2004-1 C.B.628 
D) All of the above are proper forms for citing a Revenue Ruling

Question 10

When analyzing tax authorities,the researcher must decide if the authority requires a factual judgment or an evaluative judgment.The difference between the two can be described as follows:

Accepted Answer

A) In making an evaluative judgment,the researcher can provide a definitive answer to the research question. 
B) In making a factual judgment,the authority may be subject to interpretation. 
C) In making an evaluative judgment,the researcher must draw a subjective conclusion that results in a qualified answer. 
D) There is little difference between a factual judgment and an evaluative judgment. 
A) In making an evaluative judgment,the researcher can provide a definitive answer to the research question. 
B) In making a factual judgment,the authority may be subject to interpretation. 
C) In making an evaluative judgment,the researcher must draw a subjective conclusion that results in a qualified answer. 
D) There is little difference between a factual judgment and an evaluative judgment.

Question 11

Which of the following is not one of the six steps in the tax research process?

Accepted Answer

A) Identify the tax issues,problems,or opportunities suggested by the facts and formulate specific research questions. 
B) Consult a commercial tax service to identify potential legal authorities. 
C) Analyze relevant authority and answer the research questions. 
D) Document your research and communicate your conclusions. 
A) Identify the tax issues,problems,or opportunities suggested by the facts and formulate specific research questions. 
B) Consult a commercial tax service to identify potential legal authorities. 
C) Analyze relevant authority and answer the research questions. 
D) Document your research and communicate your conclusions.

Question 12

Using an electronic research database such as Checkpoint,CCH Tax Research NetWork,or Lexis-Nexis,perform a keyword search that includes the phrase business expense and the keyword charity.Include both primary sources and editorial materials in your search.
a.How many documents did your search retrieve?
b.How many documents are primary authorities and how many are secondary authorities?
c.Provide citations to two primary authorities and two secondary authorities.

Accepted Answer

The answers to this problem de

Question 13

Which of the following is not one of the six steps in the tax research process?

Accepted Answer

A) Understand the client's transaction and ascertain the facts. 
B) Locate relevant tax law authority. 
C) Analyze relevant authority and answer the research questions. 
D) All of the above are steps in the tax research process. 
A) Understand the client's transaction and ascertain the facts. 
B) Locate relevant tax law authority. 
C) Analyze relevant authority and answer the research questions. 
D) All of the above are steps in the tax research process.

Question 14

A citator:

Accepted Answer

A) Is not an important tax research resource. 
B) May be used to determine the status of tax judicial decisions,revenue rulings,and revenue procedures. 
C) Is published by the federal government. 
D) Provides an editorial explanation of tax judicial decisions. 
A) Is not an important tax research resource. 
B) May be used to determine the status of tax judicial decisions,revenue rulings,and revenue procedures. 
C) Is published by the federal government. 
D) Provides an editorial explanation of tax judicial decisions.

Question 15

The topical index of a commercial tax service is considered primary authority.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following statements regarding documentation of research conclusions is false?

Accepted Answer

A) A research memorandum is a permanent record of the research process. 
B) A researcher communicates his or her conclusions to the client in a letter containing information similar to that in the research memorandum. 
C) Technical references are generally inappropriate in a client letter. 
D) A research memorandum contains only research conclusions and not a detailed analysis of legal authorities supporting those conclusions. 
A) A research memorandum is a permanent record of the research process. 
B) A researcher communicates his or her conclusions to the client in a letter containing information similar to that in the research memorandum. 
C) Technical references are generally inappropriate in a client letter. 
D) A research memorandum contains only research conclusions and not a detailed analysis of legal authorities supporting those conclusions.

Question 17

A taxpayer who loses a case in the U.S.Tax Court may appeal the case directly to the U.S.Supreme Court.

Accepted Answer

A) True 
 B)False

Question 18

A revenue ruling cannot be relied on as authority by any taxpayer other than the taxpayer for whom the ruling was issued.

Accepted Answer

A) True 
 B)False

Question 19

Secondary authorities are typically used only by novice researchers in searching for answers to tax questions.

Accepted Answer

A) True 
 B)False

Question 20

The first step in the tax research process is to locate relevant tax law authority.

Accepted Answer

A) True 
 B)False

Which of the following is not a commercial tax service?

In locating relevant authorities:

Which of the following primary authorities is least likely to provide a detailed description of facts to which a researcher can compare his or her client's fact pattern?

A keyword search using an electronic database is part of which step in the research process?

Experienced tax professionals generally can answer most tax questions without the need for tax research.

Step 4 of the tax research process is to repeat steps 1 through 3 as many times as necessary.

A research memorandum is typically less detailed than a client letter in terms of discussing supporting legal authorities.

Which of the following statements regarding the tax research process is true?

Which of the following is a proper citation to a revenue ruling?

When analyzing tax authorities,the researcher must decide if the authority requires a factual judgment or an evaluative judgment.The difference between the two can be described as follows:

Which of the following is not one of the six steps in the tax research process?

Which of the following is not one of the six steps in the tax research process?

A citator:

The topical index of a commercial tax service is considered primary authority.

Which of the following statements regarding documentation of research conclusions is false?

A taxpayer who loses a case in the U.S.Tax Court may appeal the case directly to the U.S.Supreme Court.

A revenue ruling cannot be relied on as authority by any taxpayer other than the taxpayer for whom the ruling was issued.

Secondary authorities are typically used only by novice researchers in searching for answers to tax questions.

The first step in the tax research process is to locate relevant tax law authority.

Taxes and Taxing Jurisdictions

Policy Standards for a Good Tax

Taxes As Transaction Costs

Maxims of Income Tax Planning

Taxable Income From Business Operations

Property Acquisitions and Cost Recovery Deductions

Property Dispositions

Nontaxable Exchanges

Sole Proprietorships, partnerships, llcs, and S Corporations

The Corporate Taxpayer

The Choice of Business Entity

Jurisdictional Issues in Business Taxation

The Individual Tax Formula

Compensation and Retirement Planning

Investment and Personal Financial Planning

Tax Consequences of Personal Activities

The Tax Compliance Process

Filters

Exam 5: Tax Research

Which of the following is not a commercial tax service?

In locating relevant authorities:

Which of the following primary authorities is least likely to provide a detailed description of facts to which a researcher can compare his or her client's fact pattern?

A keyword search using an electronic database is part of which step in the research process?

Experienced tax professionals generally can answer most tax questions without the need for tax research.

Step 4 of the tax research process is to repeat steps 1 through 3 as many times as necessary.

A research memorandum is typically less detailed than a client letter in terms of discussing supporting legal authorities.

Which of the following statements regarding the tax research process is true?

Which of the following is a proper citation to a revenue ruling?

When analyzing tax authorities,the researcher must decide if the authority requires a factual judgment or an evaluative judgment.The difference between the two can be described as follows:

Which of the following is not one of the six steps in the tax research process?

Which of the following is not one of the six steps in the tax research process?

A citator:

The topical index of a commercial tax service is considered primary authority.

Which of the following statements regarding documentation of research conclusions is false?

A taxpayer who loses a case in the U.S.Tax Court may appeal the case directly to the U.S.Supreme Court.

A revenue ruling cannot be relied on as authority by any taxpayer other than the taxpayer for whom the ruling was issued.

Secondary authorities are typically used only by novice researchers in searching for answers to tax questions.

The first step in the tax research process is to locate relevant tax law authority.

Taxes and Taxing Jurisdictions

Policy Standards for a Good Tax

Taxes As Transaction Costs

Maxims of Income Tax Planning

Taxable Income From Business Operations

Property Acquisitions and Cost Recovery Deductions

Property Dispositions

Nontaxable Exchanges

Sole Proprietorships, partnerships, llcs, and S Corporations

The Corporate Taxpayer

The Choice of Business Entity

Jurisdictional Issues in Business Taxation

The Individual Tax Formula

Compensation and Retirement Planning

Investment and Personal Financial Planning

Tax Consequences of Personal Activities

The Tax Compliance Process

Filters