Exam 1: Tax Research

Discuss the purposes and scope of temporary regulations.

The number appearing immediately following the decimal place in a regulation citation refers to the

Assume that the Tax Court decided an expenditure in question was deductible. The government appealed to the Circuit, which reversed the decision and held it was not deductible. No other circuits have ruled on the issue. A new case has just been filed in the Tax Court. How will the Tax Court rule if this new case is appealable to the Circuit? Would your answer be different if the case was appealable to the Fifth Circuit?

Which of the following is a true statement regarding primary authority of tax law?

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).

Your client wants to deduct commuting expenses on his tax return. You explain to the client that there is no legal authority allowing this deduction. The client, however, continues to insist on this action. What guidance do the Statements on Standards for Tax Services provide in this dilemma?

According to the Statements on Standards for Tax Services, if a CPA believes that a client's prior- year tax return contains false information, the CPA should report this to the

During the course of an audit, a CPA discovers an error in a prior return. According to the Statements on Standards for Tax Services, the CPA should

What is the difference between a taxpayer- requested letter ruling and a technical advice memorandum issued as a letter ruling?

Statements on Standards for Tax Services are issued by

What are some of the consequences of the small cases procedure of the Tax Court?

Taxpayers must pay the disputed tax prior to filing a case with the Tax Court.

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

Identify which of the following statements is true.

Discuss the conflict between advocacy for a client and responsibility to the IRS.

When the Tax Court follows the opinion of the circuit court of appeals to which the case is appealable, the court is following the

A revenue ruling is issued by the Internal Revenue Service only in response to a verbal inquiry by a taxpayer.

Identify which of the following statements is false.

Which of the following steps, related to a tax bill, occurs first?

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