Question 1

Final regulations have almost the same legislative weight as the IRC.

Accepted Answer

A) True 
 B)False

Question 2

A citator enables tax researchers to locate authorities (e.g., cases and IRS pronouncements) that have cited a particular case.

Accepted Answer

A) True 
 B)False

Question 3

Internet versions of topical tax services include

Accepted Answer

A)  Court cases involving tax issues. 
B)  Code and Regulations. 
C)  Revenue rulings, letter rulings, and revenue procedures. 
D)  All of the above. 
A)  Court cases involving tax issues. 
B)  Code and Regulations. 
C)  Revenue rulings, letter rulings, and revenue procedures. 
D)  All of the above.

Question 4

Compare and contrast "interpretative" and "statutory" regulations.

Accepted Answer

Both types of regulations are issued by

Question 5

The Tax Court decides an expenditure is deductible in the year the issue was first litigated. The government appealed and won a reversal in the Ninth Circuit Court of Appeals. It is the only appellate decision regarding the issue. If and when the Tax Court encounters this issue again, how will it hold?

Accepted Answer

The Tax Court will hold that t

Question 6

Regulations are

Accepted Answer

A)  equal in authority to legislation. 
B)  presumed to be valid and to have almost the same weight as the IRC. 
C)  equal in authority to legislation if statutory. 
D)  equal in authority to legislation if interpretative. 
A)  equal in authority to legislation. 
B)  presumed to be valid and to have almost the same weight as the IRC. 
C)  equal in authority to legislation if statutory. 
D)  equal in authority to legislation if interpretative.

Question 7

A tax bill introduced in the House of Representatives is then

Accepted Answer

A)  referred to the House Ways and Means Committee for hearings and approval. 
B)  referred to the entire House for hearings. 
C)  forwarded to the Senate Finance Committee for consideration. 
D)  voted upon by the entire House. 
A)  referred to the House Ways and Means Committee for hearings and approval. 
B)  referred to the entire House for hearings. 
C)  forwarded to the Senate Finance Committee for consideration. 
D)  voted upon by the entire House.

Question 8

You need to locate a recent tax case that was tried in a Federal district court. The decision is an "unreported" decision. This means the decision was

Accepted Answer

A)  not published in American Federal Tax Reports. 
B)  not published in the Federal Supplement. 
C)  not published in United States Tax Cases. 
D)  settled out of court. 
A)  not published in American Federal Tax Reports. 
B)  not published in the Federal Supplement. 
C)  not published in United States Tax Cases. 
D)  settled out of court.

Question 9

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 10

A jury trial is permitted in the

Accepted Answer

A)  U.S. Tax Court. 
B)  U.S. Tax Court when the small case procedures are used. 
C)  U.S. District Court. 
D)  U.S. Court of Federal Claims. 
A)  U.S. Tax Court. 
B)  U.S. Tax Court when the small case procedures are used. 
C)  U.S. District Court. 
D)  U.S. Court of Federal Claims.

Question 11

Identify which of the following statements is true.

Accepted Answer

A)  Paragraph references are most commonly used when citing or referring to the tax statutes. 
B)  The Internal Revenue Code contains chapters, which are further subdivided into titles. 
C)  Before 1939, tax statutes were codified or compiled into one document. 
D)  Title 26 of the United States Code and the Internal Revenue Code of 1986 are synonymous. 
A)  Paragraph references are most commonly used when citing or referring to the tax statutes. 
B)  The Internal Revenue Code contains chapters, which are further subdivided into titles. 
C)  Before 1939, tax statutes were codified or compiled into one document. 
D)  Title 26 of the United States Code and the Internal Revenue Code of 1986 are synonymous.

Question 12

A tax case cannot be appealed when initiated in the

Accepted Answer

A)  U.S. Tax Court using the small case procedures. 
B)  U.S. Court of Federal Claims. 
C)  U.S. Tax Court. 
D)  none of the above 
A)  U.S. Tax Court using the small case procedures. 
B)  U.S. Court of Federal Claims. 
C)  U.S. Tax Court. 
D)  none of the above

Question 13

Which of the following best describes the weight of a revenue ruling?

Accepted Answer

A)  Revenue rulings should never be used as authority since they only apply to the taxpayer requesting the ruling. 
B)  Revenue rulings carry more weight than regulations. 
C)  Regulations carry more weight than revenue rulings. 
D)  Revenue rulings carry more weight than federal court decisions. 
A)  Revenue rulings should never be used as authority since they only apply to the taxpayer requesting the ruling. 
B)  Revenue rulings carry more weight than regulations. 
C)  Regulations carry more weight than revenue rulings. 
D)  Revenue rulings carry more weight than federal court decisions.

Question 14

What are some of the factors to consider when deciding in which court to file a tax- related claim?

Accepted Answer

Factors to consider include ea

Question 15

Investigation of a tax problem that involves a closed- fact situation means that

Accepted Answer

A)  the client's tax return has yet to be filed. 
B)  the client's transactions have already occurred and the tax questions must now be resolved. 
C)  future events may be planned and controlled. 
D)  research is primarily concerned with applying the law to the facts as they exist. 
A)  the client's tax return has yet to be filed. 
B)  the client's transactions have already occurred and the tax questions must now be resolved. 
C)  future events may be planned and controlled. 
D)  research is primarily concerned with applying the law to the facts as they exist.

Question 16

Which regulation deals with Code Section 165?

Accepted Answer

A)  Reg. Sec. 1.165- 5 
B)  Reg. Sec. 165- 5 
C)  Reg. Sec. 1.5- 165 
D)  Reg. Sec. 165.183- 5 
A)  Reg. Sec. 1.165- 5 
B)  Reg. Sec. 165- 5 
C)  Reg. Sec. 1.5- 165 
D)  Reg. Sec. 165.183- 5

Question 17

Explain how committee reports can be used in tax research. What do they indicate?

Accepted Answer

Committee reports can help res

Question 18

George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court. He would like to appeal the decision. Which one of the following is true?

Accepted Answer

A)  He would appeal first to the U.S. Court of Appeals for the Federal Circuit. 
B)  He would appeal first to the U.S. Court of Federal Claims. 
C)  There is no appeal. 
D)  He can appeal the case, but only if the amount of tax involved is greater than $5,000. 
A)  He would appeal first to the U.S. Court of Appeals for the Federal Circuit. 
B)  He would appeal first to the U.S. Court of Federal Claims. 
C)  There is no appeal. 
D)  He can appeal the case, but only if the amount of tax involved is greater than $5,000.

Question 19

Identify which of the following statements is false.

Accepted Answer

A)  Records of committee hearings are helpful in determining Congressional intent. 
B)  Members from both the House and the Senate are on the Conference Committee. 
C)  When tax advisors speak of the "tax law," they usually have in mind just the Internal Revenue Code. 
D)  All of the above are false. 
A)  Records of committee hearings are helpful in determining Congressional intent. 
B)  Members from both the House and the Senate are on the Conference Committee. 
C)  When tax advisors speak of the "tax law," they usually have in mind just the Internal Revenue Code. 
D)  All of the above are false.

Question 20

The tax statutes with the popular name "The Internal Revenue Code of 1986" are contained in which Title of the Code?

Accepted Answer

A)  26 
B)  20 
C)  301 
D)  25 
A)  26 
B)  20 
C)  301 
D)  25

Final regulations have almost the same legislative weight as the IRC.

A citator enables tax researchers to locate authorities (e.g., cases and IRS pronouncements) that have cited a particular case.

Internet versions of topical tax services include

Compare and contrast "interpretative" and "statutory" regulations.

Regulations are

A tax bill introduced in the House of Representatives is then

You need to locate a recent tax case that was tried in a Federal district court. The decision is an "unreported" decision. This means the decision was

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

A jury trial is permitted in the

Identify which of the following statements is true.

A tax case cannot be appealed when initiated in the

Which of the following best describes the weight of a revenue ruling?

What are some of the factors to consider when deciding in which court to file a tax- related claim?

Investigation of a tax problem that involves a closed- fact situation means that

Which regulation deals with Code Section 165?

Explain how committee reports can be used in tax research. What do they indicate?

George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court. He would like to appeal the decision. Which one of the following is true?

Identify which of the following statements is false.

The tax statutes with the popular name "The Internal Revenue Code of 1986" are contained in which Title of the Code?

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

Tax Deductions and Travel Expenses for Employees and Self-Employed Individuals

Filters

Exam 1: Tax Research

Final regulations have almost the same legislative weight as the IRC.

A citator enables tax researchers to locate authorities (e.g., cases and IRS pronouncements) that have cited a particular case.

Internet versions of topical tax services include

Compare and contrast "interpretative" and "statutory" regulations.

Regulations are

A tax bill introduced in the House of Representatives is then

You need to locate a recent tax case that was tried in a Federal district court. The decision is an "unreported" decision. This means the decision was

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

A jury trial is permitted in the

Identify which of the following statements is true.

A tax case cannot be appealed when initiated in the

Which of the following best describes the weight of a revenue ruling?

What are some of the factors to consider when deciding in which court to file a tax- related claim?

Investigation of a tax problem that involves a closed- fact situation means that

Which regulation deals with Code Section 165?

Explain how committee reports can be used in tax research. What do they indicate?

George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court. He would like to appeal the decision. Which one of the following is true?

Identify which of the following statements is false.

The tax statutes with the popular name "The Internal Revenue Code of 1986" are contained in which Title of the Code?

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

Tax Deductions and Travel Expenses for Employees and Self-Employed Individuals

Filters