Question 1

A U.S.District Court is considered the lowest trial court.

Accepted Answer

A) True 
 B)False

Question 2

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 3

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.District
Court.

Accepted Answer

A) True 
 B)False

Question 4

Tax research involves which of the following procedures:

Accepted Answer

A) Identifying and refining the problem. 
B) Locating the appropriate tax law sources. 
C) Assessing the validity of the tax law sources. 
D) Follow-up. 
E) All of these. 
A) Identifying and refining the problem. 
B) Locating the appropriate tax law sources. 
C) Assessing the validity of the tax law sources. 
D) Follow-up. 
E) All of these.

Question 5

The petitioner refers to the party against whom a suit is brought.

Accepted Answer

A) True 
 B)False

Question 6

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 7

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme

Question 8

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties (some

Question 9

Which of the following statements about a nonacquiescence is correct?

Accepted Answer

A) A nonacquiescence is issued in the Federal Registrar. 
B) Nonacquiescences are published only for certain regular decisions of the U.S.Tax Court. 
C) A nonacquiescence in published in the Internal Revenue Bulletin. 
D) The IRS does not issue nonacquiescences to adverse decisions that are not appealed. 
E) All of these are correct. 
A) A nonacquiescence is issued in the Federal Registrar. 
B) Nonacquiescences are published only for certain regular decisions of the U.S.Tax Court. 
C) A nonacquiescence in published in the Internal Revenue Bulletin. 
D) The IRS does not issue nonacquiescences to adverse decisions that are not appealed. 
E) All of these are correct.

Question 10

Which of these is not a correct citation to the Internal Revenue Code?

Accepted Answer

A) Section 211 
B) Section 1222(1) 
C) Section 2(a)(1)(
A)  
D) Section 280B 
E) All of these are correct cites. 
A) Section 211 
B) Section 1222(1) 
C) Section 2(a)(1)(
A)  
D) Section 280B 
E) All of these are correct cites.

Question 11

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Question 12

Which statement is incorrect with respect to taxation on the CPA exam?

Accepted Answer

A) The CPA exam now has only four parts. 
B) There are no longer task-based simulations on the exam. 
C) A candidate may not go back after exiting a testlet. 
D) Simulations include a four-function pop-up calculator. 
E) None of these are incorrect. 
A) The CPA exam now has only four parts. 
B) There are no longer task-based simulations on the exam. 
C) A candidate may not go back after exiting a testlet. 
D) Simulations include a four-function pop-up calculator. 
E) None of these are incorrect.

Question 13

The U.S.Tax Court meets most often in Washington, D.C.

Accepted Answer

A) True 
 B)False

Question 14

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

Accepted Answer

A) True 
 B)False

Question 15

The term petitioner is a synonym for defendant.

Accepted Answer

A) True 
 B)False

Question 16

The Golsen rule has been overturned by the U.S.Supreme Court.

Accepted Answer

A) True 
 B)False

Question 17

Which is presently not a major tax service?

Accepted Answer

A) Standard Federal Tax Reporter 
B) Federal Taxes 
C) United States Tax Reporter 
D) Tax Management Portfolios 
E) All of these are major tax services 
A) Standard Federal Tax Reporter 
B) Federal Taxes 
C) United States Tax Reporter 
D) Tax Management Portfolios 
E) All of these are major tax services

Question 18

Which publisher offers the United States Tax Reporter?

Accepted Answer

A) Research Institute of America (Thomson Reuters) 
B) Commerce Clearing House 
C) LexisNexis 
D) Tax Analysts 
E) None of these 
A) Research Institute of America (Thomson Reuters) 
B) Commerce Clearing House 
C) LexisNexis 
D) Tax Analysts 
E) None of these

Question 19

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

Accepted Answer

The U.S.Tax Court hears only tax cases a

Question 20

The IRS is not required to make a letter ruling public.

Accepted Answer

A) True 
 B)False

A U.S.District Court is considered the lowest trial court.

Tax planning usually involves a completed transaction.

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.District Court.

Tax research involves which of the following procedures:

The petitioner refers to the party against whom a suit is brought.

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Compare Revenue Rulings with Revenue Procedures.

How do treaties fit within tax sources?

Which of the following statements about a nonacquiescence is correct?

Which of these is not a correct citation to the Internal Revenue Code?

Technical Advice Memoranda deal with completed transactions.

Which statement is incorrect with respect to taxation on the CPA exam?

The U.S.Tax Court meets most often in Washington, D.C.

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

The term petitioner is a synonym for defendant.

The Golsen rule has been overturned by the U.S.Supreme Court.

Which is presently not a major tax service?

Which publisher offers the United States Tax Reporter?

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

The IRS is not required to make a letter ruling public.

An Introduction to Taxation and Understanding the Federal Tax Law

Tax Formula and Tax Determination an Overview of Property Transactions

Gross Income: Concepts and Inclusions

Gross Income: Exclusions

Deductions and Losses: in General

Deductions and Losses: Certain Business Expenses and Losses

Depreciation, Cost Recovery, Amortization, and Depletion

Deductions: Employee and Self-Employed-Related Expenses

Deductions and Losses: Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basic Considerations

Property Transactions: Nontaxable Exchanges

Property Transactions: Capital Gains and Losses

Property Transactions: Section 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters

Exam 2: Working With the Tax Law

A U.S.District Court is considered the lowest trial court.

Tax planning usually involves a completed transaction.

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.District Court.

Tax research involves which of the following procedures:

The petitioner refers to the party against whom a suit is brought.

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Compare Revenue Rulings with Revenue Procedures.

How do treaties fit within tax sources?

Which of the following statements about a nonacquiescence is correct?

Which of these is not a correct citation to the Internal Revenue Code?

Technical Advice Memoranda deal with completed transactions.

Which statement is incorrect with respect to taxation on the CPA exam?

The U.S.Tax Court meets most often in Washington, D.C.

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

The term petitioner is a synonym for defendant.

The Golsen rule has been overturned by the U.S.Supreme Court.

Which is presently not a major tax service?

Which publisher offers the United States Tax Reporter?

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

The IRS is not required to make a letter ruling public.

An Introduction to Taxation and Understanding the Federal Tax Law

Tax Formula and Tax Determination an Overview of Property Transactions

Gross Income: Concepts and Inclusions

Gross Income: Exclusions

Deductions and Losses: in General

Deductions and Losses: Certain Business Expenses and Losses

Depreciation, Cost Recovery, Amortization, and Depletion

Deductions: Employee and Self-Employed-Related Expenses

Deductions and Losses: Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basic Considerations

Property Transactions: Nontaxable Exchanges

Property Transactions: Capital Gains and Losses

Property Transactions: Section 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters