Question 1

Which of the following is not an administrative source of tax law?

Accepted Answer

A) Field Service Advice 
B) Revenue Procedure 
C) Technical Advice Memoranda 
D) General Counsel Memorandum 
E) All of these are administrative sources. 
A) Field Service Advice 
B) Revenue Procedure 
C) Technical Advice Memoranda 
D) General Counsel Memorandum 
E) All of these are administrative sources.

Question 2

Memorandum decision of the U.S.Tax Court could be cited as:

Accepted Answer

A) T.C.Memo.1990-650. 
B) 68-1 USTC ¶9200. 
C) 37 AFTR.2d 456. 
D) All of the above. 
E) None of these. 
A) T.C.Memo.1990-650. 
B) 68-1 USTC ¶9200. 
C) 37 AFTR.2d 456. 
D) All of the above. 
E) None of these.

Question 3

Deferring income to a subsequent year is considered to be tax avoidance.

Accepted Answer

A) True 
 B)False

Question 4

Which Regulations have the force and effect of law?

Accepted Answer

A) Procedural Regulations 
B) Finalized Regulations 
C) Legislative Regulations 
D) Interpretive Regulations 
E) All of these 
A) Procedural Regulations 
B) Finalized Regulations 
C) Legislative Regulations 
D) Interpretive Regulations 
E) All of these

Question 5

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016).The Internal Revenue Code section controls.

Accepted Answer

A) True 
 B)False

Question 6

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases

Question 7

The first codification of the tax law occurred in 1954.

Accepted Answer

A) True 
 B)False

Question 8

Which citation refers to a U.S.Tax Court decision?

Accepted Answer

A) Apollo Computer, Inc.v.U.S., 95-1 (USTC ¶50,015 (Fed.Cl., 1994) 
B) Westreco, Inc., T.C.Memo.1992-561 (1992). 
C) Bausch & Lomb, Inc.v.Comm., 933 F.2d 1084 (CA-2, 1991). 
D) Portland Manufacturing Co.v.Comm., 35 AFTR2d 1439 (CA-9, 1975). 
E) None of these. 
A) Apollo Computer, Inc.v.U.S., 95-1 (USTC ¶50,015 (Fed.Cl., 1994) 
B) Westreco, Inc., T.C.Memo.1992-561 (1992). 
C) Bausch & Lomb, Inc.v.Comm., 933 F.2d 1084 (CA-2, 1991). 
D) Portland Manufacturing Co.v.Comm., 35 AFTR2d 1439 (CA-9, 1975). 
E) None of these.

Question 9

Which citation refers to a Second Circuit Court of Appeals decision?

Accepted Answer

A) 40 T.C.1018. 
B) 159 F.2d 848 (CA-2, 1947). 
C) 354 F.Supp.1003 (D.Ct.GA.1972). 
D) 914 F.2d 396 (CA-3, 1990). 
E) None of these. 
A) 40 T.C.1018. 
B) 159 F.2d 848 (CA-2, 1947). 
C) 354 F.Supp.1003 (D.Ct.GA.1972). 
D) 914 F.2d 396 (CA-3, 1990). 
E) None of these.

Question 10

Subtitle A of the Internal Revenue Code covers which of the following taxes?

Accepted Answer

A) Income taxes 
B) Estate and gift taxes 
C) Excise taxes 
D) Employment taxes 
E) All of these 
A) Income taxes 
B) Estate and gift taxes 
C) Excise taxes 
D) Employment taxes 
E) All of these

Question 11

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following sources has the highest tax validity?

Accepted Answer

A) Revenue Ruling 
B) Revenue Procedure 
C) Regulations 
D) Internal Revenue Code section 
E) None of these 
A) Revenue Ruling 
B) Revenue Procedure 
C) Regulations 
D) Internal Revenue Code section 
E) None of these

Question 13

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Accepted Answer

A) True 
 B)False

Question 14

This Internal Revenue Code section citation is incorrect: § 212(1).

Accepted Answer

A) True 
 B)False

Question 15

A taxpayer may not appeal a case from which court:

Accepted Answer

A) U.S.District Court. 
B) U.S.Circuit Court of Appeals. 
C) U.S.Court of Federal Claims. 
D) Small Case Division of the U.S.Tax Court. 
E) None of these. 
A) U.S.District Court. 
B) U.S.Circuit Court of Appeals. 
C) U.S.Court of Federal Claims. 
D) Small Case Division of the U.S.Tax Court. 
E) None of these.

Question 16

What statement is not true with respect to Temporary Regulations?

Accepted Answer

A) May not be cited as precedent. 
B) Issued with Proposed Regulations. 
C) Automatically expire within three years after the date of issuance. 
D) Found in the Federal Register. 
E) All of these statements are true. 
A) May not be cited as precedent. 
B) Issued with Proposed Regulations. 
C) Automatically expire within three years after the date of issuance. 
D) Found in the Federal Register. 
E) All of these statements are true.

Question 17

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 18

Which publisher offers the Standard Federal Tax Reporter?

Accepted Answer

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

Question 19

A Revenue Ruling is a judicial source of Federal tax law.

Accepted Answer

A) True 
 B)False

Question 20

Federal tax legislation generally originates in which of the following?

Accepted Answer

A) Internal Revenue Service 
B) Senate Finance Committee 
C) House Ways and Means Committee 
D) Senate Floor 
E) None of these 
A) Internal Revenue Service 
B) Senate Finance Committee 
C) House Ways and Means Committee 
D) Senate Floor 
E) None of these

Which of the following is not an administrative source of tax law?

Memorandum decision of the U.S.Tax Court could be cited as:

Deferring income to a subsequent year is considered to be tax avoidance.

Which Regulations have the force and effect of law?

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016).The Internal Revenue Code section controls.

What is a Technical Advice Memorandum?

The first codification of the tax law occurred in 1954.

Which citation refers to a U.S.Tax Court decision?

Which citation refers to a Second Circuit Court of Appeals decision?

Subtitle A of the Internal Revenue Code covers which of the following taxes?

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Which of the following sources has the highest tax validity?

Revenue Procedures deal with the internal management practices and procedures of the IRS.

This Internal Revenue Code section citation is incorrect: § 212(1).

A taxpayer may not appeal a case from which court:

What statement is not true with respect to Temporary Regulations?

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Which publisher offers the Standard Federal Tax Reporter?

A Revenue Ruling is a judicial source of Federal tax law.

Federal tax legislation generally originates in which of the following?

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

Which of the following is not an administrative source of tax law?

Memorandum decision of the U.S.Tax Court could be cited as:

Deferring income to a subsequent year is considered to be tax avoidance.

Which Regulations have the force and effect of law?

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016).The Internal Revenue Code section controls.

What is a Technical Advice Memorandum?

The first codification of the tax law occurred in 1954.

Which citation refers to a U.S.Tax Court decision?

Which citation refers to a Second Circuit Court of Appeals decision?

Subtitle A of the Internal Revenue Code covers which of the following taxes?

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Which of the following sources has the highest tax validity?

Revenue Procedures deal with the internal management practices and procedures of the IRS.

This Internal Revenue Code section citation is incorrect: § 212(1).

A taxpayer may not appeal a case from which court:

What statement is not true with respect to Temporary Regulations?

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Which publisher offers the Standard Federal Tax Reporter?

A Revenue Ruling is a judicial source of Federal tax law.

Federal tax legislation generally originates in which of the following?

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