Question 1

Step five of the tax research process:

Accepted Answer

A)  Is typically performed only by novice researchers. 
B)  Is required only if the researcher has made a careless mistake in a previous step. 
C)  Should only be taken once. 
D)  Is necessary when the researcher determines that additional facts are needed to complete the analysis of the transaction. 
A)  Is typically performed only by novice researchers. 
B)  Is required only if the researcher has made a careless mistake in a previous step. 
C)  Should only be taken once. 
D)  Is necessary when the researcher determines that additional facts are needed to complete the analysis of the transaction.

Question 2

Tax services are typically organized either topically or by Code section.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following is not one of the three sources of authority that comprise the federal tax law?

Accepted Answer

A)  Statutory authority 
B)  Secondary authority 
C)  Administrative authority 
D)  Judicial authority 
A)  Statutory authority 
B)  Secondary authority 
C)  Administrative authority 
D)  Judicial authority

Question 4

When the Supreme Court denies certiorari, the decision of the appellate court is final.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Editorial explanations provided by electronic tax services are examples of secondary authority.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is not a primary authority on which to base research conclusions?

Accepted Answer

A)  Journal of Taxation article written by a professor. 
B)  Revenue ruling. 
C)  U.S. Tax Court decision. 
D)  U.S. Supreme Court decision. 
A)  Journal of Taxation article written by a professor. 
B)  Revenue ruling. 
C)  U.S. Tax Court decision. 
D)  U.S. Supreme Court decision.

Question 8

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 these choices 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 these choices are proper forms for citing a Revenue Ruling

Question 9

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 10

Which of the following is not administrative authority?

Accepted Answer

A)  The Internal Revenue Code 
B)  Treasury regulations 
C)  Revenue rulings 
D)  Revenue procedures 
A)  The Internal Revenue Code 
B)  Treasury regulations 
C)  Revenue rulings 
D)  Revenue procedures

Question 11

Effective tax research often omits the first two steps of the tax research process.

Accepted Answer

A) True 
 B)False

Question 12

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 13

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 14

Which of the following is a primary authority on which to base research conclusions?

Accepted Answer

A)  Textbook used in this class 
B)  An editorial explanation in a commercial tax service 
C)  A Treasury regulation 
D)  A treatise written by a tax attorney and published in a legal journal 
A)  Textbook used in this class 
B)  An editorial explanation in a commercial tax service 
C)  A Treasury regulation 
D)  A treatise written by a tax attorney and published in a legal journal

Question 15

Which of the following is not a primary authority on which to base tax research conclusions?

Accepted Answer

A)  U.S. District Court decision 
B)  Editorial in the Wall Street Journal 
C)  U.S. Court of Federal Claims decision 
D)  Revenue procedure 
A)  U.S. District Court decision 
B)  Editorial in the Wall Street Journal 
C)  U.S. Court of Federal Claims decision 
D)  Revenue procedure

Question 16

Which of the following is not a secondary authority?

Accepted Answer

A)  Tax Court Memorandum decision 
B)  BNA Tax Management Portfolio 
C)  United States Tax Reporter 
D)  All of these choices are secondary authorities 
A)  Tax Court Memorandum decision 
B)  BNA Tax Management Portfolio 
C)  United States Tax Reporter 
D)  All of these choices are secondary authorities

Question 17

Locate the revenue procedure that includes the inflation-adjusted individual tax rate schedules for 2020. This revenue procedure usually is released in the fourth quarter of the previous year. Provide a complete citation for your source.

Accepted Answer

Rev. Proc.

Question 18

What is the first step in the tax research process?

Accepted Answer

A)  Discover all the facts relevant to the taxpayer's transaction. 
B)  Decide which tax library to use. 
C)  Decide whether to read primary or secondary authority. 
D)  Formulate a precise research question. 
A)  Discover all the facts relevant to the taxpayer's transaction. 
B)  Decide which tax library to use. 
C)  Decide whether to read primary or secondary authority. 
D)  Formulate a precise research question.

Question 19

Professional tax research conclusions should always be based on relevant secondary authority.

Accepted Answer

A) True 
 B)False

Question 20

The final step in the tax research process is to document and communicate research conclusions.

Accepted Answer

A) True 
 B)False

Step five of the tax research process:

Tax services are typically organized either topically or by Code section.

Which of the following is not one of the three sources of authority that comprise the federal tax law?

When the Supreme Court denies certiorari, the decision of the appellate court is final.

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

Editorial explanations provided by electronic tax services are examples of secondary authority.

Which of the following is not a primary authority on which to base research conclusions?

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

A citator:

Which of the following is not administrative authority?

Effective tax research often omits the first two steps of the tax research process.

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?

In locating relevant authorities:

Which of the following is a primary authority on which to base research conclusions?

Which of the following is not a primary authority on which to base tax research conclusions?

Which of the following is not a secondary authority?

Locate the revenue procedure that includes the inflation-adjusted individual tax rate schedules for 2020. This revenue procedure usually is released in the fourth quarter of the previous year. Provide a complete citation for your source.

What is the first step in the tax research process?

Professional tax research conclusions should always be based on relevant secondary authority.

The final step in the tax research process is to document and communicate research conclusions.

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

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Exam 5: Tax Research

Step five of the tax research process:

Tax services are typically organized either topically or by Code section.

Which of the following is not one of the three sources of authority that comprise the federal tax law?

When the Supreme Court denies certiorari, the decision of the appellate court is final.

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

Editorial explanations provided by electronic tax services are examples of secondary authority.

Which of the following is not a primary authority on which to base research conclusions?

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

A citator:

Which of the following is not administrative authority?

Effective tax research often omits the first two steps of the tax research process.

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?

In locating relevant authorities:

Which of the following is a primary authority on which to base research conclusions?

Which of the following is not a primary authority on which to base tax research conclusions?

Which of the following is not a secondary authority?

Locate the revenue procedure that includes the inflation-adjusted individual tax rate schedules for 2020. This revenue procedure usually is released in the fourth quarter of the previous year. Provide a complete citation for your source.

What is the first step in the tax research process?

Professional tax research conclusions should always be based on relevant secondary authority.

The final step in the tax research process is to document and communicate research conclusions.

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