Question 1

If the U.S. Supreme Court decides to hear an appeal of a tax case, it will grant a

Accepted Answer

A) writ of appeal. 
B) writ of certiorari. 
C) writ of detainer. 
D) writ of habeas corpus. 
A) writ of appeal. 
B) writ of certiorari. 
C) writ of detainer. 
D) writ of habeas corpus.

Question 2

In all situations, tax considerations are of primary importance. Do you agree or disagree? Support your answer.

Accepted Answer

It is important to consider nontax objec

Question 3

Which tax service is usually deemed to be the most authoritative?

Accepted Answer

A) United States Tax Reporter 
B) Standard Federal Tax Reporter 
C) Federal Tax Coordinator 2d 
D) All are equally authoritative. 
A) United States Tax Reporter 
B) Standard Federal Tax Reporter 
C) Federal Tax Coordinator 2d 
D) All are equally authoritative.

Question 4

The taxpayer need not pay the disputed tax in advance when the suit is initiated in

Accepted Answer

A) U)S. Court of Federal Claims. 
B) U)S. Tax Court. 
C) U)S. District Court. 
D) both A and B. 
A) U)S. Court of Federal Claims. 
B) U)S. Tax Court. 
C) U)S. District Court. 
D) both A and B.

Question 5

Tax Court memorandum decisions

Accepted Answer

A) cannot be appealed. 
B) are not published. 
C) have less precedential value than regular decisions. 
D) usually deal with factual variations of issues litigated previously. 
A) cannot be appealed. 
B) are not published. 
C) have less precedential value than regular decisions. 
D) usually deal with factual variations of issues litigated previously.

Question 6

Statements on Standards for Tax Services are issued by

Accepted Answer

A) the SEC. 
B) the IRS. 
C) the AICPA. 
D) the FASB. 
A) the SEC. 
B) the IRS. 
C) the AICPA. 
D) the FASB.

Question 7

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

Accepted Answer

Both types of regulations are issued by

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

Assume that you want to read a description of a particular area of the law, along with one or more illustrations of how that law is applied. You will not find that type of material in

Accepted Answer

A) a citator. 
B) the Treasury Regulations. 
C) the Cumulative Bulletin. 
D) the Committee Reports. 
A) a citator. 
B) the Treasury Regulations. 
C) the Cumulative Bulletin. 
D) the Committee Reports.

Question 10

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

Accepted Answer

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

Question 11

Tax compliance is the biggest component of a tax practice.

Accepted Answer

A) True 
 B)False

Question 12

The phrase "Entered under Rule 155" indicates that

Accepted Answer

A) the computation of the exact amount of the tax deficiency has been left to the litigating parties. 
B) the court has not reached a decision concerning the appropriate tax treatment of an issue. 
C) the parties have agreed not to appeal the decision. 
D) only one Tax Court judge reviewed the case. 
A) the computation of the exact amount of the tax deficiency has been left to the litigating parties. 
B) the court has not reached a decision concerning the appropriate tax treatment of an issue. 
C) the parties have agreed not to appeal the decision. 
D) only one Tax Court judge reviewed the case.

Question 13

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari. The Supreme Court decides whether or not they will hear the case.

Accepted Answer

A) True 
 B)False

Question 14

You have the following citation: Joel Munro, 92 T.C. 71 (1989). Which of the following statements is true?

Accepted Answer

A) The taxpayer, Joel Munro, won the case because there is no reference to the IRS. 
B) The case appears on page 71 in Volume 92 of the official Tax Court of the United States Reports and the case was decided in 1989. 
C) This citation refers to a taxpayer conference between the IRS and the taxpayer. 
D) The case was tried in 1989 and was appealed in 1992. 
A) The taxpayer, Joel Munro, won the case because there is no reference to the IRS. 
B) The case appears on page 71 in Volume 92 of the official Tax Court of the United States Reports and the case was decided in 1989. 
C) This citation refers to a taxpayer conference between the IRS and the taxpayer. 
D) The case was tried in 1989 and was appealed in 1992.

Question 15

Which regulation deals with the gift tax?

Accepted Answer

A) Reg. Sec. 1.165-5 
B) Reg. Sec. 20.2014-5 
C) Reg. Sec. 25.2518-5 
D) Reg. Sec. 301.7002-5 
A) Reg. Sec. 1.165-5 
B) Reg. Sec. 20.2014-5 
C) Reg. Sec. 25.2518-5 
D) Reg. Sec. 301.7002-5

Question 16

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 17

Which of the following citations denotes a regular decision of the Tax Court?

Accepted Answer

A) 41 TCM 1272 
B) 35 T.C. 1083 (2003) 
C) 39 AFTR 2d 77-640 
D) all of the above 
A) 41 TCM 1272 
B) 35 T.C. 1083 (2003) 
C) 39 AFTR 2d 77-640 
D) all of the above

Question 18

Identify which of the following statements is false.

Accepted Answer

A) The acquiescence policy was adopted by the U.S. Tax Court to permit litigating parties to agree on the exact amount of the tax due. 
B) Letter rulings are binding only with respect to the taxpayer requesting the ruling. 
C) The small cases procedure of the U.S. Tax Court allows a less formal hearing but provides for no appeal. 
D) The IRS may retroactively revoke an acquiescence. 
A) The acquiescence policy was adopted by the U.S. Tax Court to permit litigating parties to agree on the exact amount of the tax due. 
B) Letter rulings are binding only with respect to the taxpayer requesting the ruling. 
C) The small cases procedure of the U.S. Tax Court allows a less formal hearing but provides for no appeal. 
D) The IRS may retroactively revoke an acquiescence.

Question 19

Which of the following documents is issued by the IRS to a specific taxpayer?

Accepted Answer

A) regulation 
B) revenue procedure 
C) letter ruling 
D) information release 
A) regulation 
B) revenue procedure 
C) letter ruling 
D) information release

Question 20

Distinguish between an annotated tax service and a topical tax service.

Accepted Answer

An annotated tax service is organized by

If the U.S. Supreme Court decides to hear an appeal of a tax case, it will grant a

In all situations, tax considerations are of primary importance. Do you agree or disagree? Support your answer.

Which tax service is usually deemed to be the most authoritative?

The taxpayer need not pay the disputed tax in advance when the suit is initiated in

Tax Court memorandum decisions

Statements on Standards for Tax Services are issued by

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

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

Assume that you want to read a description of a particular area of the law, along with one or more illustrations of how that law is applied. You will not find that type of material in

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

Tax compliance is the biggest component of a tax practice.

The phrase "Entered under Rule 155" indicates that

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari. The Supreme Court decides whether or not they will hear the case.

You have the following citation: Joel Munro, 92 T.C. 71 (1989). Which of the following statements is true?

Which regulation deals with the gift tax?

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

Which of the following citations denotes a regular decision of the Tax Court?

Identify which of the following statements is false.

Which of the following documents is issued by the IRS to a specific taxpayer?

Distinguish between an annotated tax service and a topical tax service.

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

Us Taxation of Foreign-Related Transactions

Filters

Exam 1: Tax Research

If the U.S. Supreme Court decides to hear an appeal of a tax case, it will grant a

In all situations, tax considerations are of primary importance. Do you agree or disagree? Support your answer.

Which tax service is usually deemed to be the most authoritative?

The taxpayer need not pay the disputed tax in advance when the suit is initiated in

Tax Court memorandum decisions

Statements on Standards for Tax Services are issued by

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

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

Assume that you want to read a description of a particular area of the law, along with one or more illustrations of how that law is applied. You will not find that type of material in

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

Tax compliance is the biggest component of a tax practice.

The phrase "Entered under Rule 155" indicates that

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari. The Supreme Court decides whether or not they will hear the case.

You have the following citation: Joel Munro, 92 T.C. 71 (1989). Which of the following statements is true?

Which regulation deals with the gift tax?

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

Which of the following citations denotes a regular decision of the Tax Court?

Identify which of the following statements is false.

Which of the following documents is issued by the IRS to a specific taxpayer?

Distinguish between an annotated tax service and a topical tax service.

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

Us Taxation of Foreign-Related Transactions

Filters