Question 1

All of the following are goals of tax research EXCEPT:

Accepted Answer

A) to balance the need for efficiency against the need for thoroughness 
B) to balance the client's tax goals with the client's nontax, personal considerations 
C) to find a defensible solution to a client's problem 
D) to find a perfect solution to a client's problem, no matter how long it takes 
A) to balance the need for efficiency against the need for thoroughness 
B) to balance the client's tax goals with the client's nontax, personal considerations 
C) to find a defensible solution to a client's problem 
D) to find a perfect solution to a client's problem, no matter how long it takes

Question 2

Tax research has been described as an "iterative process." Explain what this means to the researcher and give an example of how this process might work with a hypothetical client.

Accepted Answer

The process of tax research is iterative

Question 3

All primary source material has the same precedential value.

Accepted Answer

A) True 
 B)False

Question 4

A tax researcher can rely on tax journals as substantial authority under Section 6662 of the Code.

Accepted Answer

A) True 
 B)False

Question 5

"Wildcards" such as an asterisk can be used to search for word variations in most tax services.

Accepted Answer

A) True 
 B)False

Question 6

The IRS website is a full-service, tax research resource.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements is INCORRECT regarding the CPA exam?

Accepted Answer

A) The National Association of State Boards of Accountancy administers the test. 
B) Each state has its own test. 
C) CPA exam candidates must pass all four sections of the exam. 
D) The Regulation section requires tax research. 
A) The National Association of State Boards of Accountancy administers the test. 
B) Each state has its own test. 
C) CPA exam candidates must pass all four sections of the exam. 
D) The Regulation section requires tax research.

Question 8

The Tax Management Portfolios are published by:

Accepted Answer

A) CCH 
B) RIA 
C) Bloomberg BNA Tax and Accounting 
D) LexisNexis 
A) CCH 
B) RIA 
C) Bloomberg BNA Tax and Accounting 
D) LexisNexis

Question 9

The IRS website can be used to perform which of the following tasks:

Accepted Answer

A) obtain downloadable forms 
B) keyword search IRS tax publications 
C) file your tax return 
D) all of these are correct 
A) obtain downloadable forms 
B) keyword search IRS tax publications 
C) file your tax return 
D) all of these are correct

Question 10

In a closed-fact problem, the main goal of tax research is to:

Accepted Answer

A) determine several alternative courses of future action for the taxpayer 
B) find support for an action the taxpayer has already taken 
C) determine several alternative courses of future action for the taxpayer and find support for an action the taxpayer has already taken 
D) none of these are correct 
A) determine several alternative courses of future action for the taxpayer 
B) find support for an action the taxpayer has already taken 
C) determine several alternative courses of future action for the taxpayer and find support for an action the taxpayer has already taken 
D) none of these are correct

Question 11

A statutory source of federal tax law is:

Accepted Answer

A) various rulings of the Treasury Department and the IRS 
B) collected rulings of the various courts on federal tax matters 
C) textbooks 
D) tax treaties 
A) various rulings of the Treasury Department and the IRS 
B) collected rulings of the various courts on federal tax matters 
C) textbooks 
D) tax treaties

Question 12

FindLaw includes links for federal and state laws and a searchable database of summaries of published opinions from selected federal and state courts back to 2000.

Accepted Answer

A) True 
 B)False

Question 13

List in sequential order the major steps involved in the tax research process.

Accepted Answer

The tax research process can be broken d

Question 14

The search "stock or securities" would find documents that contain both the term "stock" and the term "securities."

Accepted Answer

A) True 
 B)False

Question 15

If a computer search generates too much information, the search may use fewer libraries or more unique keywords.

Accepted Answer

A) True 
 B)False

Question 16

The final step of the tax research process is to:

Accepted Answer

A) develop conclusions and recommendations 
B) communicate recommendations 
C) document conclusions and recommendations 
D) litigate the tax-related dispute 
A) develop conclusions and recommendations 
B) communicate recommendations 
C) document conclusions and recommendations 
D) litigate the tax-related dispute

Question 17

Secondary sources are useful when:

Accepted Answer

A) conflicting primary authority exists 
B) the issue is a closed-fact problem 
C) a researcher does not have access to primary sources 
D) a researcher disagrees with the client 
A) conflicting primary authority exists 
B) the issue is a closed-fact problem 
C) a researcher does not have access to primary sources 
D) a researcher disagrees with the client

Question 18

The Tax Adviser journal is published by the AICPA.

Accepted Answer

A) True 
 B)False

Question 19

The power of Congress to implement and collect taxes is summarized in the Internal Revenue Code, the official title of U.S. tax law.

Accepted Answer

A) True 
 B)False

Question 20

Thomson Reuters Checkpoint is a web-based tax research service that contains research material on federal, state, local, and international taxation.

Accepted Answer

A) True 
 B)False

All of the following are goals of tax research EXCEPT:

Tax research has been described as an "iterative process." Explain what this means to the researcher and give an example of how this process might work with a hypothetical client.

All primary source material has the same precedential value.

A tax researcher can rely on tax journals as substantial authority under Section 6662 of the Code.

"Wildcards" such as an asterisk can be used to search for word variations in most tax services.

The IRS website is a full-service, tax research resource.

Which of the following statements is INCORRECT regarding the CPA exam?

The Tax Management Portfolios are published by:

The IRS website can be used to perform which of the following tasks:

In a closed-fact problem, the main goal of tax research is to:

A statutory source of federal tax law is:

FindLaw includes links for federal and state laws and a searchable database of summaries of published opinions from selected federal and state courts back to 2000.

List in sequential order the major steps involved in the tax research process.

The search "stock or securities" would find documents that contain both the term "stock" and the term "securities."

If a computer search generates too much information, the search may use fewer libraries or more unique keywords.

The final step of the tax research process is to:

Secondary sources are useful when:

The Tax Adviser journal is published by the AICPA.

The power of Congress to implement and collect taxes is summarized in the Internal Revenue Code, the official title of U.S. tax law.

Thomson Reuters Checkpoint is a web-based tax research service that contains research material on federal, state, local, and international taxation.

Introduction to Tax Practice and Ethics

Constitutional and Legislative Sources

Administrative Regulations and Rulings

Judicial Interpretations

Tax Services Ria Checkpoint

Tax Services CCH Intelliconnect

Tax Services Specialty and Others

Multijurisdictional and Other Research

Financial Accounting Research

Communicating Research Results

Tax Planning

Working With the IRS

Tax Practice and Administration: Sanctions, Agreements, and Disclosures

Filters

Exam 2: Tax Research Methodology

All of the following are goals of tax research EXCEPT:

Tax research has been described as an "iterative process." Explain what this means to the researcher and give an example of how this process might work with a hypothetical client.

All primary source material has the same precedential value.

A tax researcher can rely on tax journals as substantial authority under Section 6662 of the Code.

"Wildcards" such as an asterisk can be used to search for word variations in most tax services.

The IRS website is a full-service, tax research resource.

Which of the following statements is INCORRECT regarding the CPA exam?

The Tax Management Portfolios are published by:

The IRS website can be used to perform which of the following tasks:

In a closed-fact problem, the main goal of tax research is to:

A statutory source of federal tax law is:

FindLaw includes links for federal and state laws and a searchable database of summaries of published opinions from selected federal and state courts back to 2000.

List in sequential order the major steps involved in the tax research process.

The search "stock or securities" would find documents that contain both the term "stock" and the term "securities."

If a computer search generates too much information, the search may use fewer libraries or more unique keywords.

The final step of the tax research process is to:

Secondary sources are useful when:

The Tax Adviser journal is published by the AICPA.

The power of Congress to implement and collect taxes is summarized in the Internal Revenue Code, the official title of U.S. tax law.

Thomson Reuters Checkpoint is a web-based tax research service that contains research material on federal, state, local, and international taxation.

Introduction to Tax Practice and Ethics

Constitutional and Legislative Sources

Administrative Regulations and Rulings

Judicial Interpretations

Tax Services Ria Checkpoint

Tax Services CCH Intelliconnect

Tax Services Specialty and Others

Multijurisdictional and Other Research

Financial Accounting Research

Communicating Research Results

Tax Planning

Working With the IRS

Tax Practice and Administration: Sanctions, Agreements, and Disclosures

Filters