Question 1

If a trial court decision has been appealed and the appellate court reversed the trial court's decision,the trial court decision is considered authoritative.

Accepted Answer

A) True 
 B)False  False

Question 2

A single tax issue may result in multiple research questions.

Accepted Answer

A) True 
 B)False  True

Question 3

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. B

Question 4

Which of the following is not a primary authority?

Accepted Answer

A) Internal Revenue Code 
B) Treasury regulations 
C) Revenue Procedure 
D) Tax textbook 
A) Internal Revenue Code 
B) Treasury regulations 
C) Revenue Procedure 
D) Tax textbook

Question 5

A keyword search in an electronic tax service:

Accepted Answer

A) Allows the researcher to combine words and phrases to define the search. 
B) Is identical to using the topical index in a paper service. 
C) Is not an efficient way to conduct tax research. 
D) Cannot be restricted to only a part or portion of the data base. 
A) Allows the researcher to combine words and phrases to define the search. 
B) Is identical to using the topical index in a paper service. 
C) Is not an efficient way to conduct tax research. 
D) Cannot be restricted to only a part or portion of the data base.

Question 6

The results of the tax research process should be documented in either a research memo or in a letter to the client.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following statements regarding documentation of research conclusions is false?

Accepted Answer

A) A research memorandum is a permanent record of the research process. 
B) A researcher communicates his or her conclusions to the client in a letter containing information similar to that in the research memorandum. 
C) Technical references are generally inappropriate in a client letter. 
D) A research memorandum contains only research conclusions and not a detailed analysis of legal authorities supporting those conclusions. 
A) A research memorandum is a permanent record of the research process. 
B) A researcher communicates his or her conclusions to the client in a letter containing information similar to that in the research memorandum. 
C) Technical references are generally inappropriate in a client letter. 
D) A research memorandum contains only research conclusions and not a detailed analysis of legal authorities supporting those conclusions.

Question 8

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

Question 9

Which of the following statements regarding secondary authorities is true?

Accepted Answer

A) Most secondary authorities are published by the federal government. 
B) Secondary authorities should never be cited as the authority for final research conclusions. 
C) Secondary authorities should always cite primary authority to support conclusions about the application of the tax law. 
D) None of the above statements is true 
A) Most secondary authorities are published by the federal government. 
B) Secondary authorities should never be cited as the authority for final research conclusions. 
C) Secondary authorities should always cite primary authority to support conclusions about the application of the tax law. 
D) None of the above statements is true

Question 10

In the citation Rev.Proc.2002-32,2002-1 C.B.959,the abbreviation C.B.refers to Congressional Bulletin.

Accepted Answer

A) True 
 B)False

Question 11

Secondary authorities explain and interpret the tax law in language often easier to understand than that of primary authorities.

Accepted Answer

A) True 
 B)False

Question 12

Locate the revenue procedure that includes the inflation-adjusted individual tax rate schedules for 2017.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.2

Question 13

The topical index of a commercial tax service is considered primary authority.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is not one of the six steps in the tax research process?

Accepted Answer

A) Understand the client's transaction and ascertain the facts. 
B) Locate relevant tax law authority. 
C) Analyze relevant authority and answer the research questions. 
D) All of the above are steps in the tax research process. 
A) Understand the client's transaction and ascertain the facts. 
B) Locate relevant tax law authority. 
C) Analyze relevant authority and answer the research questions. 
D) All of the above are steps in the tax research process.

Question 15

Private letter rulings and technical advice memoranda are primary authority for those taxpayers to whom they were issued.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) This textbook 
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) This textbook 
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 17

Revenue rulings are an example of administrative authority.

Accepted Answer

A) True 
 B)False

Question 18

The first step in the tax research process is to locate relevant tax law authority.

Accepted Answer

A) True 
 B)False

Question 19

When performing step three of the tax research process:

Accepted Answer

A) A commercial tax service may provide an excellent starting point. 
B) The researcher must discover all the facts concerning the client's transaction. 
C) The researcher must communicate his or her conclusions to the client. 
D) The researcher should always consult primary authorities first before turning to secondary authorities for guidance. 
A) A commercial tax service may provide an excellent starting point. 
B) The researcher must discover all the facts concerning the client's transaction. 
C) The researcher must communicate his or her conclusions to the client. 
D) The researcher should always consult primary authorities first before turning to secondary authorities for guidance.

Question 20

A revenue ruling cannot be relied on as authority by any taxpayer other than the taxpayer for whom the ruling was issued.

Accepted Answer

A) True 
 B)False

If a trial court decision has been appealed and the appellate court reversed the trial court's decision,the trial court decision is considered authoritative.

A single tax issue may result in multiple research questions.

A citator:

Which of the following is not a primary authority?

A keyword search in an electronic tax service:

The results of the tax research process should be documented in either a research memo or in a letter to the client.

Which of the following statements regarding documentation of research conclusions is false?

Which of the following is not a secondary authority?

Which of the following statements regarding secondary authorities is true?

In the citation Rev.Proc.2002-32,2002-1 C.B.959,the abbreviation C.B.refers to Congressional Bulletin.

Secondary authorities explain and interpret the tax law in language often easier to understand than that of primary authorities.

Locate the revenue procedure that includes the inflation-adjusted individual tax rate schedules for 2017.This revenue procedure usually is released in the fourth quarter of the previous year.Provide a complete citation for your source.

The topical index of a commercial tax service is considered primary authority.

Which of the following is not one of the six steps in the tax research process?

Private letter rulings and technical advice memoranda are primary authority for those taxpayers to whom they were issued.

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

Revenue rulings are an example of administrative authority.

The first step in the tax research process is to locate relevant tax law authority.

When performing step three of the tax research process:

A revenue ruling cannot be relied on as authority by any taxpayer other than the taxpayer for whom the ruling was issued.

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

Exam 5: Tax Research

If a trial court decision has been appealed and the appellate court reversed the trial court's decision,the trial court decision is considered authoritative.

A single tax issue may result in multiple research questions.

A citator:

Which of the following is not a primary authority?

A keyword search in an electronic tax service:

The results of the tax research process should be documented in either a research memo or in a letter to the client.

Which of the following statements regarding documentation of research conclusions is false?

Which of the following is not a secondary authority?

Which of the following statements regarding secondary authorities is true?

In the citation Rev.Proc.2002-32,2002-1 C.B.959,the abbreviation C.B.refers to Congressional Bulletin.

Secondary authorities explain and interpret the tax law in language often easier to understand than that of primary authorities.

Locate the revenue procedure that includes the inflation-adjusted individual tax rate schedules for 2017.This revenue procedure usually is released in the fourth quarter of the previous year.Provide a complete citation for your source.

The topical index of a commercial tax service is considered primary authority.

Which of the following is not one of the six steps in the tax research process?

Private letter rulings and technical advice memoranda are primary authority for those taxpayers to whom they were issued.

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

Revenue rulings are an example of administrative authority.

The first step in the tax research process is to locate relevant tax law authority.

When performing step three of the tax research process:

A revenue ruling cannot be relied on as authority by any taxpayer other than the taxpayer for whom the ruling was issued.

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