Question 1

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 2

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 3

When analyzing relevant legal authority:

Accepted Answer

A) The researcher is finished only when an unambiguous answer to the research question has been located. 
B) Different sources of authority may provide conflicting answers. 
C) Interpretation and judgment on the part of the researcher is rarely required. 
D) The researcher should never give an unqualified answer to any research question. 
A) The researcher is finished only when an unambiguous answer to the research question has been located. 
B) Different sources of authority may provide conflicting answers. 
C) Interpretation and judgment on the part of the researcher is rarely required. 
D) The researcher should never give an unqualified answer to any research question.

Question 4

Which of the following is not a proper citation to a Treasury regulation?

Accepted Answer

A) Reg.Sec.1.61-1(a) 
B) Reg.1.61-1(a) 
C) Reg.§1.61-1(a) 
D) Treasury Regulation 61-1(a) 
A) Reg.Sec.1.61-1(a) 
B) Reg.1.61-1(a) 
C) Reg.§1.61-1(a) 
D) Treasury Regulation 61-1(a)

Question 5

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 6

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

Accepted Answer

A) True 
 B)False

Question 7

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 8

Tax judicial decisions each have a single, unique citation.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is not a proper citation to an Internal Revenue Code section?

Accepted Answer

A) IRC 1001 
B) Sec.1001 
C) Section 1001 
D) §1001 
A) IRC 1001 
B) Sec.1001 
C) Section 1001 
D) §1001

Question 10

Which of the following is not generally included in a tax research memorandum?

Accepted Answer

A) A statement of the pertinent facts 
B) An analysis of the relevant sources of authority 
C) The details of any advice given to the client as part of the research engagement 
D) A bill for fees charged to the client for the research engagement 
A) A statement of the pertinent facts 
B) An analysis of the relevant sources of authority 
C) The details of any advice given to the client as part of the research engagement 
D) A bill for fees charged to the client for the research engagement

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

When performing step one of the tax research process:

Accepted Answer

A) The researcher generally can assume that the client's initial summary of the transaction is factually accurate and complete. 
B) The researcher must take into account the level of the client's tax knowledge. 
C) The client's motivation in undertaking the transaction is generally irrelevant. 
D) The researcher should presume that the client has some knowledge of the tax law. 
A) The researcher generally can assume that the client's initial summary of the transaction is factually accurate and complete. 
B) The researcher must take into account the level of the client's tax knowledge. 
C) The client's motivation in undertaking the transaction is generally irrelevant. 
D) The researcher should presume that the client has some knowledge of the tax law.

Question 13

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 the above 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 the above are proper forms for citing a Revenue Ruling

Question 14

Tax research typically occurs as part of the tax compliance process; it is rarely important in tax planning.

Accepted Answer

A) True 
 B)False

Question 15

Secondary authorities organize information about primary authorities in a manner that facilitates tax research.

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Using an electronic research database such as Checkpoint, CCH Tax Research NetWork, or Lexis-Nexis, perform a keyword search that includes the phrase business expense and the keyword charity. Include both primary sources and editorial materials in your search.
a. How many documents did your search retrieve?
b. How many documents are primary authorities and how many are secondary authorities?
c. Provide citations to two primary authorities and two secondary authorities.

Accepted Answer

The answers to this problem de

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

Which of the following is not a typical strategy for using a commercial tax service?

Accepted Answer

A) Using the topical index 
B) Using the table of contents 
C) In an electronic service, using a keyword search 
D) All of the above are typical strategies for using a commercial tax service. 
A) Using the topical index 
B) Using the table of contents 
C) In an electronic service, using a keyword search 
D) All of the above are typical strategies for using a commercial tax service.

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

Which of the following statements regarding secondary authorities is true?

A keyword search in an electronic tax service:

When analyzing relevant legal authority:

Which of the following is not a proper citation to a Treasury regulation?

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

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

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

Tax judicial decisions each have a single, unique citation.

Which of the following is not a proper citation to an Internal Revenue Code section?

Which of the following is not generally included in a tax research memorandum?

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

When performing step one of the tax research process:

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

Tax research typically occurs as part of the tax compliance process; it is rarely important in tax planning.

Secondary authorities organize information about primary authorities in a manner that facilitates tax research.

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

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

Which of the following is not a typical strategy for using a commercial tax service?

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 a Present Value of $1 B Present Value of Annuity of $1 C 2013 Income Tax Rates

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Exam 5: Tax Research

Which of the following statements regarding secondary authorities is true?

A keyword search in an electronic tax service:

When analyzing relevant legal authority:

Which of the following is not a proper citation to a Treasury regulation?

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

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

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

Tax judicial decisions each have a single, unique citation.

Which of the following is not a proper citation to an Internal Revenue Code section?

Which of the following is not generally included in a tax research memorandum?

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

When performing step one of the tax research process:

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

Tax research typically occurs as part of the tax compliance process; it is rarely important in tax planning.

Secondary authorities organize information about primary authorities in a manner that facilitates tax research.

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

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

Which of the following is not a typical strategy for using a commercial tax service?

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 a Present Value of $1 B Present Value of Annuity of $1 C 2013 Income Tax Rates

Filters