Question 1

The Internal Revenue Code is the primary source of statutory authority for federal income tax law.

Accepted Answer

A) True 
 B)False  True

Question 2

Which of the following is not a primary authority?

Accepted Answer

A)  Section 465 of the Internal Revenue Code 
B)  Munro v. Comm., 267 F.3d 1918 (CA-8, 2004) 
C)  CCH Master Tax Guide 
D)  All of the above are primary authorities. 
A)  Section 465 of the Internal Revenue Code 
B)  Munro v. Comm., 267 F.3d 1918 (CA-8, 2004) 
C)  CCH Master Tax Guide 
D)  All of the above are primary authorities. C

Question 3

In the citation Rev. Proc. 2002-32, 2002-1

Accepted Answer

A) True 
 B)False  False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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 6

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, 2004-1C.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, 2004-1C.B. 628 
D)  All of the above are proper forms for citing a Revenue Ruling

Question 7

Locate the revenue procedure that includes the inflation-adjusted individual tax rate schedules for 2015. 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 8

A taxpayer who loses a case in the U.S. Tax Court may appeal the case directly to the U.S. Supreme Court.

Accepted Answer

A) True 
 B)False

Question 9

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 10

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

Accepted Answer

A)  Identify the tax issues, problems, or opportunities suggested by the facts and formulate specific research questions. 
B)  Consult a commercial tax service to identify potential legal authorities. 
C)  Analyze relevant authority and answer the research questions. 
D)  Document your research and communicate your conclusions. 
A)  Identify the tax issues, problems, or opportunities suggested by the facts and formulate specific research questions. 
B)  Consult a commercial tax service to identify potential legal authorities. 
C)  Analyze relevant authority and answer the research questions. 
D)  Document your research and communicate your conclusions.

Question 11

Revenue procedures are a type of secondary authority.

Accepted Answer

A) True 
 B)False

Question 12

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 13

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 14

Which of the following statements does not accurately describe the tax research process?

Accepted Answer

A)  A researcher may begin with any of the six steps in the process. 
B)  The process is not linear because the researcher may have to repeat one or more of the steps before concluding the research. 
C)  If a set of facts suggests multiple research questions, the researcher must decide on the order in which the questions should be answered. 
D)  The last step in the process requires preparation of a written summary that communicates the researcher's conclusions. 
A)  A researcher may begin with any of the six steps in the process. 
B)  The process is not linear because the researcher may have to repeat one or more of the steps before concluding the research. 
C)  If a set of facts suggests multiple research questions, the researcher must decide on the order in which the questions should be answered. 
D)  The last step in the process requires preparation of a written summary that communicates the researcher's conclusions.

Question 15

Which of the following is not a commercial tax service?

Accepted Answer

A)  RIA Federal Tax Coordinator 2d 
B)  CCH Federal Tax Services 
C)  Tax Management Portfolios 
D)  Cumulative Bulletin 
A)  RIA Federal Tax Coordinator 2d 
B)  CCH Federal Tax Services 
C)  Tax Management Portfolios 
D)  Cumulative Bulletin

Question 16

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 17

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

Accepted Answer

A) True 
 B)False

Question 18

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 19

Which of the following is not 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 20

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

Accepted Answer

A) True 
 B)False

The Internal Revenue Code is the primary source of statutory authority for federal income tax law.

Which of the following is not a primary authority?

In the citation Rev. Proc. 2002-32, 2002-1

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

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

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

Locate the revenue procedure that includes the inflation-adjusted individual tax rate schedules for 2015. This revenue procedure usually is released in the fourth quarter of the previous year. Provide a complete citation for your source.

A taxpayer who loses a case in the U.S. Tax Court may appeal the case directly to the U.S. Supreme Court.

Which of the following is not administrative authority?

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

Revenue procedures are a type of secondary authority.

Which of the following is not a secondary authority?

Which of the following is not a primary authority?

Which of the following statements does not accurately describe the tax research process?

Which of the following is not a commercial tax service?

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

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

When analyzing relevant legal authority:

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

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

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

The Internal Revenue Code is the primary source of statutory authority for federal income tax law.

Which of the following is not a primary authority?

In the citation Rev. Proc. 2002-32, 2002-1

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

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

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

Locate the revenue procedure that includes the inflation-adjusted individual tax rate schedules for 2015. This revenue procedure usually is released in the fourth quarter of the previous year. Provide a complete citation for your source.

A taxpayer who loses a case in the U.S. Tax Court may appeal the case directly to the U.S. Supreme Court.

Which of the following is not administrative authority?

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

Revenue procedures are a type of secondary authority.

Which of the following is not a secondary authority?

Which of the following is not a primary authority?

Which of the following statements does not accurately describe the tax research process?

Which of the following is not a commercial tax service?

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

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

When analyzing relevant legal authority:

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

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

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