Question 1

The Senate equivalent of the House Ways and Means Committee is the Senate

Accepted Answer

A) Finance Committee. 
B) Ways and Means Committee. 
C) Tax Committee. 
D) Joint Conference Committee. 
A) Finance Committee. 
B) Ways and Means Committee. 
C) Tax Committee. 
D) Joint Conference Committee.

Question 2

Regular decisions involve an issue decided for the first time.A memorandum decision frequently involves a variation in the facts for an issue where the law has been previously decided.

Accepted Answer

Regular decisions and memorandum decisio

Question 3

Which of the following statements regarding proposed regulations is not correct?

Accepted Answer

A) Proposed regulations expire after three years. 
B) Practitioners and other interested parties may comment on proposed regulations. 
C) Proposed and temporary regulations are generally issued simultaneously. 
D) Proposed regulations do not provide any insight into the IRS's interpretation of the tax law. 
A) Proposed regulations expire after three years. 
B) Practitioners and other interested parties may comment on proposed regulations. 
C) Proposed and temporary regulations are generally issued simultaneously. 
D) Proposed regulations do not provide any insight into the IRS's interpretation of the tax law.

Question 4

Read the applicable material.

Accepted Answer

It seems like there might be a misunders

Question 5

Identify which of the following statements is true.

Accepted Answer

A) Tax planning is an integral part of both closed-fact situations and open-fact situations. 
B) The first step in conducting tax research is to clearly understand the issues involved. 
C) The Statements on Standards for Tax Services recommend that only written tax advice be provided to the client in all situations. 
D) All of the above are false. 
A) Tax planning is an integral part of both closed-fact situations and open-fact situations. 
B) The first step in conducting tax research is to clearly understand the issues involved. 
C) The Statements on Standards for Tax Services recommend that only written tax advice be provided to the client in all situations. 
D) All of the above are false.

Question 6

Identify which of the following statements is false.

Accepted Answer

A) A revenue ruling is issued by the Internal Revenue Service only in response to a written inquiry by a taxpayer. 
B) Rev.Proc.2006-19 is a revenue procedure that was published in 2006. 
C) The citation Ltr.Rul.200611075 usually indicates the ruling was made public in the 11th week of 2006. 
D) A technical advice memorandum is made available as a letter ruling. 
A) A revenue ruling is issued by the Internal Revenue Service only in response to a written inquiry by a taxpayer. 
B) Rev.Proc.2006-19 is a revenue procedure that was published in 2006. 
C) The citation Ltr.Rul.200611075 usually indicates the ruling was made public in the 11th week of 2006. 
D) A technical advice memorandum is made available as a letter ruling.

Question 7

Investigation of a tax problem that involves a closed-fact situation means that

Accepted Answer

A) the client's transactions have already occurred and the tax questions must now be resolved. 
B) the client's tax return has yet to be filed. 
C) future events may be planned and controlled. 
D) research is primarily concerned with applying the law to the facts as they exist. 
A) the client's transactions have already occurred and the tax questions must now be resolved. 
B) the client's tax return has yet to be filed. 
C) future events may be planned and controlled. 
D) research is primarily concerned with applying the law to the facts as they exist.

Question 8

A jury trial is permitted in the

Accepted Answer

A) U)S.District Court. 
B) U)S.Tax Court. 
C) U)S.Court of Federal Claims. 
D) U)S.Tax Court when the small case procedures are used. 
A) U)S.District Court. 
B) U)S.Tax Court. 
C) U)S.Court of Federal Claims. 
D) U)S.Tax Court when the small case procedures are used.

Question 9

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 10

Identify which of the following statements is false.

Accepted Answer

A) The U.S.Tax Court must follow the previous decisions of the U.S.District Court for the district in which the taxpayer lives. 
B) The U.S.Tax Court follows the previous decisions of the U.S.Court of Appeals to which the tax matter is appealable. 
C) The opportunity for "forum shopping" occurs when different precedents on the same point exist. 
D) The U.S.Tax Court may intentionally issue conflicting decisions. 
A) The U.S.Tax Court must follow the previous decisions of the U.S.District Court for the district in which the taxpayer lives. 
B) The U.S.Tax Court follows the previous decisions of the U.S.Court of Appeals to which the tax matter is appealable. 
C) The opportunity for "forum shopping" occurs when different precedents on the same point exist. 
D) The U.S.Tax Court may intentionally issue conflicting decisions.

Question 11

Which regulation deals with Code Section 165?

Accepted Answer

A) Reg.Sec.1.165-5 
B) Reg.Sec.165.183-5 
C) Reg.Sec.1.5-165 
D) Reg.Sec.165-5 
A) Reg.Sec.1.165-5 
B) Reg.Sec.165.183-5 
C) Reg.Sec.1.5-165 
D) Reg.Sec.165-5

Question 12

Refine the issues and perhaps return to step 1.

Accepted Answer

The input question seems to be a directi

Question 13

Identify which of the following statements is false.

Accepted Answer

A) Letter rulings are not published by the U.S.Government Printing Office. 
B) Technical advice memoranda are issued by the Internal Revenue Service's National Office to provide an answer to a technical question that arises in an audit. 
C) The citation Ann.2006-12,I.R.B.2006-51,22 refers to an annotation of an Internal Revenue Service release. 
D) Announcements are more technical than information releases. 
A) Letter rulings are not published by the U.S.Government Printing Office. 
B) Technical advice memoranda are issued by the Internal Revenue Service's National Office to provide an answer to a technical question that arises in an audit. 
C) The citation Ann.2006-12,I.R.B.2006-51,22 refers to an annotation of an Internal Revenue Service release. 
D) Announcements are more technical than information releases.

Question 14

According to the Statements on Standards for Tax Services,if a CPA believes that a client's prior-year tax return contains false information,the CPA should report this to the

Accepted Answer

A) IRS. 
B) SEC. 
C) AICPA. 
D) None of the above.The CPA does not report the false information to any external agencies,unless required by law. 
A) IRS. 
B) SEC. 
C) AICPA. 
D) None of the above.The CPA does not report the false information to any external agencies,unless required by law.

Question 15

The committee that is responsible for holding hearings on tax legislation for the House of Representatives is the

Accepted Answer

A) Finance Committee. 
B) Joint Committee on Taxation. 
C) Conference Committee. 
D) Ways and Means Committee. 
A) Finance Committee. 
B) Joint Committee on Taxation. 
C) Conference Committee. 
D) Ways and Means Committee.

Question 16

Are letter rulings of precedential value to third parties?

Accepted Answer

Not really.A letter ruling is binding on

Question 17

Regulations are

Accepted Answer

A) equal in authority to legislation. 
B) equal in authority to legislation if statutory. 
C) presumed to be valid and to have almost the same weight as the IRC. 
D) equal in authority to legislation if interpretative. 
A) equal in authority to legislation. 
B) equal in authority to legislation if statutory. 
C) presumed to be valid and to have almost the same weight as the IRC. 
D) equal in authority to legislation if interpretative.

Question 18

Read the cases and rulings referenced in the database.

Accepted Answer

As an AI, I don't have the ability to re

Question 19

Discuss the differences and similarities between regular and memorandum decisions issued by the U.S.Tax Court.

Accepted Answer

The answer of Discuss the differences and similarities between regular...

Question 20

Where must a tax researcher look to access all Tax Court cases?

Accepted Answer

The regular opinions are found in the Ta

Exam 31: Tax Research

The Senate equivalent of the House Ways and Means Committee is the Senate

Regular decisions involve an issue decided for the first time.A memorandum decision frequently involves a variation in the facts for an issue where the law has been previously decided.

Which of the following statements regarding proposed regulations is not correct?

Read the applicable material.

Identify which of the following statements is true.

Identify which of the following statements is false.

Investigation of a tax problem that involves a closed-fact situation means that

A jury trial is permitted in the

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

Identify which of the following statements is false.

Which regulation deals with Code Section 165?

Refine the issues and perhaps return to step 1.

Identify which of the following statements is false.

According to the Statements on Standards for Tax Services,if a CPA believes that a client's prior-year tax return contains false information,the CPA should report this to the

The committee that is responsible for holding hearings on tax legislation for the House of Representatives is the

Are letter rulings of precedential value to third parties?

Regulations are

Read the cases and rulings referenced in the database.

Discuss the differences and similarities between regular and memorandum decisions issued by the U.S.Tax Court.

Where must a tax researcher look to access all Tax Court cases?

Tax Research

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

Ustaxation of Foreign-Related Transactions

An Introduction to Taxation

Determination of Tax

Gross Income: Inclusions

Gross Income: Exclusions

Property Transactions: Capital Gains and Losses

Deductions and Losses

Itemized Deductions

Losses and Bad Debts

Employee Expenses and Deferred Compensation

Depreciation, cost Recovery, amortization, and Depletion

Accounting Periods and Methods

Property Transactions: Nontaxable Exchanges

Property Transactions: Sec1231 and Recapture

Special Tax Computation Methods, tax Credits, and Payment of Tax

Corporations

Partnerships and S Corporations

Taxes and Investment Planning

Filters