Question 1

The number appearing immediately following the decimal place in a regulation citation refers to the

Accepted Answer

A) general subject matter of the regulation. 
B) Code section being interpreted. 
C) sequential number of the regulation. 
D) subsection of the Code section being interpreted. 
A) general subject matter of the regulation. 
B) Code section being interpreted. 
C) sequential number of the regulation. 
D) subsection of the Code section being interpreted. B

Question 2

When a taxpayer contacts a tax advisor requesting advice as to the most advantageous way to dispose of a stock,the tax advisor is faced with

Accepted Answer

A) a restricted-fact situation. 
B) a closed-fact situation. 
C) an open-fact situation. 
D) a recognized-fact situation. 
A) a restricted-fact situation. 
B) a closed-fact situation. 
C) an open-fact situation. 
D) a recognized-fact situation. C

Question 3

Which regulation deals with the gift tax?

Accepted Answer

A) Reg.Sec.1.165-5 
B) Reg.Sec.20.2014-5 
C) Reg.Sec.25.2518-5 
D) Reg.Sec.301.7002-5 
A) Reg.Sec.1.165-5 
B) Reg.Sec.20.2014-5 
C) Reg.Sec.25.2518-5 
D) Reg.Sec.301.7002-5 C

Question 4

A tax case cannot be appealed when initiated in the

Accepted Answer

A) U)S.Court of Federal Claims. 
B) U)S.Tax Court. 
C) U)S.Tax Court using the small case procedures. 
D) none of the above 
A) U)S.Court of Federal Claims. 
B) U)S.Tax Court. 
C) U)S.Tax Court using the small case procedures. 
D) none of the above

Question 5

Explain the legislative reenactment doctrine.

Accepted Answer

Under the legislative reenactment doctri

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

A revenue ruling is issued by the Internal Revenue Service only in response to a verbal inquiry by a taxpayer.

Accepted Answer

A) True 
 B)False

Question 8

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 9

What is the minimum information that should be contained in a citation?

Accepted Answer

A citation should contain,at a minimum,t

Question 10

George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court.He would like to appeal the decision.Which one of the following is true?

Accepted Answer

A) There is no appeal. 
B) He can appeal the case,but only if the amount of tax involved is greater than $5,000. 
C) He would appeal first to the U.S.Court of Appeals for the Federal Circuit. 
D) He would appeal first to the U.S.Court of Federal Claims. 
A) There is no appeal. 
B) He can appeal the case,but only if the amount of tax involved is greater than $5,000. 
C) He would appeal first to the U.S.Court of Appeals for the Federal Circuit. 
D) He would appeal first to the U.S.Court of Federal Claims.

Question 11

What are the purposes of citations in tax research?

Accepted Answer

Citations serve two purposes.F

Question 12

Does Title 26 contain statutory provisions dealing only with income taxation? Explain.

Accepted Answer

No; Title 26 deals with all ta

Question 13

Identify which of the following statements is true.

Accepted Answer

A) If regulations are issued prior to the latest tax legislation dealing with a specific Code section,the regulations are no longer effective to the extent they conflict with the provisions in the new legislation. 
B) Legislative regulations are more likely to be invalidated by the courts than are interpretative regulations. 
C) Regulations have more authoritative weight than tax statutes. 
D) All of the above are false. 
A) If regulations are issued prior to the latest tax legislation dealing with a specific Code section,the regulations are no longer effective to the extent they conflict with the provisions in the new legislation. 
B) Legislative regulations are more likely to be invalidated by the courts than are interpretative regulations. 
C) Regulations have more authoritative weight than tax statutes. 
D) All of the above are false.

Question 14

Indicate which courts decided the case cited below.Also indicate on which pages and in which publications the authority is reported.
U.S.v.Maclin P.Davis,397 U.S.301,25 AFTR 2d 70-827,70-1 USTC & 9289 (1970).

Accepted Answer

This case appears in Vol.397,page 301,of

Question 15

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 16

You need to locate a recent tax case that was tried in a Federal district court.The decision is an "unreported" decision.This means the decision was

Accepted Answer

A) not published in the Federal Supplement. 
B) not published in American Federal Tax Reports. 
C) not published in United States Tax Cases. 
D) settled out of court. 
A) not published in the Federal Supplement. 
B) not published in American Federal Tax Reports. 
C) not published in United States Tax Cases. 
D) settled out of court.

Question 17

What are some of the factors to consider when deciding in which court to file a tax-related claim?

Accepted Answer

Factors to consider include ea

Question 18

Which of the following citations denotes a regular decision of the Tax Court?

Accepted Answer

A) 41 TCM 1272 
B) 35 T.C.1083 (2003) 
C) 39 AFTR 2d 77-640 
D) all of the above 
A) 41 TCM 1272 
B) 35 T.C.1083 (2003) 
C) 39 AFTR 2d 77-640 
D) all of the above

Question 19

Assume that you want to read a description of a particular area of the law,along with one or more illustrations of how that law is applied.You will not find that type of material in

Accepted Answer

A) a citator. 
B) the Treasury Regulations. 
C) the Cumulative Bulletin. 
D) the Committee Reports. 
A) a citator. 
B) the Treasury Regulations. 
C) the Cumulative Bulletin. 
D) the Committee Reports.

Question 20

If the U.S.District Court for Rhode Island,the Tax Court,and the Eleventh Circuit have all ruled on a particular issue,then what precedents have been set for which courts in the future?

Accepted Answer

Any U.S.District court within the Eleven

Exam 1: Tax Research

The number appearing immediately following the decimal place in a regulation citation refers to the

When a taxpayer contacts a tax advisor requesting advice as to the most advantageous way to dispose of a stock,the tax advisor is faced with

Which regulation deals with the gift tax?

A tax case cannot be appealed when initiated in the

Explain the legislative reenactment doctrine.

Identify which of the following statements is false.

A revenue ruling is issued by the Internal Revenue Service only in response to a verbal inquiry by a taxpayer.

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

What is the minimum information that should be contained in a citation?

George's case was handled under the "small tax case procedure." He does not agree with the findings of the Tax Court.He would like to appeal the decision.Which one of the following is true?

What are the purposes of citations in tax research?

Does Title 26 contain statutory provisions dealing only with income taxation? Explain.

Identify which of the following statements is true.

Indicate which courts decided the case cited below.Also indicate on which pages and in which publications the authority is reported. U.S.v.Maclin P.Davis,397 U.S.301,25 AFTR 2d 70-827,70-1 USTC & 9289 (1970).

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

You need to locate a recent tax case that was tried in a Federal district court.The decision is an "unreported" decision.This means the decision was

What are some of the factors to consider when deciding in which court to file a tax-related claim?

Which of the following citations denotes a regular decision of the Tax Court?

Assume that you want to read a description of a particular area of the law,along with one or more illustrations of how that law is applied.You will not find that type of material in

If the U.S.District Court for Rhode Island,the Tax Court,and the Eleventh Circuit have all ruled on a particular issue,then what precedents have been set for which courts in the future?

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

Tax Research

Corporations

Partnerships and S Corporations

Taxes and Investment Planning

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