Question 1

The tax statutes with the popular name "The Internal Revenue Code of 1986" are contained in which Title of the Code?

Accepted Answer

A) 20 
B) 25 
C) 26 
D) 301 
A) 20 
B) 25 
C) 26 
D) 301

Question 2

In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.

Accepted Answer

The Tax Court,the U.S.Court of Federal C

Question 3

When a court discusses issues not raised by the facts,the comments

Accepted Answer

A) are excluded from the formal court opinion. 
B) may be referenced by the parties in other cases having the same facts. 
C) are not dicta. 
D) will cause the court's decision to be declared invalid. 
A) are excluded from the formal court opinion. 
B) may be referenced by the parties in other cases having the same facts. 
C) are not dicta. 
D) will cause the court's decision to be declared invalid.

Question 4

Identify which of the following statements is true.

Accepted Answer

A) The citation,41 TCM 1272,refers to a Tax Court regular decision published by Commerce Clearing House. 
B) The Federal Supplement contains only tax cases. 
C) The American Federal Tax Reports contain only tax cases. 
D) All of the above are false. 
A) The citation,41 TCM 1272,refers to a Tax Court regular decision published by Commerce Clearing House. 
B) The Federal Supplement contains only tax cases. 
C) The American Federal Tax Reports contain only tax cases. 
D) All of the above are false.

Question 5

You have the following citation: Joel Munro,92 T.C.71 (1989).Which of the following statements is true?

Accepted Answer

A) The taxpayer,Joel Munro,won the case because there is no reference to the IRS. 
B) The case appears on page 71 in Volume 92 of the official Tax Court of the United States Reports and the case was decided in 1989. 
C) This citation refers to a taxpayer conference between the IRS and the taxpayer. 
D) The case was tried in 1989 and was appealed in 1992. 
A) The taxpayer,Joel Munro,won the case because there is no reference to the IRS. 
B) The case appears on page 71 in Volume 92 of the official Tax Court of the United States Reports and the case was decided in 1989. 
C) This citation refers to a taxpayer conference between the IRS and the taxpayer. 
D) The case was tried in 1989 and was appealed in 1992.

Question 6

Identify which of the following statements is false.

Accepted Answer

A) When a court opinion discusses facts and issues on which the court does not rule,the comments are called dicta. 
B) Dicta in a court opinion has no influence on other tax proceedings. 
C) Published articles and tax services are examples of secondary sources of authority. 
D) Dicta are not authoritative. 
A) When a court opinion discusses facts and issues on which the court does not rule,the comments are called dicta. 
B) Dicta in a court opinion has no influence on other tax proceedings. 
C) Published articles and tax services are examples of secondary sources of authority. 
D) Dicta are not authoritative.

Question 7

What is the difference between a taxpayer-requested letter ruling and a technical advice memorandum issued as a letter ruling?

Accepted Answer

A taxpayer-requested letter ru

Question 8

What is the purpose of Treasury Regulations?

Accepted Answer

The Treasury Department issues regulatio

Question 9

Why does a researcher use a citator?

Accepted Answer

A) to check on authorities issued subsequent to a court decision 
B) to determine whether a private letter ruling exists on the subject 
C) for examples of the application of a tax provision 
D) none of the above 
A) to check on authorities issued subsequent to a court decision 
B) to determine whether a private letter ruling exists on the subject 
C) for examples of the application of a tax provision 
D) none of the above

Question 10

When Congress passes a statute with language such as,"The Secretary shall prescribe such regulations as he may deem necessary," the regulations ultimately issued for that statute are

Accepted Answer

A) congressional regulations. 
B) statutory regulations. 
C) interpretative regulations. 
D) legislative regulations. 
A) congressional regulations. 
B) statutory regulations. 
C) interpretative regulations. 
D) legislative regulations.

Question 11

Compare and contrast "interpretative" and "statutory" regulations.

Accepted Answer

Both types of regulations are issued by

Question 12

The citation "Reg.Sec.1.199-2" refers to

Accepted Answer

A) the first regulation issued in 1999. 
B) the second regulation issued in 1999. 
C) a regulation that interprets Code Section 199. 
D) a regulation that can be found on page 199. 
A) the first regulation issued in 1999. 
B) the second regulation issued in 1999. 
C) a regulation that interprets Code Section 199. 
D) a regulation that can be found on page 199.

Question 13

Taxpayers must pay the disputed tax prior to filing a case with the Tax Court.

Accepted Answer

A) True 
 B)False

Question 14

Final regulations have almost the same legislative weight as the IRC.

Accepted Answer

A) True 
 B)False

Question 15

In all situations,tax considerations are of primary importance.Do you agree or disagree? Support your answer.

Accepted Answer

It is important to consider nontax objec

Question 16

Small case procedures of the U.S.Tax Court requires that the amount in dispute not exceed

Accepted Answer

A) $5,000. 
B) $10,000. 
C) $50,000. 
D) $100,000. 
A) $5,000. 
B) $10,000. 
C) $50,000. 
D) $100,000.

Question 17

Which of the following documents is issued by the IRS to a specific taxpayer?

Accepted Answer

A) regulation 
B) revenue procedure 
C) letter ruling 
D) information release 
A) regulation 
B) revenue procedure 
C) letter ruling 
D) information release

Question 18

Explain how committee reports can be used in tax research.What do they indicate?

Accepted Answer

Committee reports can help res

Question 19

Identify which of the following statements is false.

Accepted Answer

A) The acquiescence policy was adopted by the U.S.Tax Court to permit litigating parties to agree on the exact amount of the tax due. 
B) Letter rulings are binding only with respect to the taxpayer requesting the ruling. 
C) The small cases procedure of the U.S.Tax Court allows a less formal hearing but provides for no appeal. 
D) The IRS may retroactively revoke an acquiescence. 
A) The acquiescence policy was adopted by the U.S.Tax Court to permit litigating parties to agree on the exact amount of the tax due. 
B) Letter rulings are binding only with respect to the taxpayer requesting the ruling. 
C) The small cases procedure of the U.S.Tax Court allows a less formal hearing but provides for no appeal. 
D) The IRS may retroactively revoke an acquiescence.

Question 20

Is it possible for the Tax Court to intentionally issue conflicting decisions?

Accepted Answer

Yes.If the Tax Court is issuing two deci

Exam 1: Tax Research

The tax statutes with the popular name "The Internal Revenue Code of 1986" are contained in which Title of the Code?

In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.

When a court discusses issues not raised by the facts,the comments

Identify which of the following statements is true.

You have the following citation: Joel Munro,92 T.C.71 (1989).Which of the following statements is true?

Identify which of the following statements is false.

What is the difference between a taxpayer-requested letter ruling and a technical advice memorandum issued as a letter ruling?

What is the purpose of Treasury Regulations?

Why does a researcher use a citator?

When Congress passes a statute with language such as,"The Secretary shall prescribe such regulations as he may deem necessary," the regulations ultimately issued for that statute are

Compare and contrast "interpretative" and "statutory" regulations.

The citation "Reg.Sec.1.199-2" refers to

Taxpayers must pay the disputed tax prior to filing a case with the Tax Court.

Final regulations have almost the same legislative weight as the IRC.

In all situations,tax considerations are of primary importance.Do you agree or disagree? Support your answer.

Small case procedures of the U.S.Tax Court requires that the amount in dispute not exceed

Which of the following documents is issued by the IRS to a specific taxpayer?

Explain how committee reports can be used in tax research.What do they indicate?

Identify which of the following statements is false.

Is it possible for the Tax Court to intentionally issue conflicting decisions?

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

Filters