Question 1

A taxpayer may not appeal a case from which court:

Accepted Answer

A) U.S.District Court. 
B) U.S.Circuit Court of Appeals. 
C) U.S.Court of Federal Claims. 
D) Small Case Division of the U.S.Tax Court. 
E) None of these. 
A) U.S.District Court. 
B) U.S.Circuit Court of Appeals. 
C) U.S.Court of Federal Claims. 
D) Small Case Division of the U.S.Tax Court. 
E) None of these.

Question 2

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Accepted Answer

A) True 
 B)False

Question 3

Which item may not be cited as a precedent?

Accepted Answer

A) Regulations 
B) Temporary Regulations 
C) Technical Advice Memoranda 
D) U.S.District Court decision 
E) None of these 
A) Regulations 
B) Temporary Regulations 
C) Technical Advice Memoranda 
D) U.S.District Court decision 
E) None of these

Question 4

Which of the following indicates that a decision has precedential value for future cases?

Accepted Answer

A) Stare decisis 
B) Golsen doctrine 
C) En banc 
D) Reenactment doctrine 
E) None of these 
A) Stare decisis 
B) Golsen doctrine 
C) En banc 
D) Reenactment doctrine 
E) None of these

Question 5

Temporary Regulations are only published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 6

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

Accepted Answer

There is no appeal from the Small Cases

Question 7

The term "petitioner" is a synonym for "defendant."

Accepted Answer

A) True 
 B)False

Question 8

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

Accepted Answer

A) True 
 B)False

Question 9

A jury trial is available in the following trial court:

Accepted Answer

A) U.S.Tax Court. 
B) U.S.Court of Federal Claims. 
C) U.S.District Court. 
D) U.S.Circuit Court of Appeals. 
E) None of these. 
A) U.S.Tax Court. 
B) U.S.Court of Federal Claims. 
C) U.S.District Court. 
D) U.S.Circuit Court of Appeals. 
E) None of these.

Question 10

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following sources has the highest tax validity?

Accepted Answer

A) Revenue Ruling 
B) Revenue Procedure 
C) Regulations 
D) Internal Revenue Code section 
E) None of these 
A) Revenue Ruling 
B) Revenue Procedure 
C) Regulations 
D) Internal Revenue Code section 
E) None of these

Question 12

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

Accepted Answer

A) True 
 B)False

Question 13

The Code section citation is incorrect: § 212(1).

Accepted Answer

A) True 
 B)False

Question 14

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 15

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Accepted Answer

A) True 
 B)False

Question 16

Which of these is not a correct citation to the Internal Revenue Code?

Accepted Answer

A) Section 211 
B) Section 1222(1) 
C) Section 2(a)(1)(
A)  
D) Section 280B 
E) All of these are correct cites. 
A) Section 211 
B) Section 1222(1) 
C) Section 2(a)(1)(
A)  
D) Section 280B 
E) All of these are correct cites.

Question 17

Which of the following is not an administrative source of tax law?

Accepted Answer

A) Field Service Advice 
B) Revenue Procedure 
C) Technical Advice Memoranda 
D) General Counsel Memorandum 
E) All of these are administrative sources. 
A) Field Service Advice 
B) Revenue Procedure 
C) Technical Advice Memoranda 
D) General Counsel Memorandum 
E) All of these are administrative sources.

Question 18

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases

Question 19

The first codification of the tax law occurred in 1954.

Accepted Answer

A) True 
 B)False

Question 20

In addressing the importance of a Regulation,an IRS agent must:

Accepted Answer

A) Give equal weight to the Code and the Regulations. 
B) Give more weight to the Code rather than to a Regulation. 
C) Give more weight to the Regulation rather than to the Code. 
D) Give less weight to the Code rather than to a Regulation. 
E) None of these. 
A) Give equal weight to the Code and the Regulations. 
B) Give more weight to the Code rather than to a Regulation. 
C) Give more weight to the Regulation rather than to the Code. 
D) Give less weight to the Code rather than to a Regulation. 
E) None of these.

Exam 2: Working With the Tax Law

A taxpayer may not appeal a case from which court:

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Which item may not be cited as a precedent?

Which of the following indicates that a decision has precedential value for future cases?

Temporary Regulations are only published in the Internal Revenue Bulletin.

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

The term "petitioner" is a synonym for "defendant."

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

A jury trial is available in the following trial court:

Technical Advice Memoranda deal with completed transactions.

Which of the following sources has the highest tax validity?

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

The Code section citation is incorrect: § 212(1).

Tax planning usually involves a completed transaction.

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Which of these is not a correct citation to the Internal Revenue Code?

Which of the following is not an administrative source of tax law?

What is a Technical Advice Memorandum?

The first codification of the tax law occurred in 1954.

In addressing the importance of a Regulation,an IRS agent must:

An Introduction to Taxation and Understanding the Tax Law

Computing the Tax

Gross Income: Concepts and Inclusions

Gross Income: Exclusions

Deductions and Losses: in General

Deductions and Losses: Certain Business Expenses and Losses

Depreciation, cost Recovery, amortization, and Depletion

Deductions: Employee and Self-Employed-Related Expenses

Deductions and Losses: Certain Itemized Deductions

Investor Losses

Tax Credits and Payments

Property Transactions: Determination of Gain or Loss, basis Considerations, and Nontaxabl

Property Transactions: Capital Gains and Losses, section 1231 and Recapture Provisions

Alternative Minimum Tax

Accounting Periods and Methods

Corporations: Introduction and Operating Rules

Corporations: Organization and Capital Structure

Corporations: Distributions Not in Complete Liquidation

Corporations: Distributions in Complete Liquidation and an Overview of Reorganizations

Partnerships

S Corporations

Exempt Entities

Multistate Corporate Taxation

Taxation of International Transactions

Tax Practice and Ethics

Family Tax Planning

Income Taxation of Trusts and Estates

Filters