Question 1

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 2

Which Regulations have the force and effect of law?

Accepted Answer

A) Procedural Regulations 
B) Finalized Regulations 
C) Legislative Regulations 
D) Interpretive Regulations 
E) All of these 
A) Procedural Regulations 
B) Finalized Regulations 
C) Legislative Regulations 
D) Interpretive Regulations 
E) All of these

Question 3

Which court decision would probably carry more weight?

Accepted Answer

A) Regular U.S.Tax Court decision 
B) Reviewed U.S.Tax Court decision 
C) U.S.District Court decision 
D) Tax Court Memorandum decision 
E) U.S.Court of Federal Claims 
A) Regular U.S.Tax Court decision 
B) Reviewed U.S.Tax Court decision 
C) U.S.District Court decision 
D) Tax Court Memorandum decision 
E) U.S.Court of Federal Claims

Question 4

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Accepted Answer

A) True 
 B)False

Question 5

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 6

Which statement is not true with respect to a Regulation that interprets the tax law?

Accepted Answer

A) Issued by the U.S.Congress. 
B) Issued by the U.S.Treasury Department. 
C) Designed to provide an interpretation of the tax law. 
D) Carries more legal force than a Revenue Ruling. 
E) All of these statements are true. 
A) Issued by the U.S.Congress. 
B) Issued by the U.S.Treasury Department. 
C) Designed to provide an interpretation of the tax law. 
D) Carries more legal force than a Revenue Ruling. 
E) All of these statements are true.

Question 7

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 8

Which publisher offers the Standard Federal Tax Reporter?

Accepted Answer

A) Research Institute of America 
B) Commerce Clearing House 
C) Thomson Reuters 
D) LexisNexis 
E) None of these 
A) Research Institute of America 
B) Commerce Clearing House 
C) Thomson Reuters 
D) LexisNexis 
E) None of these

Question 9

In a U.S.District Court,a jury can decide both questions of fact and questions of law.

Accepted Answer

A) True 
 B)False

Question 10

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 11

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 12

The Regulation section of the CPA exam is approximately 60% Taxation and 40% Law & Professional Responsibilities.

Accepted Answer

A) True 
 B)False

Question 13

Tax bills are handled by which committee in the U.S.House of Representatives?

Accepted Answer

A) Taxation Committee 
B) Ways and Means Committee 
C) Finance Committee 
D) Budget Committee 
E) None of these 
A) Taxation Committee 
B) Ways and Means Committee 
C) Finance Committee 
D) Budget Committee 
E) None of these

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Which of the following court decisions carries more weight?

Accepted Answer

A) Federal District Court 
B) Second Circuit Court of Appeals 
C) U.S.Tax Court decision 
D) Small Cases Division of U.S.Tax Court 
E) U.S.Court of Federal Claims 
A) Federal District Court 
B) Second Circuit Court of Appeals 
C) U.S.Tax Court decision 
D) Small Cases Division of U.S.Tax Court 
E) U.S.Court of Federal Claims

Question 16

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Accepted Answer

A) True 
 B)False

Question 17

The IRS will not acquiesce to the following tax decisions:

Accepted Answer

A) U.S.District Court. 
B) U.S.Tax Court. 
C) U.S.Court of Federal Claims. 
D) Small Case Division of the U.S.Tax Court. 
E) All of these. 
A) U.S.District Court. 
B) U.S.Tax Court. 
C) U.S.Court of Federal Claims. 
D) Small Case Division of the U.S.Tax Court. 
E) All of these.

Question 18

The following citation can be a correct citation: Rev.Rul.95-271,1995-64 I.R.B.18.

Accepted Answer

A) True 
 B)False

Question 19

How can Congressional Committee Reports be used by a tax researcher?

Accepted Answer

Congressional Committee Reports often ex

Question 20

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.District Court.

Accepted Answer

A) True 
 B)False

Which item may not be cited as a precedent?

Which Regulations have the force and effect of law?

Which court decision would probably carry more weight?

Technical Advice Memoranda may not be cited as precedents by taxpayers.

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

Which statement is not true with respect to a Regulation that interprets the tax law?

A taxpayer may not appeal a case from which court:

Which publisher offers the Standard Federal Tax Reporter?

In a U.S.District Court,a jury can decide both questions of fact and questions of law.

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

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

The Regulation section of the CPA exam is approximately 60% Taxation and 40% Law & Professional Responsibilities.

Tax bills are handled by which committee in the U.S.House of Representatives?

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

Which of the following court decisions carries more weight?

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

The IRS will not acquiesce to the following tax decisions:

The following citation can be a correct citation: Rev.Rul.95-271,1995-64 I.R.B.18.

How can Congressional Committee Reports be used by a tax researcher?

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.District Court.

An Introduction to Taxation and Understanding the Federal Law

Tax Formula and Tax Determination an Overview of Property Transactions

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

Deduction and Losses Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions Determination of Gain and Loss and Basic Considerations

Property Transactions Nontaxable Exchanges

Property Transactions Capital Gains and Losses

Property Transactions Section 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters

Exam 2: Working With the Tax Law

Which item may not be cited as a precedent?

Which Regulations have the force and effect of law?

Which court decision would probably carry more weight?

Technical Advice Memoranda may not be cited as precedents by taxpayers.

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

Which statement is not true with respect to a Regulation that interprets the tax law?

A taxpayer may not appeal a case from which court:

Which publisher offers the Standard Federal Tax Reporter?

In a U.S.District Court,a jury can decide both questions of fact and questions of law.

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

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

The Regulation section of the CPA exam is approximately 60% Taxation and 40% Law & Professional Responsibilities.

Tax bills are handled by which committee in the U.S.House of Representatives?

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

Which of the following court decisions carries more weight?

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

The IRS will not acquiesce to the following tax decisions:

The following citation can be a correct citation: Rev.Rul.95-271,1995-64 I.R.B.18.

How can Congressional Committee Reports be used by a tax researcher?

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.District Court.

An Introduction to Taxation and Understanding the Federal Law

Tax Formula and Tax Determination an Overview of Property Transactions

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

Deduction and Losses Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions Determination of Gain and Loss and Basic Considerations

Property Transactions Nontaxable Exchanges

Property Transactions Capital Gains and Losses

Property Transactions Section 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters