Question 1

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 2

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

Accepted Answer

A) True 
 B)False

Question 3

Describe the appeals process in tax litigation.

Accepted Answer

Appeals from Tax Court and U.S.district

Question 4

Identify which of the following statements is false.

Accepted Answer

A)  Citations to the AFTR and the USTC are referred to as secondary citations. 
B)  A circuit court of appeals must follow the opinion of another circuit court of appeals if the latter appeals court has previously ruled on the tax issue. 
C)  A U.S. Supreme Court opinion in a tax matter has the same status as Congressional tax legislation. 
D)  Circuit Court decisions are reported in the Federal Reporter. 
A)  Citations to the AFTR and the USTC are referred to as secondary citations. 
B)  A circuit court of appeals must follow the opinion of another circuit court of appeals if the latter appeals court has previously ruled on the tax issue. 
C)  A U.S. Supreme Court opinion in a tax matter has the same status as Congressional tax legislation. 
D)  Circuit Court decisions are reported in the Federal Reporter.

Question 5

Outline and discuss the tax research process.

Accepted Answer

1)The facts must be determined.However,s

Question 6

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.

Question 7

Under what circumstances might a tax advisor find the provisions of a tax treaty useful?

Accepted Answer

A tax advisor might consult th

Question 8

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 9

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 10

Identify which of the following statements is true.

Accepted Answer

A)  Paragraph references are most commonly used when citing or referring to the tax statutes. 
B)  Title 26 of the United States Code and the Internal Revenue Code of 1986 are synonymous. 
C)  Before 1939, tax statutes were codified or compiled into one document. 
D)  The Internal Revenue Code contains chapters, which are further subdivided into titles. 
A)  Paragraph references are most commonly used when citing or referring to the tax statutes. 
B)  Title 26 of the United States Code and the Internal Revenue Code of 1986 are synonymous. 
C)  Before 1939, tax statutes were codified or compiled into one document. 
D)  The Internal Revenue Code contains chapters, which are further subdivided into titles.

Question 11

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari.The Supreme Court decides whether or not they will hear the case.

Accepted Answer

A) True 
 B)False

Question 12

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 13

What are some of the consequences of the small cases procedure of the Tax Court?

Accepted Answer

The small cases procedure allo

Question 14

Regulations issued prior to the latest tax legislation dealing with a specific Code section are still effective to the extent they do not conflict with the provisions in the new legislation.

Accepted Answer

A) True 
 B)False

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

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 17

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 18

Identify which of the following statements is true.

Accepted Answer

A)  RIA United States Tax Reporter and CCH Standard Federal Tax Reporter are topical tax services. 
B)  An annotated tax service is organized by broad subject areas. 
C)  Annotations are summaries of IRS pronouncements and court opinions. 
D)  All of the above are false. 
A)  RIA United States Tax Reporter and CCH Standard Federal Tax Reporter are topical tax services. 
B)  An annotated tax service is organized by broad subject areas. 
C)  Annotations are summaries of IRS pronouncements and court opinions. 
D)  All of the above are false.

Question 19

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 20

What is the purpose of a citator?

Accepted Answer

Citators give a history of the

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

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

Describe the appeals process in tax litigation.

Identify which of the following statements is false.

Outline and discuss the tax research process.

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

Under what circumstances might a tax advisor find the provisions of a tax treaty useful?

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

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

Identify which of the following statements is true.

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari.The Supreme Court decides whether or not they will hear the case.

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

What are some of the consequences of the small cases procedure of the Tax Court?

Regulations issued prior to the latest tax legislation dealing with a specific Code section are still effective to the extent they do not conflict with the provisions in the new legislation.

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

Identify which of the following statements is false.

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 true.

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 is the purpose of a citator?

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

US Corporations

The Gift Tax

The Estate Tax

Income Taxation of Trusts and Estates

Administrative Procedures

US Taxation of Foreign-Related Transactions

Filters

Exam 1: Tax Research

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

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

Describe the appeals process in tax litigation.

Identify which of the following statements is false.

Outline and discuss the tax research process.

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

Under what circumstances might a tax advisor find the provisions of a tax treaty useful?

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

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

Identify which of the following statements is true.

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari.The Supreme Court decides whether or not they will hear the case.

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

What are some of the consequences of the small cases procedure of the Tax Court?

Regulations issued prior to the latest tax legislation dealing with a specific Code section are still effective to the extent they do not conflict with the provisions in the new legislation.

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

Identify which of the following statements is false.

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 true.

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 is the purpose of a citator?

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

US Corporations

The Gift Tax

The Estate Tax

Income Taxation of Trusts and Estates

Administrative Procedures

US Taxation of Foreign-Related Transactions

Filters