Question 1

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

Accepted Answer

Yes.If the Tax Court is issuing two deci

Question 2

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 3

What is the purpose of Treasury Regulations?

Accepted Answer

The Treasury Department issues regulatio

Question 4

The citation "Rev.Rul.2006-8,2006-1 C.B.541" refers to

Accepted Answer

A)  the eighth ruling of 2006 found on page 541 in Vol. 1 of the 2006 Cumulative Bulletin. 
B)  the eighth ruling of 2006 found on page 541 in the 2006 volume of the Cumulative Bulletin. 
C)  the 541st ruling of 2006 found on page eight in Vol. 1 of the 2006 Cumulative Bulletin. 
D)  the 1st ruling of 2006 found on page 541 in the 2006 volume of the Cumulative Bulletin. 
A)  the eighth ruling of 2006 found on page 541 in Vol. 1 of the 2006 Cumulative Bulletin. 
B)  the eighth ruling of 2006 found on page 541 in the 2006 volume of the Cumulative Bulletin. 
C)  the 541st ruling of 2006 found on page eight in Vol. 1 of the 2006 Cumulative Bulletin. 
D)  the 1st ruling of 2006 found on page 541 in the 2006 volume of the Cumulative Bulletin.

Question 5

Which of the following is secondary authority?

Accepted Answer

A)  Internal Revenue Code 
B)  Treasury Regulations 
C)  RIA and CCH tax services 
D)  Revenue Ruling 
A)  Internal Revenue Code 
B)  Treasury Regulations 
C)  RIA and CCH tax services 
D)  Revenue Ruling

Question 6

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

Accepted Answer

Both types of regulations are issued by

Question 7

Why should tax researchers take note of the date on which a Treasury Regulation was adopted?

Accepted Answer

Researchers should note the date on whic

Question 8

Identify which of the following statements is false.

Accepted Answer

A)  The U.S. Tax Court must follow the previous decisions of the U.S. District Court for the district in which the taxpayer lives. 
B)  The U.S. Tax Court follows the previous decisions of the U.S. Court of Appeals to which the tax matter is appealable. 
C)  The opportunity for "forum shopping" occurs when different precedents on the same point exist. 
D)  The U.S. Tax Court may intentionally issue conflicting decisions. 
A)  The U.S. Tax Court must follow the previous decisions of the U.S. District Court for the district in which the taxpayer lives. 
B)  The U.S. Tax Court follows the previous decisions of the U.S. Court of Appeals to which the tax matter is appealable. 
C)  The opportunity for "forum shopping" occurs when different precedents on the same point exist. 
D)  The U.S. Tax Court may intentionally issue conflicting decisions.

Question 9

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.

Question 10

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 11

Which of the following statements about the Statements on Standards for Tax Services is true?

Accepted Answer

A)  A CPA is never allowed to use a taxpayer's estimates when preparing a tax return. 
B)  The CPA must tell the IRS upon becoming aware that an error has been made on a past tax return. 
C)  The CPA may in good faith rely on information provided by the taxpayer, without verifying the reliability of that information if reasonable inquiries are made where the information furnished appears to be incorrect. 
D)  The CPA should not recommend that a taxpayer take a certain position if there is any doubt as to whether the position would be approved by the IRS upon audit. 
A)  A CPA is never allowed to use a taxpayer's estimates when preparing a tax return. 
B)  The CPA must tell the IRS upon becoming aware that an error has been made on a past tax return. 
C)  The CPA may in good faith rely on information provided by the taxpayer, without verifying the reliability of that information if reasonable inquiries are made where the information furnished appears to be incorrect. 
D)  The CPA should not recommend that a taxpayer take a certain position if there is any doubt as to whether the position would be approved by the IRS upon audit.

Question 12

Discuss the conflict between advocacy for a client and responsibility to the IRS.

Accepted Answer

The CPA's primary duty is to his or her

Question 13

Tax planning is not an integral part of open-fact situations.

Accepted Answer

A) True 
 B)False

Question 14

If the U.S.Supreme Court decides to hear an appeal of a tax case,it will grant a

Accepted Answer

A)  writ of appeal. 
B)  writ of certiorari. 
C)  writ of detainer. 
D)  writ of habeas corpus. 
A)  writ of appeal. 
B)  writ of certiorari. 
C)  writ of detainer. 
D)  writ of habeas corpus.

Question 15

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 16

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 17

Identify which of the following statements is false.

Accepted Answer

A)  When tax advisors speak of the "tax law," they usually have in mind just the Internal Revenue Code. 
B)  Members from both the House and the Senate are on the Conference Committee. 
C)  Records of committee hearings are helpful in determining Congressional intent. 
D)  All of the above are false. 
A)  When tax advisors speak of the "tax law," they usually have in mind just the Internal Revenue Code. 
B)  Members from both the House and the Senate are on the Conference Committee. 
C)  Records of committee hearings are helpful in determining Congressional intent. 
D)  All of the above are false.

Question 18

What is "forum-shopping"?

Accepted Answer

Forum-shopping involves choosing where a

Question 19

The Tax Court departs from its general policy of ruling uniformly for all taxpayers where

Accepted Answer

A)  a U.S. District Court has ruled differently on the issue in the taxpayer's jurisdiction. 
B)  the U.S. Court of Federal Claims has ruled differently on the issue in the taxpayer's jurisdiction. 
C)  the Court of Appeals in the circuit to which the Tax Court decision would be appealed has ruled differently on the issue. 
D)  the IRS has indicated that it will acquiesce. 
A)  a U.S. District Court has ruled differently on the issue in the taxpayer's jurisdiction. 
B)  the U.S. Court of Federal Claims has ruled differently on the issue in the taxpayer's jurisdiction. 
C)  the Court of Appeals in the circuit to which the Tax Court decision would be appealed has ruled differently on the issue. 
D)  the IRS has indicated that it will acquiesce.

Question 20

Final regulations can take effect on any of the following dates except

Accepted Answer

A)  the effective date of the statutory language they interpret, provided they are issued within 18 months of the date of the change to the statute. 
B)  the date on which final regulations were proposed. 
C)  the date on which related temporary regulations were first published in the Federal Register. 
D)  the date on which they were issued in final form. 
A)  the effective date of the statutory language they interpret, provided they are issued within 18 months of the date of the change to the statute. 
B)  the date on which final regulations were proposed. 
C)  the date on which related temporary regulations were first published in the Federal Register. 
D)  the date on which they were issued in final form.

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

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

What is the purpose of Treasury Regulations?

The citation "Rev.Rul.2006-8,2006-1 C.B.541" refers to

Which of the following is secondary authority?

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

Why should tax researchers take note of the date on which a Treasury Regulation was adopted?

Identify which of the following statements is false.

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

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

Which of the following statements about the Statements on Standards for Tax Services is true?

Discuss the conflict between advocacy for a client and responsibility to the IRS.

Tax planning is not an integral part of open-fact situations.

If the U.S.Supreme Court decides to hear an appeal of a tax case,it will grant a

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

Identify which of the following statements is false.

Identify which of the following statements is false.

What is "forum-shopping"?

The Tax Court departs from its general policy of ruling uniformly for all taxpayers where

Final regulations can take effect on any of the following dates except

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

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

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

What is the purpose of Treasury Regulations?

The citation "Rev.Rul.2006-8,2006-1 C.B.541" refers to

Which of the following is secondary authority?

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

Why should tax researchers take note of the date on which a Treasury Regulation was adopted?

Identify which of the following statements is false.

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

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

Which of the following statements about the Statements on Standards for Tax Services is true?

Discuss the conflict between advocacy for a client and responsibility to the IRS.

Tax planning is not an integral part of open-fact situations.

If the U.S.Supreme Court decides to hear an appeal of a tax case,it will grant a

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

Identify which of the following statements is false.

Identify which of the following statements is false.

What is "forum-shopping"?

The Tax Court departs from its general policy of ruling uniformly for all taxpayers where

Final regulations can take effect on any of the following dates except

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