Question 1

What is the purpose of a citator?

Accepted Answer

Citators give a history of the

Question 2

Indicate which courts decided the case cited below.Also indicate on which pages and in which publications the authority is reported.
U.S.v.Maclin P.Davis,397 U.S.301,25AFTR 2d 70-827,70-1 USTC &9289 (1970).

Accepted Answer

This case appears in Vol.397,page 301,of

Question 3

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 4

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 5

Which of the following statements regarding proposed regulations is not correct?

Accepted Answer

A)  Proposed regulations expire after three years. 
B)  Practitioners and other interested parties may comment on proposed regulations. 
C)  Proposed and temporary regulations are generally issued simultaneously. 
D)  Proposed regulations do not provide any insight into the IRS's interpretation of the tax law. 
A)  Proposed regulations expire after three years. 
B)  Practitioners and other interested parties may comment on proposed regulations. 
C)  Proposed and temporary regulations are generally issued simultaneously. 
D)  Proposed regulations do not provide any insight into the IRS's interpretation of the tax law.

Question 6

Which of the following is a true statement regarding primary authority of tax law?

Accepted Answer

A)  Articles in The Journal of Taxation are viewed as primary authority. 
B)  Primary authority includes the Code, as well as administrative and judicial interpretations. 
C)  The Bloomberg BNA Daily Tax Reporter is a source of primary tax authority. 
D)  Tax services are sources of primary tax authority. 
A)  Articles in The Journal of Taxation are viewed as primary authority. 
B)  Primary authority includes the Code, as well as administrative and judicial interpretations. 
C)  The Bloomberg BNA Daily Tax Reporter is a source of primary tax authority. 
D)  Tax services are sources of primary tax authority.

Question 7

Assume that the Tax Court decided an expenditure in question was deductible.The government appealed to the Fifth Circuit,which reversed the decision and held it was not deductible.No other circuits have ruled on the issue.
A new case has just been filed in the Tax Court.How will the Tax Court rule if this new case is appealable to the Tenth Circuit? Would your answer be different if the case was appealable to the Fifth Circuit?

Accepted Answer

The Golsen rule provides that the Tax Co

Question 8

Which regulation deals with Code Section 165?

Accepted Answer

A)  Reg. Sec. 1.165-5 
B)  Reg. Sec. 165.183-5 
C)  Reg. Sec. 1.5-165 
D)  Reg. Sec. 165-5 
A)  Reg. Sec. 1.165-5 
B)  Reg. Sec. 165.183-5 
C)  Reg. Sec. 1.5-165 
D)  Reg. Sec. 165-5

Question 9

During the course of an audit,a CPA discovers an error in a prior return.According to the Statements on Standards for Tax Services,the CPA should

Accepted Answer

A)  ask the client for permission to disclose the error to the IRS. 
B)  withdraw from the engagement. 
C)  inform the IRS of the error, regardless of whether the client grants permission. 
D)  correct the error in the current year's tax return. 
A)  ask the client for permission to disclose the error to the IRS. 
B)  withdraw from the engagement. 
C)  inform the IRS of the error, regardless of whether the client grants permission. 
D)  correct the error in the current year's tax return.

Question 10

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 11

Assume that you want to read a description of a particular area of the law,along with one or more illustrations of how that law is applied.You will not find that type of material in

Accepted Answer

A)  a citator. 
B)  the Treasury Regulations. 
C)  the Cumulative Bulletin. 
D)  the Committee Reports. 
A)  a citator. 
B)  the Treasury Regulations. 
C)  the Cumulative Bulletin. 
D)  the Committee Reports.

Question 12

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 13

The Internal Revenue Code of 1986 contains the current version of the tax law.

Accepted Answer

A) True 
 B)False

Question 14

Discuss the purposes and scope of temporary regulations.

Accepted Answer

Temporary regulations are issued by the

Question 15

Ralph's business records were lost as a result of Hurricane Katrina.CPA Jane prepares Ralph's return using estimates.What do the Statements on Standards for Tax Services state about the use of estimates?

Accepted Answer

A)  Estimates may not be used. 
B)  Estimates may be used without disclosing their use to the IRS. 
C)  Estimates may be used, but Jane should disclose their use to the IRS. 
D)  The Statements on Standards for Tax Services do not address the use of estimates. 
A)  Estimates may not be used. 
B)  Estimates may be used without disclosing their use to the IRS. 
C)  Estimates may be used, but Jane should disclose their use to the IRS. 
D)  The Statements on Standards for Tax Services do not address the use of estimates.

Question 16

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 17

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 18

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 19

Identify which of the following statements is true.

Accepted Answer

A)  The U.S. Court of Federal Claims hears cases only in Washington, DC. 
B)  Each state has at least one U.S. District Court. 
C)  Federal district court decisions and federal courts of appeals decisions are not printed by the U.S. Government Printing Office. 
D)  All of the above are false. 
A)  The U.S. Court of Federal Claims hears cases only in Washington, DC. 
B)  Each state has at least one U.S. District Court. 
C)  Federal district court decisions and federal courts of appeals decisions are not printed by the U.S. Government Printing Office. 
D)  All of the above are false.

Question 20

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.

What is the purpose of a citator?

Indicate which courts decided the case cited below.Also indicate on which pages and in which publications the authority is reported. U.S.v.Maclin P.Davis,397 U.S.301,25AFTR 2d 70-827,70-1 USTC &9289 (1970).

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

Why does a researcher use a citator?

Which of the following statements regarding proposed regulations is not correct?

Which of the following is a true statement regarding primary authority of tax law?

Which regulation deals with Code Section 165?

During the course of an audit,a CPA discovers an error in a prior return.According to the Statements on Standards for Tax Services,the CPA should

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

Assume that you want to read a description of a particular area of the law,along with one or more illustrations of how that law is applied.You will not find that type of material in

Identify which of the following statements is true.

The Internal Revenue Code of 1986 contains the current version of the tax law.

Discuss the purposes and scope of temporary regulations.

Ralph's business records were lost as a result of Hurricane Katrina.CPA Jane prepares Ralph's return using estimates.What do the Statements on Standards for Tax Services state about the use of estimates?

Identify which of the following statements is true.

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

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

Identify which of the following statements is true.

Identify which of the following statements is false.

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

Corporations

Partnerships and S Corporations

Taxes and Investment Planning

Filters

Exam 15: Tax Research

What is the purpose of a citator?

Indicate which courts decided the case cited below.Also indicate on which pages and in which publications the authority is reported. U.S.v.Maclin P.Davis,397 U.S.301,25AFTR 2d 70-827,70-1 USTC &9289 (1970).

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

Why does a researcher use a citator?

Which of the following statements regarding proposed regulations is not correct?

Which of the following is a true statement regarding primary authority of tax law?

Which regulation deals with Code Section 165?

During the course of an audit,a CPA discovers an error in a prior return.According to the Statements on Standards for Tax Services,the CPA should

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

Assume that you want to read a description of a particular area of the law,along with one or more illustrations of how that law is applied.You will not find that type of material in

Identify which of the following statements is true.

The Internal Revenue Code of 1986 contains the current version of the tax law.

Discuss the purposes and scope of temporary regulations.

Ralph's business records were lost as a result of Hurricane Katrina.CPA Jane prepares Ralph's return using estimates.What do the Statements on Standards for Tax Services state about the use of estimates?

Identify which of the following statements is true.

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

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

Identify which of the following statements is true.

Identify which of the following statements is false.

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

Corporations

Partnerships and S Corporations

Taxes and Investment Planning

Filters