Question 1

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 2

A citator is used to find

Accepted Answer

A) the judicial history of a case. 
B) the cases that have cited a case subsequent to the issuance of the opinion. 
C) whether a case has been overturned. 
D) all of the above. 
A) the judicial history of a case. 
B) the cases that have cited a case subsequent to the issuance of the opinion. 
C) whether a case has been overturned. 
D) all of the above.

Question 3

Which of the following best describes the weight of a revenue ruling?

Accepted Answer

A) Revenue rulings carry more weight than regulations. 
B) Revenue rulings carry more weight than federal court decisions. 
C) Regulations carry more weight than revenue rulings. 
D) Revenue rulings should never be used as authority since they only apply to the taxpayer requesting the ruling. 
A) Revenue rulings carry more weight than regulations. 
B) Revenue rulings carry more weight than federal court decisions. 
C) Regulations carry more weight than revenue rulings. 
D) Revenue rulings should never be used as authority since they only apply to the taxpayer requesting the ruling.

Question 4

Where must a tax researcher look to access all Tax Court cases?

Accepted Answer

The regular opinions are found in the Ta

Question 5

The citation "Reg.Sec.1.199-2" refers to

Accepted Answer

A) the first regulation issued in 1999. 
B) the second regulation issued in 1999. 
C) a regulation that interprets Code Section 199. 
D) a regulation that can be found on page 199. 
A) the first regulation issued in 1999. 
B) the second regulation issued in 1999. 
C) a regulation that interprets Code Section 199. 
D) a regulation that can be found on page 199.

Question 6

What is "forum-shopping"?

Accepted Answer

Forum-shopping involves choosing where a

Question 7

Identify which of the following statements is false.

Accepted Answer

A) The number "5" in the citation Reg.Sec.1.166-5 refers to the paragraph number. 
B) The Cumulative Bulletin is issued semiannually while the Internal Revenue Bulletin is issued weekly. 
C) The citation Rev.Rul.2006-5,I.R.B.2006-1,33,indicates that the revenue ruling can be found on page 33 of the 1st I.R.B.for 2006. 
D) All of the above are false. 
A) The number "5" in the citation Reg.Sec.1.166-5 refers to the paragraph number. 
B) The Cumulative Bulletin is issued semiannually while the Internal Revenue Bulletin is issued weekly. 
C) The citation Rev.Rul.2006-5,I.R.B.2006-1,33,indicates that the revenue ruling can be found on page 33 of the 1st I.R.B.for 2006. 
D) All of the above are false.

Question 8

In 1998,Congress passed legislation concerning shifting the burden of proof to the IRS.The taxpayer must introduce "credible evidence" to shift the burden of proof to the IRS.What constitutes "credible evidence?"

Accepted Answer

The term is not defined in the IRC.Becau

Question 9

Does Title 26 contain statutory provisions dealing only with income taxation? Explain.

Accepted Answer

No;Title 26 deals with all tax

Question 10

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 11

The Senate equivalent of the House Ways and Means Committee is the Senate

Accepted Answer

A) Finance Committee. 
B) Ways and Means Committee. 
C) Tax Committee. 
D) Joint Conference Committee. 
A) Finance Committee. 
B) Ways and Means Committee. 
C) Tax Committee. 
D) Joint Conference Committee.

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

What is the minimum information that should be contained in a citation?

Accepted Answer

A citation should contain,at a minimum,t

Question 14

Identify which of the following statements is true.

Accepted Answer

A) Tax planning is an integral part of both closed-fact situations and open-fact situations. 
B) The first step in conducting tax research is to clearly understand the issues involved. 
C) The Statements on Standards for Tax Services recommend that only written tax advice be provided to the client in all situations. 
D) All of the above are false. 
A) Tax planning is an integral part of both closed-fact situations and open-fact situations. 
B) The first step in conducting tax research is to clearly understand the issues involved. 
C) The Statements on Standards for Tax Services recommend that only written tax advice be provided to the client in all situations. 
D) All of the above are false.

Question 15

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 16

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 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

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 19

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

Accepted Answer

Both types of regulations are issued by

Question 20

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.

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

A citator is used to find

Which of the following best describes the weight of a revenue ruling?

Where must a tax researcher look to access all Tax Court cases?

The citation "Reg.Sec.1.199-2" refers to

What is "forum-shopping"?

Identify which of the following statements is false.

In 1998,Congress passed legislation concerning shifting the burden of proof to the IRS.The taxpayer must introduce "credible evidence" to shift the burden of proof to the IRS.What constitutes "credible evidence?"

Does Title 26 contain statutory provisions dealing only with income taxation? Explain.

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

The Senate equivalent of the House Ways and Means Committee is the Senate

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

What is the minimum information that should be contained in a citation?

Identify which of the following statements is true.

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 false.

A citator enables tax researchers to locate authorities (e.g. ,cases and IRS pronouncements)that have cited a particular case.

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

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

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

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

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

A citator is used to find

Which of the following best describes the weight of a revenue ruling?

Where must a tax researcher look to access all Tax Court cases?

The citation "Reg.Sec.1.199-2" refers to

What is "forum-shopping"?

Identify which of the following statements is false.

In 1998,Congress passed legislation concerning shifting the burden of proof to the IRS.The taxpayer must introduce "credible evidence" to shift the burden of proof to the IRS.What constitutes "credible evidence?"

Does Title 26 contain statutory provisions dealing only with income taxation? Explain.

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

The Senate equivalent of the House Ways and Means Committee is the Senate

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

What is the minimum information that should be contained in a citation?

Identify which of the following statements is true.

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 false.

A citator enables tax researchers to locate authorities (e.g. ,cases and IRS pronouncements)that have cited a particular case.

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

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

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

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