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 C

Question 2

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. A

Question 3

This Internal Revenue Code section citation is incorrect: § 212(1).

Accepted Answer

A) True 
 B)False  False

Question 4

In § 212(1), the number (1) stands for the:

Accepted Answer

A) Section number. 
B) Subsection number. 
C) Paragraph designation. 
D) Subparagraph designation. 
E) None of these. 
A) Section number. 
B) Subsection number. 
C) Paragraph designation. 
D) Subparagraph designation. 
E) None of these.

Question 5

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 6

Which of these is not a correct citation to the Internal Revenue Code?

Accepted Answer

A) Section 211 
B) Section 1222(1) 
C) Section 2(a)(1)(
A)  
D) Section 280B 
E) All of these are correct cites. 
A) Section 211 
B) Section 1222(1) 
C) Section 2(a)(1)(
A)  
D) Section 280B 
E) All of these are correct cites.

Question 7

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 8

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties (some

Question 9

Which is not a primary source of tax law?

Accepted Answer

A) Notice 89-99, 1989-2 C.B. 422. 
B) Estate of Harry Holmes v. Comm., 326 U.S. 480 (1946). 
C) Rev. Rul. 79-353, 1979-2 C.B. 325. 
D) Prop. Reg. § 1.752-4T(f). 
E) All of these are primary sources. 
A) Notice 89-99, 1989-2 C.B. 422. 
B) Estate of Harry Holmes v. Comm., 326 U.S. 480 (1946). 
C) Rev. Rul. 79-353, 1979-2 C.B. 325. 
D) Prop. Reg. § 1.752-4T(f). 
E) All of these are primary sources.

Question 10

Three judges will normally hear each U.S. Tax Court case.

Accepted Answer

A) True 
 B)False

Question 11

Which tax-related website probably gives the best policy-orientation results?

Accepted Answer

A) taxalmanac.org. 
B) irs.gov. 
C) taxsites.com. 
D) taxanalysts.com. 
E) ustaxcourt.gov. 
A) taxalmanac.org. 
B) irs.gov. 
C) taxsites.com. 
D) taxanalysts.com. 
E) ustaxcourt.gov.

Question 12

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 13

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S. Court of Federal Claims. Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

Accepted Answer

A) True 
 B)False

Question 14

If a taxpayer decides not to pay a tax deficiency, he or she must go to which court?

Accepted Answer

A) Appropriate U.S. Circuit Court of Appeals 
B) U.S. District Court 
C) U.S. Tax Court 
D) U.S. Court of Federal Claims 
E) None of these 
A) Appropriate U.S. Circuit Court of Appeals 
B) U.S. District Court 
C) U.S. Tax Court 
D) U.S. Court of Federal Claims 
E) None of these

Question 15

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases

Question 16

What administrative release deals with a proposed transaction rather than a completed transaction?

Accepted Answer

A) Letter Ruling 
B) Technical Advice Memorandum 
C) Determination Letter 
D) Field Service Advice 
E) None of these 
A) Letter Ruling 
B) Technical Advice Memorandum 
C) Determination Letter 
D) Field Service Advice 
E) None of these

Question 17

The research process should always begin with a tax service.

Accepted Answer

A) True 
 B)False

Question 18

Temporary Regulations are only published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 19

The Internal Revenue Code was first codified in what year?

Accepted Answer

A) 1913 
B) 1923 
C) 1939 
D) 1954 
E) 1986 
A) 1913 
B) 1923 
C) 1939 
D) 1954 
E) 1986

Question 20

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

Accepted Answer

A) True 
 B)False

Which item may not be cited as a precedent?

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

This Internal Revenue Code section citation is incorrect: § 212(1).

In § 212(1), the number (1) stands for the:

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

Which of these is not a correct citation to the Internal Revenue Code?

The IRS will not acquiesce to the following tax decisions:

How do treaties fit within tax sources?

Which is not a primary source of tax law?

Three judges will normally hear each U.S. Tax Court case.

Which tax-related website probably gives the best policy-orientation results?

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

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S. Court of Federal Claims. Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

If a taxpayer decides not to pay a tax deficiency, he or she must go to which court?

What is a Technical Advice Memorandum?

What administrative release deals with a proposed transaction rather than a completed transaction?

The research process should always begin with a tax service.

Temporary Regulations are only published in the Internal Revenue Bulletin.

The Internal Revenue Code was first codified in what year?

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

An Introduction to Taxation and Understanding Federal Tax 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

Deductions and Losses: Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basis Considerations

Property Transactions: Nontaxable Exchanges

Property Transactions: Capital Gains and Losses

Property Transactions: 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 statement is not true with respect to a Regulation that interprets the tax law?

This Internal Revenue Code section citation is incorrect: § 212(1).

In § 212(1), the number (1) stands for the:

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

Which of these is not a correct citation to the Internal Revenue Code?

The IRS will not acquiesce to the following tax decisions:

How do treaties fit within tax sources?

Which is not a primary source of tax law?

Three judges will normally hear each U.S. Tax Court case.

Which tax-related website probably gives the best policy-orientation results?

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

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S. Court of Federal Claims. Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

If a taxpayer decides not to pay a tax deficiency, he or she must go to which court?

What is a Technical Advice Memorandum?

What administrative release deals with a proposed transaction rather than a completed transaction?

The research process should always begin with a tax service.

Temporary Regulations are only published in the Internal Revenue Bulletin.

The Internal Revenue Code was first codified in what year?

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

An Introduction to Taxation and Understanding Federal Tax 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

Deductions and Losses: Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basis Considerations

Property Transactions: Nontaxable Exchanges

Property Transactions: Capital Gains and Losses

Property Transactions: 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters