Question 1

Which of the following types of Regulations has the lowest tax validity?

Accepted Answer

A) Finalized. 
B) Legislative. 
C) Proposed. 
D) Temporary. 
E) Procedural. 
A) Finalized. 
B) Legislative. 
C) Proposed. 
D) Temporary. 
E) Procedural.

Question 2

A Revenue Ruling is a judicial source of Federal tax law.

Accepted Answer

A) True 
 B)False

Question 3

The following citation is correct: Larry
G.Mitchell, 131 T.C.215 (2008).

Accepted Answer

A) True 
 B)False

Question 4

Which publisher offers Tax Center that provides the Code, Regulations, and material from Matthew Bender, CCH, Kleinrock, and the Bureau of National Affairs?

Accepted Answer

A) Research Institute of America. 
B) Commerce Clearing House. 
C) LexisNexis. 
D) Prentice-Hall. 
E) None of the above. 
A) Research Institute of America. 
B) Commerce Clearing House. 
C) LexisNexis. 
D) Prentice-Hall. 
E) None of the above.

Question 5

Which items tell taxpayers the IRS's reaction to certain court decisions?

Accepted Answer

A) Notices. 
B) Revenue Procedures. 
C) Revenue Rulings. 
D) Actions on Decisions. 
E) Procedural Regulations. 
A) Notices. 
B) Revenue Procedures. 
C) Revenue Rulings. 
D) Actions on Decisions. 
E) Procedural Regulations.

Question 6

Which publisher offers the United States Tax Reporter?

Accepted Answer

A) Research Institute of America. 
B) Commerce Clearing House. 
C) LexisNexis. 
D) Tax Analysts. 
E) None of the above. 
A) Research Institute of America. 
B) Commerce Clearing House. 
C) LexisNexis. 
D) Tax Analysts. 
E) None of the above.

Question 7

There is a direct conflict between a Code section adopted in 2004 and a treaty with France (signed in 2008).The Code section controls.

Accepted Answer

A) True 
 B)False

Question 8

Tax research involves which of the following procedures:

Accepted Answer

A) Identifying and refining the problem. 
B) Locating the appropriate tax law sources. 
C) Assessing the validity of the tax law sources. 
D) Follow-up. 
E) All of the above. 
A) Identifying and refining the problem. 
B) Locating the appropriate tax law sources. 
C) Assessing the validity of the tax law sources. 
D) Follow-up. 
E) All of the above.

Question 9

Which of the following journals is published by the American Institute of CPAs?

Accepted Answer

A) Journal of Taxation. 
B) Corporate Taxation. 
C) Tax Law Review. 
D) The Tax Advisor. 
E) All of the above. 
A) Journal of Taxation. 
B) Corporate Taxation. 
C) Tax Law Review. 
D) The Tax Advisor. 
E) All of the above.

Question 10

Determination letters usually involve proposed transactions.

Accepted Answer

A) True 
 B)False

Question 11

Which court decision would probably carry more weight?

Accepted Answer

A) Regular U.S.Tax Court decision. 
B) Reviewed U.S.Tax Court decision. 
C) U.S.District Court decision. 
D) Memorandum Tax Court decision. 
E) U.S.Court of Federal Claims. 
A) Regular U.S.Tax Court decision. 
B) Reviewed U.S.Tax Court decision. 
C) U.S.District Court decision. 
D) Memorandum Tax Court decision. 
E) U.S.Court of Federal Claims.

Question 12

A Temporary Regulation under § 173 of the Code would be cited as follows: Temp.Reg.§ 173.

Accepted Answer

A) True 
 B)False

Question 13

The Index to Federal Tax Articles (published by Warren, Gorham, and Lamont) is available in print and electronic formats.

Accepted Answer

A) True 
 B)False

Question 14

There are 11 geographic U.S.Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 15

Subchapter P refers to the "Partners and Partnerships" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 16

The U.S.Tax Court meets most often in Washington,
D.C.

Accepted Answer

A) True 
 B)False

Question 17

The Golsen rule has been overturned by the U.S.Supreme Court.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is not an administrative source of tax law?

Accepted Answer

A) Reg.§ 301.6114-1. 
B) Section 2(a)(1)(
A) . 
C) Rev.Rul.2011-19. 
D) Notice 90-20. 
E) Ltr.Rul 201008049. 
A) Reg.§ 301.6114-1. 
B) Section 2(a)(1)(
A) . 
C) Rev.Rul.2011-19. 
D) Notice 90-20. 
E) Ltr.Rul 201008049.

Question 19

Which would not be a citation to a District Court case?

Accepted Answer

A)  2004-1 USTC ¶ 60,478. 
B)  93 AFTR 2d 2004-668. 
C)  306 F. Supp. 2d 668. 
D)  97 TCM 1488. 
E)  All of the above are District Court cites. 
A)  2004-1 USTC ¶ 60,478. 
B)  93 AFTR 2d 2004-668. 
C)  306 F. Supp. 2d 668. 
D)  97 TCM 1488. 
E)  All of the above are District Court cites.

Question 20

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

Which of the following types of Regulations has the lowest tax validity?

A Revenue Ruling is a judicial source of Federal tax law.

The following citation is correct: Larry G.Mitchell, 131 T.C.215 (2008).

Which publisher offers Tax Center that provides the Code, Regulations, and material from Matthew Bender, CCH, Kleinrock, and the Bureau of National Affairs?

Which items tell taxpayers the IRS's reaction to certain court decisions?

Which publisher offers the United States Tax Reporter?

There is a direct conflict between a Code section adopted in 2004 and a treaty with France (signed in 2008).The Code section controls.

Tax research involves which of the following procedures:

Which of the following journals is published by the American Institute of CPAs?

Determination letters usually involve proposed transactions.

Which court decision would probably carry more weight?

A Temporary Regulation under § 173 of the Code would be cited as follows: Temp.Reg.§ 173.

The Index to Federal Tax Articles (published by Warren, Gorham, and Lamont) is available in print and electronic formats.

There are 11 geographic U.S.Circuit Court of Appeals.

Subchapter P refers to the "Partners and Partnerships" section of the Internal Revenue Code.

The U.S.Tax Court meets most often in Washington, D.C.

The Golsen rule has been overturned by the U.S.Supreme Court.

Which of the following is not an administrative source of tax law?

Which would not be a citation to a District Court case?

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

An Introduction to Taxation and Understanding the Federal Tax Law

Computing the Tax

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

Tax Credits and Payments

A: Property Transactions: Determination of Gain or Loss, Basis Considerations, and Nontaxable Exchanges-Part 1

Property Transactions: Determination of Gain or Loss, Basis Considerations, and Nontaxable Exchanges-Part 2

Property Transactions: Capital Gains and Losses, 1231, Recapture Provisions

Alternative Minimum Tax

Accounting Periods and Methods

Corporations: Introduction and Operating Rules

Corporations: Organization and Capital Structure

Corporations: Distributions Not in Complete Liquidation

Corporations: Distributions in Complete Liquidation and an Overview of Reorganizations

Partnerships

S: Corporations

Exempt Entities

Multistate Corporate Taxation

Taxation of International Transactions

Tax Practice and Ethics

Income Taxation of Trusts and Estates

Filters