Question 1

A "Bluebook" is substantial authority for purposes of the accuracy related penalty.

Accepted Answer

A) True 
 B)False

Question 2

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 3

A taxpayer can obtain a jury trial in the U.S.Tax Court.

Accepted Answer

A) True 
 B)False

Question 4

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 5

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

There is a direct conflict between an Internal Revenue Code section adopted in 2008 and a treaty with France (signed in 2012).The Internal Revenue Code section controls.

Accepted Answer

A) True 
 B)False

Question 8

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

Accepted Answer

There is no appeal from the Small Cases

Question 9

The research process should always begin with a tax service.

Accepted Answer

A) True 
 B)False

Question 10

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

Accepted Answer

A) True 
 B)False

Question 11

A taxpayer who loses in a U.S.District Court may appeal directly to the:

Accepted Answer

A) U.S. Supreme Court. 
B) U.S. Tax Court. 
C) U.S. Court of Federal Claims. 
D) U.S. Circuit Court of Appeals. 
E) All of these. 
A) U.S. Supreme Court. 
B) U.S. Tax Court. 
C) U.S. Court of Federal Claims. 
D) U.S. Circuit Court of Appeals. 
E) All of these.

Question 12

Which statement is incorrect with respect to taxation on the CPA exam?

Accepted Answer

A) The CPA exam now has only four parts. 
B) There are no longer task-based simulations on the exam. 
C) A candidate may not go back after exiting a testlet. 
D) Simulations include a four-function pop-up calculator. 
E) None of these are incorrect. 
A) The CPA exam now has only four parts. 
B) There are no longer task-based simulations on the exam. 
C) A candidate may not go back after exiting a testlet. 
D) Simulations include a four-function pop-up calculator. 
E) None of these are incorrect.

Question 13

In addressing the importance of a Regulation,an IRS agent must:

Accepted Answer

A) Give equal weight to the Internal Revenue Code and the Regulations. 
B) Give more weight to the Internal Revenue Code rather than to a Regulation. 
C) Give more weight to the Regulation rather than to the Internal Revenue Code. 
D) Give less weight to the Internal Revenue Code rather than to a Regulation. 
E) None of these. 
A) Give equal weight to the Internal Revenue Code and the Regulations. 
B) Give more weight to the Internal Revenue Code rather than to a Regulation. 
C) Give more weight to the Regulation rather than to the Internal Revenue Code. 
D) Give less weight to the Internal Revenue Code rather than to a Regulation. 
E) None of these.

Question 14

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

Accepted Answer

The U.S.Tax Court hears only tax cases a

Question 15

In recent years,Congress has been relatively successful in simplifying the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 16

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

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

Question 18

Federal tax legislation generally originates in which of the following?

Accepted Answer

A) Internal Revenue Service 
B) Senate Finance Committee 
C) House Ways and Means Committee 
D) Senate Floor 
E) None of these 
A) Internal Revenue Service 
B) Senate Finance Committee 
C) House Ways and Means Committee 
D) Senate Floor 
E) None of these

Question 19

A jury trial is available in the following trial court:

Accepted Answer

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

Question 20

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases

Exam 2: Working With the Tax Law

A "Bluebook" is substantial authority for purposes of the accuracy related penalty.

The Internal Revenue Code was first codified in what year?

A taxpayer can obtain a jury trial in the U.S.Tax Court.

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

Technical Advice Memoranda deal with completed transactions.

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

There is a direct conflict between an Internal Revenue Code section adopted in 2008 and a treaty with France (signed in 2012).The Internal Revenue Code section controls.

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

The research process should always begin with a tax service.

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

A taxpayer who loses in a U.S.District Court may appeal directly to the:

Which statement is incorrect with respect to taxation on the CPA exam?

In addressing the importance of a Regulation,an IRS agent must:

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

In recent years,Congress has been relatively successful in simplifying the Internal Revenue Code.

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

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

Federal tax legislation generally originates in which of the following?

A jury trial is available in the following trial court:

What is a Technical Advice Memorandum?

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

Property Transactions: Determination of Gain or Loss, basis Considerations, and Nontaxable Exchanges

Property Transactions, capital Gains and Losses, sec1231, and 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 Reorganization

Partnerships

S Corporations

Exempt Entities

Multistate Corporate Taxation

Taxation of International Transactions

Tax Practice and Ethics

The Federal Gift and Estate Taxes

Income Taxation of Trusts and Estates

Filters