Question 1

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Accepted Answer

A) True 
 B)False

Question 2

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 3

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 4

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 5

In a U.S.District Court,a jury can decide both questions of fact and questions of law.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following indicates that a decision has precedential value for future cases?

Accepted Answer

A) Stare decisis 
B) Golsen doctrine 
C) En banc 
D) Reenactment doctrine 
E) None of these 
A) Stare decisis 
B) Golsen doctrine 
C) En banc 
D) Reenactment doctrine 
E) None of these

Question 7

Which is presently not a major tax service?

Accepted Answer

A) Standard Federal Tax Reporter 
B) Federal Taxes 
C) United States Tax Reporter 
D) Tax Management Portfolios 
E) All of these are major tax services 
A) Standard Federal Tax Reporter 
B) Federal Taxes 
C) United States Tax Reporter 
D) Tax Management Portfolios 
E) All of these are major tax services

Question 8

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 9

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme

Question 10

Revenue Rulings issued by the National Office of the IRS carry the same legal force and effect as Regulations.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) Temporary 
B) Legislative 
C) Interpretive 
D) Procedural 
E) None of these 
A) Temporary 
B) Legislative 
C) Interpretive 
D) Procedural 
E) None of these

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Accepted Answer

A) True 
 B)False

Question 14

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 15

Which publisher offers the United States Tax Reporter?

Accepted Answer

A) Research Institute of America (Thomson Reuters) 
B) Commerce Clearing House 
C) LexisNexis 
D) Tax Analysts 
E) None of these 
A) Research Institute of America (Thomson Reuters) 
B) Commerce Clearing House 
C) LexisNexis 
D) Tax Analysts 
E) None of these

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

When searching on an electronic (online) tax service,which approach is more frequently used?

Accepted Answer

A) Internal Revenue Code section approach 
B) Keyword approach 
C) Table of contents approach 
D) Index 
E) All are about the same 
A) Internal Revenue Code section approach 
B) Keyword approach 
C) Table of contents approach 
D) Index 
E) All are about the same

Question 18

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Accepted Answer

A) True 
 B)False

Question 19

A U.S.District Court is the lowest trial court.

Accepted Answer

A) True 
 B)False

Question 20

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

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

In a U.S.District Court,a jury can decide both questions of fact and questions of law.

Which of the following indicates that a decision has precedential value for future cases?

Which is presently not a major tax service?

Which is not a primary source of tax law?

Compare Revenue Rulings with Revenue Procedures.

Revenue Rulings issued by the National Office of the IRS carry the same legal force and effect as Regulations.

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

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

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

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

Which publisher offers the United States Tax Reporter?

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

When searching on an electronic (online) tax service,which approach is more frequently used?

A tax professional need not worry about the relative weight of authority within the various tax law sources.

A U.S.District Court is the lowest trial court.

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

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