Question 1

Which of the following courts is a trial court for tax cases?

Accepted Answer

A) U.S. Supreme Court. 
B) U.S. District Court. 
C) U.S. Court of Appeals. 
D) U.S. Court of Appeals for the Federal Circuit. 
A) U.S. Supreme Court. 
B) U.S. District Court. 
C) U.S. Court of Appeals. 
D) U.S. Court of Appeals for the Federal Circuit.

Question 2

Tax articles in law review journals are primary sources of federal income tax law.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following are numbered to match the Code section to which they are related?

Accepted Answer

A) Private Letter Rulings. 
B) Revenue Rulings. 
C) Treasury Regulations. 
D) All of the above. 
A) Private Letter Rulings. 
B) Revenue Rulings. 
C) Treasury Regulations. 
D) All of the above.

Question 4

Tara does not agree with a proposed deficiency of additional tax resulting from an examination of her individual income tax return. She has not been able to satisfactorily resolve her case within the administrative processes of the Internal Revenue Service. Which of the following courts may she petition without first making payment of the contested deficiency?

Accepted Answer

A) United States Tax Court. 
B) United States District Court. 
C) U.S. Court of Federal Claims. 
D) Any of the above. 
A) United States Tax Court. 
B) United States District Court. 
C) U.S. Court of Federal Claims. 
D) Any of the above.

Question 5

Title 26 of the U.S. Code includes
I.Bankruptcy legislation.
II.Employment tax legislation.
III.Estate and Gift tax legislation.
IV.Alcohol and Tobacco tax legislation.
​

Accepted Answer

A) Only statement II is correct. 
B) Statements II and III are correct. 
C) Statements II, III, and IV are correct. 
D) Statements I, II, III, and IV are correct. 
E) None of the above are in Title 26. 
A) Only statement II is correct. 
B) Statements II and III are correct. 
C) Statements II, III, and IV are correct. 
D) Statements I, II, III, and IV are correct. 
E) None of the above are in Title 26.

Question 6

The most important source of current federal income tax law is the

Accepted Answer

A) Internal Revenue Code of 1986, as amended. 
B) IRS. 
C) U.S. Supreme Court. 
D) U.S. Tax Court. 
A) Internal Revenue Code of 1986, as amended. 
B) IRS. 
C) U.S. Supreme Court. 
D) U.S. Tax Court.

Question 7

Which of the following Administrative sources has the highest level of authority?

Accepted Answer

A) Revenue Ruling 
B) Nonacquiescence 
C) Treasury Regulation 
D) General Counsel Memorandum 
E) Private Letter Ruling 
A) Revenue Ruling 
B) Nonacquiescence 
C) Treasury Regulation 
D) General Counsel Memorandum 
E) Private Letter Ruling

Question 8

Which of the following regulations deals with Income Tax?

Accepted Answer

A) Reg. Sec. 1.165-1 
B) Reg. Sec. 20.2014-5 
C) Reg. Sec. 25.2518-5 
D) Reg. Sec. 301.7002-5 
A) Reg. Sec. 1.165-1 
B) Reg. Sec. 20.2014-5 
C) Reg. Sec. 25.2518-5 
D) Reg. Sec. 301.7002-5

Question 9

Match each statement with the correct term below.
-Treasury Department

Accepted Answer

A) Where federal tax legislation generally originates. 
B) Has jurisdiction over all tax matters in the U.S. Senate. 
C) The committee responsible for initial hearings and deliberations on a tax bill. 
D) Responsible for negotiating a resolution of the differences in the House and Senate versions of a tax bill. 
E) The agency within the administrative branch of government with overall responsibility for administration of tax law.
F)Oversees the operation and administration of the tax system as a whole, and prepares a general explanation of any tax bill signed by the President. 
A) Where federal tax legislation generally originates. 
B) Has jurisdiction over all tax matters in the U.S. Senate. 
C) The committee responsible for initial hearings and deliberations on a tax bill. 
D) Responsible for negotiating a resolution of the differences in the House and Senate versions of a tax bill. 
E) The agency within the administrative branch of government with overall responsibility for administration of tax law.
F)Oversees the operation and administration of the tax system as a whole, and prepares a general explanation of any tax bill signed by the President.

Question 10

What body has jurisdiction over all tax matters and is responsible for initiating tax legislation?

Accepted Answer

A) Joint Conference Committee. 
B) Joint Committee on Taxation. 
C) House Ways and Means Committee. 
D) Judiciary Committee. 
E) Senate Finance Committee. 
A) Joint Conference Committee. 
B) Joint Committee on Taxation. 
C) House Ways and Means Committee. 
D) Judiciary Committee. 
E) Senate Finance Committee.

Question 11

Rewrite each of the following citations in proper form:
a.Subsection (b) of the third treasury regulation issued under Code Section 614 (Income Tax).
b.Revenue Ruling 72-151, found on page 88 of the second cumulative bulletin of 1972.
c.Metropolitan Laundry Co., case 52-1 USTC 9129 Vol 100 Federal Supplement at page 803 District Court of California.
d.Henry M. Rodney (Tax Court 1969), volume 53 Reports of the U.S Tax Court, page 287.
e.Paragraph 3 of subsection b, Section 217 of the Internal Revenue Code of 1986.

Accepted Answer

a. Reg. Sec. 1.614-3(b).

b. Rev. Rul. 7

Question 12

Which of the following is not true of the Supreme Court's appellate jurisdiction?

Accepted Answer

A) All appealed cases can reach the Supreme Court through the Writ of Certiorari and be heard at that level. 
B) Review by the Supreme Court is almost entirely discretionary. 
C) For most taxpayers, the final review is at the Court of Appeals level because the Supreme Court does not hear many tax cases. 
D) The Supreme Court's decision not to grant a Writ of Certiorari means that the decision of the lower court still stands. 
A) All appealed cases can reach the Supreme Court through the Writ of Certiorari and be heard at that level. 
B) Review by the Supreme Court is almost entirely discretionary. 
C) For most taxpayers, the final review is at the Court of Appeals level because the Supreme Court does not hear many tax cases. 
D) The Supreme Court's decision not to grant a Writ of Certiorari means that the decision of the lower court still stands.

Question 13

Title 26 of the United States Code is commonly referred to as the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following statements concerning the Internal Revenue Code is true?
I.The most current tax laws may be found in the Internal Revenue Code of 2016.
II.A tax treaty may override the Code.
III.The most common references to a particular part of the Code are to a section.
IV.The Internal Revenue Code is considered a secondary source of tax law.
​

Accepted Answer

A) Statements I and II are correct. 
B) Statements I and III are correct. 
C) Statements II and III are correct. 
D) Statements II and IV are correct. 
E) Only II is correct. 
A) Statements I and II are correct. 
B) Statements I and III are correct. 
C) Statements II and III are correct. 
D) Statements II and IV are correct. 
E) Only II is correct.

Question 15

Greene is an individual taxpayer residing in Colorado (the Tenth Circuit). She has a disagreement with the IRS on a transaction. Her former accountant told her that she has "less than a 50/50 chance of winning." However, she was recently told of one case with similar facts that was decided in a way that would favor Greene. The U.S. Circuit Court of Appeals for the Fifth Circuit decided that case. If Greene takes her case to the U.S. Tax Court, should she feel confident of prevailing? Explain.

Accepted Answer

The Golsen rule states that the Tax Cour

Question 16

Match the primary source to its reporter.
-Appeals Court decision

Accepted Answer

A) Tax Court Reports 
B) United States Tax Cases 
C) Internal Revenue Code 
D) Cumulative Bulletin 
E) Not a primary source 
A) Tax Court Reports 
B) United States Tax Cases 
C) Internal Revenue Code 
D) Cumulative Bulletin 
E) Not a primary source

Question 17

Which of the following is/ are appellate level courts for tax cases?
I.U.S. Court of Federal Claims.
II.U.S. Supreme Court.
III.U.S. Court of Appeals for the Federal Circuit.
IV.U.S. Court of Appeals for the Tenth Circuit.
V.U.S. District Court.
​

Accepted Answer

A) Only statement V is correct. 
B) Only statement II is correct. 
C) Statements I and V are correct. 
D) Statements II, III, and IV are correct. 
E) Statements I, II, III, IV, and V are correct. 
A) Only statement V is correct. 
B) Only statement II is correct. 
C) Statements I and V are correct. 
D) Statements II, III, and IV are correct. 
E) Statements I, II, III, IV, and V are correct.

Question 18

The acquiescence policy of the IRS extends to

Accepted Answer

A) the U.S. Tax Court 
B) the U.S. District Court 
C) the U.S. Circuit Court of Appeals 
D) All of the above 
A) the U.S. Tax Court 
B) the U.S. District Court 
C) the U.S. Circuit Court of Appeals 
D) All of the above

Question 19

Which regulation deals with Code Section 170?

Accepted Answer

A) Reg. Sec. 1.170-5 
B) Reg. Sec. 170.162-5 
C) Reg. Sec. 1.5-170 
D) Reg. Sec. 170 
E) Reg. Sec. 170.25-5 
A) Reg. Sec. 1.170-5 
B) Reg. Sec. 170.162-5 
C) Reg. Sec. 1.5-170 
D) Reg. Sec. 170 
E) Reg. Sec. 170.25-5

Question 20

The Tax Court will not necessarily follow a U.S. Court of Appeal decision unless the taxpayer lives in the geographic jurisdiction of the appellate court.

Accepted Answer

A) True 
 B)False

Which of the following courts is a trial court for tax cases?

Tax articles in law review journals are primary sources of federal income tax law.

Which of the following are numbered to match the Code section to which they are related?

Title 26 of the U.S. Code includes I.Bankruptcy legislation. II.Employment tax legislation. III.Estate and Gift tax legislation. IV.Alcohol and Tobacco tax legislation.

The most important source of current federal income tax law is the

Which of the following Administrative sources has the highest level of authority?

Which of the following regulations deals with Income Tax?

Match each statement with the correct term below. -Treasury Department

What body has jurisdiction over all tax matters and is responsible for initiating tax legislation?

Which of the following is not true of the Supreme Court's appellate jurisdiction?

Title 26 of the United States Code is commonly referred to as the Internal Revenue Code.

Match the primary source to its reporter. -Appeals Court decision

Which of the following is/ are appellate level courts for tax cases? I.U.S. Court of Federal Claims. II.U.S. Supreme Court. III.U.S. Court of Appeals for the Federal Circuit. IV.U.S. Court of Appeals for the Tenth Circuit. V.U.S. District Court.

The acquiescence policy of the IRS extends to

Which regulation deals with Code Section 170?

The Tax Court will not necessarily follow a U.S. Court of Appeal decision unless the taxpayer lives in the geographic jurisdiction of the appellate court.

Federal Income Taxation-An Overview

Income Tax Concepts

Income Sources

Income Exclusions

Introduction to Business Expenses

Business Expenses

Losses-Deductions and Limitations

Taxation of Individuals

Acquisitions of Property

Cost Recovery on Property: Depreciation, Depletion, and Amortization

Property Dispositions

Non-Recognition Transactions

Choice of Business Entity-General Tax and Nontax Factorsformation

Choice of Business Entity-Operations and Distributions

Choice of Business Entity-Other Considerations

Filters

Exam 16: Tax Research

Which of the following courts is a trial court for tax cases?

Tax articles in law review journals are primary sources of federal income tax law.

Which of the following are numbered to match the Code section to which they are related?

Title 26 of the U.S. Code includes I.Bankruptcy legislation. II.Employment tax legislation. III.Estate and Gift tax legislation. IV.Alcohol and Tobacco tax legislation. ​

The most important source of current federal income tax law is the

Which of the following Administrative sources has the highest level of authority?

Which of the following regulations deals with Income Tax?

Match each statement with the correct term below. -Treasury Department

What body has jurisdiction over all tax matters and is responsible for initiating tax legislation?

Which of the following is not true of the Supreme Court's appellate jurisdiction?

Title 26 of the United States Code is commonly referred to as the Internal Revenue Code.

Match the primary source to its reporter. -Appeals Court decision

Which of the following is/ are appellate level courts for tax cases? I.U.S. Court of Federal Claims. II.U.S. Supreme Court. III.U.S. Court of Appeals for the Federal Circuit. IV.U.S. Court of Appeals for the Tenth Circuit. V.U.S. District Court. ​

The acquiescence policy of the IRS extends to

Which regulation deals with Code Section 170?

The Tax Court will not necessarily follow a U.S. Court of Appeal decision unless the taxpayer lives in the geographic jurisdiction of the appellate court.

Federal Income Taxation-An Overview

Income Tax Concepts

Income Sources

Income Exclusions

Introduction to Business Expenses

Business Expenses

Losses-Deductions and Limitations

Taxation of Individuals

Acquisitions of Property

Cost Recovery on Property: Depreciation, Depletion, and Amortization

Property Dispositions

Non-Recognition Transactions

Choice of Business Entity-General Tax and Nontax Factorsformation

Choice of Business Entity-Operations and Distributions

Choice of Business Entity-Other Considerations

Filters

Title 26 of the U.S. Code includes I.Bankruptcy legislation. II.Employment tax legislation. III.Estate and Gift tax legislation. IV.Alcohol and Tobacco tax legislation.

Which of the following is/ are appellate level courts for tax cases? I.U.S. Court of Federal Claims. II.U.S. Supreme Court. III.U.S. Court of Appeals for the Federal Circuit. IV.U.S. Court of Appeals for the Tenth Circuit. V.U.S. District Court.