Question 1

How can Congressional Committee Reports be used by a tax researcher?

Accepted Answer

Congressional Committee Reports often ex

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

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 4

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

Accepted Answer

A) True 
 B)False

Question 5

The first codification of the tax law occurred in 1954.

Accepted Answer

A) True 
 B)False

Question 6

Temporary Regulations are only published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 7

Which Regulations have the force and effect of law?

Accepted Answer

A)  Procedural Regulations 
B)  Finalized Regulations 
C)  Legislative Regulations 
D)  Interpretive Regulations 
E)  All of these 
A)  Procedural Regulations 
B)  Finalized Regulations 
C)  Legislative Regulations 
D)  Interpretive Regulations 
E)  All of these

Question 8

Which company does not publish citators for tax purposes?

Accepted Answer

A)  John Wiley & Sons 
B)  Commerce Clearing House 
C)  Thomson Reuters (RI
A)  
D)  Westlaw 
E)  Shepard's 
A)  John Wiley & Sons 
B)  Commerce Clearing House 
C)  Thomson Reuters (RI
A)  
D)  Westlaw 
E)  Shepard's

Question 9

The granting of a Writ of Certiorari indicates that at least four members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following sources has the highest tax validity?

Accepted Answer

A)  Revenue Ruling 
B)  Revenue Procedure 
C)  Regulations 
D)  Internal Revenue Code section 
E)  None of these 
A)  Revenue Ruling 
B)  Revenue Procedure 
C)  Regulations 
D)  Internal Revenue Code section 
E)  None of these

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

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 13

A taxpayer may not appeal a case from which court:

Accepted Answer

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

Question 14

A researcher can find tax information on home page sites of:

Accepted Answer

A)  Governmental bodies. 
B)  Tax academics. 
C)  Publishers. 
D)  CPA firms. 
E)  All of these. 
A)  Governmental bodies. 
B)  Tax academics. 
C)  Publishers. 
D)  CPA firms. 
E)  All of these.

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Revenue Rulings are first published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 17

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)  Tax Court Memorandum 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)  Tax Court Memorandum decision 
E)  U.S. Court of Federal Claims

Question 18

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016). The Internal Revenue Code section controls.

Accepted Answer

A) True 
 B)False

Question 19

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 20

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties (some

Exam 2: Working with the Tax Law

How can Congressional Committee Reports be used by a tax researcher?

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

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

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

The first codification of the tax law occurred in 1954.

Temporary Regulations are only published in the Internal Revenue Bulletin.

Which Regulations have the force and effect of law?

Which company does not publish citators for tax purposes?

The granting of a Writ of Certiorari indicates that at least four members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.

Which of the following sources has the highest tax validity?

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

Federal tax legislation generally originates in which of the following?

A taxpayer may not appeal a case from which court:

A researcher can find tax information on home page sites of:

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

Revenue Rulings are first published in the Internal Revenue Bulletin.

Which court decision would probably carry more weight?

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016). The Internal Revenue Code section controls.

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

How do treaties fit within tax sources?

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, Section 1231, and Recapture Provisions

Taxing Business Income

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

The Federal Gift and Estate Taxes

Income Taxation of Trusts and Estates

Filters