Exam 15: Tax Research

Ralph's business records were lost as a result of Hurricane Katrina. CPA Jane prepares Ralph's return using estimates. What do the Statements on Standards for Tax Services state about the use of estimates?

According to the Statements on Standards for Tax Services, if a CPA believes that a client's prior-year tax return contains false information, the CPA should report this to the

Small case procedures of the U.S. Tax Court requires that the amount in dispute not exceed

The phrase "Entered under Rule 155" indicates that

Compare and contrast "interpretative" and "statutory" regulations.

The term "tax law" includes

Read the applicable material.

The tax statutes with the popular name "The Internal Revenue Code of 1986" are contained in which Title of the Code?

In list form, outline the steps to follow when using a tax service.

The issues must be determined. The issues may not always be clear and may be different than the client believes. Thus, only a thorough understanding of the facts permits an adequate formulation of the issues.

Identify which of the following statements is true.

A client wants to take a tax return position with less than a 10% probability of being upheld in court. The CPA should

Identify which of the following statements is false.

In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.

The committee that is responsible for holding hearings on tax legislation for the House of Representatives is the

What are some of the consequences of the small cases procedure of the Tax Court?

Assume that you want to read a description of a particular area of the law, along with one or more illustrations of how that law is applied. You will not find that type of material in

The citation "Reg. Sec. 1.199-2" refers to

The Senate equivalent of the House Ways and Means Committee is the Senate

When a taxpayer contacts a tax advisor requesting advice as to the most advantageous way to dispose of a stock, the tax advisor is faced with