Question 1

According to the AICPA's Statements on Standards for Tax Services, what duties does the tax practitioner owe the client?

Accepted Answer

The tax practitioner owes the client the

Question 2

A tax case cannot be appealed when initiated in the

Accepted Answer

A) U)S. Court of Federal Claims. 
B) U)S. Tax Court. 
C) U)S. Tax Court using the small case procedures. 
D) none of the above 
A) U)S. Court of Federal Claims. 
B) U)S. Tax Court. 
C) U)S. Tax Court using the small case procedures. 
D) none of the above

Question 3

Distinguish between an annotated tax service and a topical tax service.

Accepted Answer

An annotated tax service is organized by

Question 4

A citator enables tax researchers to locate authorities (e.g., cases and IRS pronouncements)that have cited a particular case.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following statements about the Statements on Standards for Tax Services is true?

Accepted Answer

A) A CPA is never allowed to use a taxpayer's estimates when preparing a tax return. 
B) The CPA must tell the IRS upon becoming aware that an error has been made on a past tax return. 
C) The CPA may in good faith rely on information provided by the taxpayer, without verifying the reliability of that information if reasonable inquiries are made where the information furnished appears to be incorrect. 
D) The CPA should not recommend that a taxpayer take a certain position if there is any doubt as to whether the position would be approved by the IRS upon audit. 
A) A CPA is never allowed to use a taxpayer's estimates when preparing a tax return. 
B) The CPA must tell the IRS upon becoming aware that an error has been made on a past tax return. 
C) The CPA may in good faith rely on information provided by the taxpayer, without verifying the reliability of that information if reasonable inquiries are made where the information furnished appears to be incorrect. 
D) The CPA should not recommend that a taxpayer take a certain position if there is any doubt as to whether the position would be approved by the IRS upon audit.

Question 6

If the U.S. Supreme Court decides to hear an appeal a tax case, it will grant a

Accepted Answer

A) writ of appeal. 
B) writ of certiorari. 
C) writ of detainer. 
D) writ of habeas corpus. 
A) writ of appeal. 
B) writ of certiorari. 
C) writ of detainer. 
D) writ of habeas corpus.

Question 7

Which of the following is secondary authority?

Accepted Answer

A) Internal Revenue Code 
B) Treasury Regulations 
C) RIA and CCH tax services 
D) Revenue Ruling 
A) Internal Revenue Code 
B) Treasury Regulations 
C) RIA and CCH tax services 
D) Revenue Ruling

Question 8

Identify which of the following statements is true.

Accepted Answer

A) Tax planning is an integral part of both closed-fact situations and open-fact situations. 
B) The first step in conducting tax research is to clearly understand the issues involved. 
C) The Statements on Standards for Tax Services recommend that only written tax advice be provided to the client in all situations. 
D) All of the above are false. 
A) Tax planning is an integral part of both closed-fact situations and open-fact situations. 
B) The first step in conducting tax research is to clearly understand the issues involved. 
C) The Statements on Standards for Tax Services recommend that only written tax advice be provided to the client in all situations. 
D) All of the above are false.

Question 9

According to the Statements on Standards for Tax Services, CPAs must verify all tax return information submitted by reviewing client documentation.

Accepted Answer

A) True 
 B)False

Question 10

According to the Statements on Standards for Tax Services, what belief should a CPA have before taking a pro-taxpayer position on a tax return?

Accepted Answer

The CPA should have a good faith belief

Question 11

A revenue ruling is issued by the Internal Revenue Service only in response to a verbal inquiry by a taxpayer.

Accepted Answer

A) True 
 B)False

Question 12

Identify which of the following statements is false.

Accepted Answer

A) Citations to the AFTR and the USTC are referred to as secondary citations. 
B) A circuit court of appeals must follow the opinion of another circuit court of appeals if the latter appeals court has previously ruled on the tax issue. 
C) A U.S. Supreme Court opinion in a tax matter has the same status as Congressional tax legislation. 
D) Circuit Court decisions are reported in the Federal Reporter. 
A) Citations to the AFTR and the USTC are referred to as secondary citations. 
B) A circuit court of appeals must follow the opinion of another circuit court of appeals if the latter appeals court has previously ruled on the tax issue. 
C) A U.S. Supreme Court opinion in a tax matter has the same status as Congressional tax legislation. 
D) Circuit Court decisions are reported in the Federal Reporter.

Question 13

In all situations, tax considerations are of primary importance. Do you agree or disagree? Support your answer.

Accepted Answer

It is important to consider nontax objec

Question 14

In 1998, Congress passed legislation concerning shifting the burden of proof to the IRS. The taxpayer must introduce "credible evidence" to shift the burden of proof to the IRS. What constitutes "credible evidence?"

Accepted Answer

The term is not defined in the IRC. Beca

Question 15

What are some of the factors to consider when deciding in which court to file a tax-related claim?

Accepted Answer

Factors to consider include ea

Question 16

Check the supplementary (current developments)material.

Accepted Answer

I'm sorry, but as an AI, I don't have th

Question 17

Explain how committee reports can be used in tax research. What do they indicate?

Accepted Answer

Committee reports can help res

Question 18

A tax bill introduced in the House of Representatives is then

Accepted Answer

A) referred to the House Ways and Means Committee for hearings and approval. 
B) referred to the entire House for hearings. 
C) voted upon by the entire House. 
D) forwarded to the Senate Finance Committee for consideration. 
A) referred to the House Ways and Means Committee for hearings and approval. 
B) referred to the entire House for hearings. 
C) voted upon by the entire House. 
D) forwarded to the Senate Finance Committee for consideration.

Question 19

Internet versions of topical tax services include

Accepted Answer

A) Code and Regulations. 
B) Revenue rulings, letter rulings, and revenue procedures. 
C) Court cases involving tax issues. 
D) All of the above. 
A) Code and Regulations. 
B) Revenue rulings, letter rulings, and revenue procedures. 
C) Court cases involving tax issues. 
D) All of the above.

Question 20

Explain the legislative reenactment doctrine.

Accepted Answer

Under the legislative reenactment doctri

According to the AICPA's Statements on Standards for Tax Services, what duties does the tax practitioner owe the client?

A tax case cannot be appealed when initiated in the

Distinguish between an annotated tax service and a topical tax service.

A citator enables tax researchers to locate authorities (e.g., cases and IRS pronouncements)that have cited a particular case.

Which of the following statements about the Statements on Standards for Tax Services is true?

If the U.S. Supreme Court decides to hear an appeal a tax case, it will grant a

Which of the following is secondary authority?

Identify which of the following statements is true.

According to the Statements on Standards for Tax Services, CPAs must verify all tax return information submitted by reviewing client documentation.

According to the Statements on Standards for Tax Services, what belief should a CPA have before taking a pro-taxpayer position on a tax return?

A revenue ruling is issued by the Internal Revenue Service only in response to a verbal inquiry by a taxpayer.

Identify which of the following statements is false.

In all situations, tax considerations are of primary importance. Do you agree or disagree? Support your answer.

In 1998, Congress passed legislation concerning shifting the burden of proof to the IRS. The taxpayer must introduce "credible evidence" to shift the burden of proof to the IRS. What constitutes "credible evidence?"

What are some of the factors to consider when deciding in which court to file a tax-related claim?

Check the supplementary (current developments)material.

Explain how committee reports can be used in tax research. What do they indicate?

A tax bill introduced in the House of Representatives is then

Internet versions of topical tax services include

Explain the legislative reenactment doctrine.

An Introduction to Taxation

Determination of Tax

Gross Income: Inclusions

Gross Income: Exclusions

Property Transactions: Capital Gains and Losses

Deductions and Losses

Itemized Deductions

Losses and Bad Debts

Employee Expenses and Deferred Compensation

Depreciation, Cost Recovery, Amortization, and Depletion

Accounting Periods and Methods

Property Transactions: Nontaxable Exchanges

Property Transactions: Section 1231 and Recapture

Special Tax Computation Methods, Tax Credits, and Payment of Tax

Corporations

Partnerships and S Corporations

Taxes and Investment Planning

Filters

Exam 15: Tax Research

According to the AICPA's Statements on Standards for Tax Services, what duties does the tax practitioner owe the client?

A tax case cannot be appealed when initiated in the

Distinguish between an annotated tax service and a topical tax service.

A citator enables tax researchers to locate authorities (e.g., cases and IRS pronouncements)that have cited a particular case.

Which of the following statements about the Statements on Standards for Tax Services is true?

If the U.S. Supreme Court decides to hear an appeal a tax case, it will grant a

Which of the following is secondary authority?

Identify which of the following statements is true.

According to the Statements on Standards for Tax Services, CPAs must verify all tax return information submitted by reviewing client documentation.

According to the Statements on Standards for Tax Services, what belief should a CPA have before taking a pro-taxpayer position on a tax return?

A revenue ruling is issued by the Internal Revenue Service only in response to a verbal inquiry by a taxpayer.

Identify which of the following statements is false.

In all situations, tax considerations are of primary importance. Do you agree or disagree? Support your answer.

In 1998, Congress passed legislation concerning shifting the burden of proof to the IRS. The taxpayer must introduce "credible evidence" to shift the burden of proof to the IRS. What constitutes "credible evidence?"

What are some of the factors to consider when deciding in which court to file a tax-related claim?

Check the supplementary (current developments)material.

Explain how committee reports can be used in tax research. What do they indicate?

A tax bill introduced in the House of Representatives is then

Internet versions of topical tax services include

Explain the legislative reenactment doctrine.

An Introduction to Taxation

Determination of Tax

Gross Income: Inclusions

Gross Income: Exclusions

Property Transactions: Capital Gains and Losses

Deductions and Losses

Itemized Deductions

Losses and Bad Debts

Employee Expenses and Deferred Compensation

Depreciation, Cost Recovery, Amortization, and Depletion

Accounting Periods and Methods

Property Transactions: Nontaxable Exchanges

Property Transactions: Section 1231 and Recapture

Special Tax Computation Methods, Tax Credits, and Payment of Tax

Corporations

Partnerships and S Corporations

Taxes and Investment Planning

Filters