Question 1

Which of the following documents is issued by the IRS to a specific taxpayer?

Accepted Answer

A) regulation 
B) revenue procedure 
C) letter ruling 
D) information release 
A) regulation 
B) revenue procedure 
C) letter ruling 
D) information release

Question 2

Which regulation deals with Code Section 165?

Accepted Answer

A) Reg. Sec. 1.165-5 
B) Reg. Sec. 165.183-5 
C) Reg. Sec. 1.5-165 
D) Reg. Sec. 165-5 
A) Reg. Sec. 1.165-5 
B) Reg. Sec. 165.183-5 
C) Reg. Sec. 1.5-165 
D) Reg. Sec. 165-5

Question 3

Identify which of the following statements is false.

Accepted Answer

A) When tax advisors speak of the "tax law," they usually have in mind just the Internal Revenue Code. 
B) Members from both the House and the Senate are on the Conference Committee. 
C) Records of committee hearings are helpful in determining Congressional intent. 
D) All of the above are false. 
A) When tax advisors speak of the "tax law," they usually have in mind just the Internal Revenue Code. 
B) Members from both the House and the Senate are on the Conference Committee. 
C) Records of committee hearings are helpful in determining Congressional intent. 
D) All of the above are false.

Question 4

The Internal Revenue Code of 1986 contains the current version of the tax law.

Accepted Answer

A) True 
 B)False

Question 5

Appeals from the U.S. Tax Court are to the Court of Appeals for the Federal Circuit.

Accepted Answer

A) True 
 B)False

Question 6

Your client wants to deduct commuting expenses on his tax return. You explain to the client that there is no legal authority allowing this deduction. The client, however, continues to insist on this action. What guidance do the Statements on Standards for Tax Services provide in this dilemma?

Accepted Answer

According to Statement on Tax Standards,

Question 7

Which regulation deals with the gift tax?

Accepted Answer

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

Which of the following documents is issued by the IRS to a specific taxpayer?

Which regulation deals with Code Section 165?

Identify which of the following statements is false.

The Internal Revenue Code of 1986 contains the current version of the tax law.

Appeals from the U.S. Tax Court are to the Court of Appeals for the Federal Circuit.

Your client wants to deduct commuting expenses on his tax return. You explain to the client that there is no legal authority allowing this deduction. The client, however, continues to insist on this action. What guidance do the Statements on Standards for Tax Services provide in this dilemma?

Which regulation deals with the gift tax?

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

Which of the following documents is issued by the IRS to a specific taxpayer?

Which regulation deals with Code Section 165?

Identify which of the following statements is false.

The Internal Revenue Code of 1986 contains the current version of the tax law.

Appeals from the U.S. Tax Court are to the Court of Appeals for the Federal Circuit.

Your client wants to deduct commuting expenses on his tax return. You explain to the client that there is no legal authority allowing this deduction. The client, however, continues to insist on this action. What guidance do the Statements on Standards for Tax Services provide in this dilemma?

Which regulation deals with the gift tax?

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