Question 1

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 2

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

Accepted Answer

A) True 
 B)False

Question 3

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

Accepted Answer

A) True 
 B)False

Question 4

Determination letters usually involve completed transactions.

Accepted Answer

A) True 
 B)False

Question 5

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 6

Which is a primary source of tax law?

Accepted Answer

A)  Serverino R. Nico, Jr., 67 T.C. 647 1977). 
B)  Article by a Federal judge in Tax Notes. 
C)  An IRS publication. 
D)  Written determination letter. 
E)  All of the above are primary sources. 
A)  Serverino R. Nico, Jr., 67 T.C. 647 1977). 
B)  Article by a Federal judge in Tax Notes. 
C)  An IRS publication. 
D)  Written determination letter. 
E)  All of the above are primary sources.

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

The Internal Revenue Code was first codified in what year?

Accepted Answer

A)  1913 
B)  1923 
C)  1939 
D)  1954 
E)  1986 
A)  1913 
B)  1923 
C)  1939 
D)  1954 
E)  1986

Question 9

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 10

The term "petitioner" is a synonym for "defendant."

Accepted Answer

A) True 
 B)False

Question 11

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties somet

Question 12

What statement is not true with respect to Temporary Regulations?

Accepted Answer

A)  May not be cited as precedent. 
B)  Issued with Proposed Regulations. 
C)  Automatically expire within three years after the date of issuance. 
D)  Found in the Federal Register. 
E)  All of these statements are true. 
A)  May not be cited as precedent. 
B)  Issued with Proposed Regulations. 
C)  Automatically expire within three years after the date of issuance. 
D)  Found in the Federal Register. 
E)  All of these statements are true.

Question 13

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases

Question 14

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Accepted Answer

A) True 
 B)False

Question 15

Revenue Rulings issued by the National Office of the IRS carry the same legal force and effect as Regulations.

Accepted Answer

A) True 
 B)False

Question 16

Which of these is not a correct citation to the Internal Revenue Code?

Accepted Answer

A)  Section 211 
B)  Section 12221) 
C)  Section 2a)1)
A)  
D)  Section 280B 
E)  All of these are correct cites. 
A)  Section 211 
B)  Section 12221) 
C)  Section 2a)1)
A)  
D)  Section 280B 
E)  All of these are correct cites.

Question 17

Revenue Rulings are first published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following types of Regulations has the highest tax validity?

Accepted Answer

A)  Temporary 
B)  Legislative 
C)  Interpretive 
D)  Procedural 
E)  None of these 
A)  Temporary 
B)  Legislative 
C)  Interpretive 
D)  Procedural 
E)  None of these

Question 19

The research process should always begin with a tax service.

Accepted Answer

A) True 
 B)False

Question 20

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

Accepted Answer

A) True 
 B)False

Which court decision would probably carry more weight?

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

Determination letters usually involve completed transactions.

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

Which is a primary source of tax law?

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

The Internal Revenue Code was first codified in what year?

A taxpayer may not appeal a case from which court:

The term "petitioner" is a synonym for "defendant."

How do treaties fit within tax sources?

What statement is not true with respect to Temporary Regulations?

What is a Technical Advice Memorandum?

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Revenue Rulings issued by the National Office of the IRS carry the same legal force and effect as Regulations.

Which of these is not a correct citation to the Internal Revenue Code?

Revenue Rulings are first published in the Internal Revenue Bulletin.

Which of the following types of Regulations has the highest tax validity?

The research process should always begin with a tax service.

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

An Introduction to Taxation and Understanding the Federal Tax Law

Tax Formula and Tax Determination an Overview of Property Transactions

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

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basis Considerations

Property Transactions: Nontaxable Exchanges

Filters

Exam 2: Working With the Tax Law

Which court decision would probably carry more weight?

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

Determination letters usually involve completed transactions.

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

Which is a primary source of tax law?

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

The Internal Revenue Code was first codified in what year?

A taxpayer may not appeal a case from which court:

The term "petitioner" is a synonym for "defendant."

How do treaties fit within tax sources?

What statement is not true with respect to Temporary Regulations?

What is a Technical Advice Memorandum?

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Revenue Rulings issued by the National Office of the IRS carry the same legal force and effect as Regulations.

Which of these is not a correct citation to the Internal Revenue Code?

Revenue Rulings are first published in the Internal Revenue Bulletin.

Which of the following types of Regulations has the highest tax validity?

The research process should always begin with a tax service.

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

An Introduction to Taxation and Understanding the Federal Tax Law

Tax Formula and Tax Determination an Overview of Property Transactions

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

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basis Considerations

Property Transactions: Nontaxable Exchanges

Filters