Question 1

Which is presently not a major tax service?

Accepted Answer

A) Standard Federal Tax Reporter 
B) Federal Taxes 
C) United States Tax Reporter 
D) Tax Management Portfolios 
E) All of these are major tax services 
A) Standard Federal Tax Reporter 
B) Federal Taxes 
C) United States Tax Reporter 
D) Tax Management Portfolios 
E) All of these are major tax services

Question 2

There are 11 geographic U.S.Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

In § 212(1), the number (1) stands for the:

Accepted Answer

A) Section number. 
B) Subsection number. 
C) Paragraph designation. 
D) Subparagraph designation. 
E) None of these. 
A) Section number. 
B) Subsection number. 
C) Paragraph designation. 
D) Subparagraph designation. 
E) None of these.

Question 5

Deferring income to a subsequent year is considered to be tax avoidance.

Accepted Answer

A) True 
 B)False

Question 6

The U.S.Tax Court meets most often in Washington, D.C.

Accepted Answer

A) True 
 B)False

Question 7

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

Accepted Answer

The U.S.Tax Court hears only tax cases a

Question 8

Which of the following is not an administrative source of tax law?

Accepted Answer

A) Field Service Advice 
B) Revenue Procedure 
C) Technical Advice Memoranda 
D) General Counsel Memorandum 
E) All of these are administrative sources. 
A) Field Service Advice 
B) Revenue Procedure 
C) Technical Advice Memoranda 
D) General Counsel Memorandum 
E) All of these are administrative sources.

Question 9

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 10

The following citation can be a correct citation: Rev.Rul.95-271,1995-64 I.R.B.18.

Accepted Answer

A) True 
 B)False

Question 11

The "petitioner" refers to the party against whom a suit is brought.

Accepted Answer

A) True 
 B)False

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

Tax research involves which of the following procedures:

Accepted Answer

A) Identifying and refining the problem. 
B) Locating the appropriate tax law sources. 
C) Assessing the validity of the tax law sources. 
D) Follow-up. 
E) All of these. 
A) Identifying and refining the problem. 
B) Locating the appropriate tax law sources. 
C) Assessing the validity of the tax law sources. 
D) Follow-up. 
E) All of these.

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

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 16

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

Accepted Answer

A) True 
 B)False

Question 17

What administrative release deals with a proposed transaction rather than a completed transaction?

Accepted Answer

A) Letter Ruling 
B) Technical Advice Memorandum 
C) Determination Letter 
D) Field Service Advice 
E) None of these 
A) Letter Ruling 
B) Technical Advice Memorandum 
C) Determination Letter 
D) Field Service Advice 
E) None of these

Question 18

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 19

Electronic (online) databases are most frequently searched by the keyword approach.

Accepted Answer

A) True 
 B)False

Question 20

When searching on an electronic (online) tax service, which approach is more frequently used?

Accepted Answer

A) Internal Revenue Code section approach 
B) Keyword approach 
C) Table of contents approach 
D) Index 
E) All are about the same 
A) Internal Revenue Code section approach 
B) Keyword approach 
C) Table of contents approach 
D) Index 
E) All are about the same

Which is presently not a major tax service?

There are 11 geographic U.S.Circuit Court of Appeals.

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

In § 212(1), the number (1) stands for the:

Deferring income to a subsequent year is considered to be tax avoidance.

The U.S.Tax Court meets most often in Washington, D.C.

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

Which of the following is not an administrative source of tax law?

Tax planning usually involves a completed transaction.

The following citation can be a correct citation: Rev.Rul.95-271,1995-64 I.R.B.18.

The "petitioner" refers to the party against whom a suit is brought.

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

Tax research involves which of the following procedures:

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

What statement is not true with respect to Temporary Regulations?

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

What administrative release deals with a proposed transaction rather than a completed transaction?

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Electronic (online) databases are most frequently searched by the keyword approach.

When searching on an electronic (online) tax service, which approach is more frequently used?

Introduction to Taxation

Taxation on the Financial Statements

Gross Income

Business Deductions

Losses and Loss Limitations

Basis, Gain and Loss, and Nontaxable Exchanges

Capital Gains and Losses

Individuals As the Taxpayers

Income, Deductions and Credits

Individuals As Employees and Proprietors

Organization, Capital Structure, and Operating Rules

Earnings Profits and Distributions

Partnerships and Limited Liability Entities

S Corporations

Multi-Juris-Dictional Taxation

Tax Credits and Corporate Alternative Minimum Tax

Comparative Forms of Doing Business

Filters

Exam 2: Working With the Tax Law

Which is presently not a major tax service?

There are 11 geographic U.S.Circuit Court of Appeals.

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

In § 212(1), the number (1) stands for the:

Deferring income to a subsequent year is considered to be tax avoidance.

The U.S.Tax Court meets most often in Washington, D.C.

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

Which of the following is not an administrative source of tax law?

Tax planning usually involves a completed transaction.

The following citation can be a correct citation: Rev.Rul.95-271,1995-64 I.R.B.18.

The "petitioner" refers to the party against whom a suit is brought.

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

Tax research involves which of the following procedures:

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

What statement is not true with respect to Temporary Regulations?

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

What administrative release deals with a proposed transaction rather than a completed transaction?

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Electronic (online) databases are most frequently searched by the keyword approach.

When searching on an electronic (online) tax service, which approach is more frequently used?

Introduction to Taxation

Taxation on the Financial Statements

Gross Income

Business Deductions

Losses and Loss Limitations

Basis, Gain and Loss, and Nontaxable Exchanges

Capital Gains and Losses

Individuals As the Taxpayers

Income, Deductions and Credits

Individuals As Employees and Proprietors

Organization, Capital Structure, and Operating Rules

Earnings Profits and Distributions

Partnerships and Limited Liability Entities

S Corporations

Multi-Juris-Dictional Taxation

Tax Credits and Corporate Alternative Minimum Tax

Comparative Forms of Doing Business

Filters