Question 1

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties (some

Question 2

Which statement is incorrect with respect to taxation on the CPA exam?

Accepted Answer

A) The CPA exam now has only four parts. 
B) There are no longer task-based simulations on the exam. 
C) A candidate may not go back after exiting a testlet. 
D) Simulations include a four-function pop-up calculator. 
E) None of these are incorrect. 
A) The CPA exam now has only four parts. 
B) There are no longer task-based simulations on the exam. 
C) A candidate may not go back after exiting a testlet. 
D) Simulations include a four-function pop-up calculator. 
E) None of these are incorrect.

Question 3

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

Accepted Answer

A) Section 211 
B) Section 1222(1) 
C) Section 2(a)(1)(
A)  
D) Section 280B 
E) All of these are correct cites. 
A) Section 211 
B) Section 1222(1) 
C) Section 2(a)(1)(
A)  
D) Section 280B 
E) All of these are correct cites.

Question 4

Three judges will normally hear each U.S.Tax Court case.

Accepted Answer

A) True 
 B)False

Question 5

Temporary Regulations are only published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 6

Tax bills are handled by which committee in the U.S.House of Representatives?

Accepted Answer

A) Taxation Committee 
B) Ways and Means Committee 
C) Finance Committee 
D) Budget Committee 
E) None of these 
A) Taxation Committee 
B) Ways and Means Committee 
C) Finance Committee 
D) Budget Committee 
E) None of these

Question 7

How can Congressional Committee Reports be used by a tax researcher?

Accepted Answer

Congressional Committee Reports often ex

Question 8

The IRS is not required to make a letter ruling public.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.Court of Federal Claims.Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

Accepted Answer

A) True 
 B)False

Question 11

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 12

Which tax-related website probably gives the best policy-orientation results?

Accepted Answer

A) taxalmanac.org. 
B) irs.gov. 
C) taxsites.com. 
D) taxanalysts.org. 
E) ustaxcourt.gov. 
A) taxalmanac.org. 
B) irs.gov. 
C) taxsites.com. 
D) taxanalysts.org. 
E) ustaxcourt.gov.

Question 13

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Accepted Answer

A) True 
 B)False

Question 14

The IRS will not acquiesce to the following tax decisions:

Accepted Answer

A) U.S.District Court. 
B) U.S.Tax Court. 
C) U.S.Court of Federal Claims. 
D) Small Case Division of the U.S.Tax Court. 
E) All of these. 
A) U.S.District Court. 
B) U.S.Tax Court. 
C) U.S.Court of Federal Claims. 
D) Small Case Division of the U.S.Tax Court. 
E) All of these.

Question 15

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 16

A "Bluebook" is substantial authority for purposes of the accuracy related penalty.

Accepted Answer

A) True 
 B)False

Question 17

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.District Court.

Accepted Answer

A) True 
 B)False

Question 18

If a taxpayer decides not to pay a tax deficiency, he or she must go to which court?

Accepted Answer

A) Appropriate U.S.Circuit Court of Appeals 
B) U.S.District Court 
C) U.S.Tax Court 
D) U.S.Court of Federal Claims 
E) None of these 
A) Appropriate U.S.Circuit Court of Appeals 
B) U.S.District Court 
C) U.S.Tax Court 
D) U.S.Court of Federal Claims 
E) None of these

Question 19

A taxpayer who loses in a U.S.District Court may appeal directly to the:

Accepted Answer

A) U.S.Supreme Court. 
B) U.S.Tax Court. 
C) U.S.Court of Federal Claims. 
D) U.S.Circuit Court of Appeals. 
E) All of these. 
A) U.S.Supreme Court. 
B) U.S.Tax Court. 
C) U.S.Court of Federal Claims. 
D) U.S.Circuit Court of Appeals. 
E) All of these.

Question 20

The Golsen rule has been overturned by the U.S.Supreme Court.

Accepted Answer

A) True 
 B)False

How do treaties fit within tax sources?

Which statement is incorrect with respect to taxation on the CPA exam?

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

Three judges will normally hear each U.S.Tax Court case.

Temporary Regulations are only published in the Internal Revenue Bulletin.

Tax bills are handled by which committee in the U.S.House of Representatives?

How can Congressional Committee Reports be used by a tax researcher?

The IRS is not required to make a letter ruling public.

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

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.Court of Federal Claims.Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Which tax-related website probably gives the best policy-orientation results?

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

The IRS will not acquiesce to the following tax decisions:

A taxpayer may not appeal a case from which court:

A "Bluebook" is substantial authority for purposes of the accuracy related penalty.

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.District Court.

If a taxpayer decides not to pay a tax deficiency, he or she must go to which court?

A taxpayer who loses in a U.S.District Court may appeal directly to the:

The Golsen rule has been overturned by the U.S.Supreme Court.

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

How do treaties fit within tax sources?

Which statement is incorrect with respect to taxation on the CPA exam?

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

Three judges will normally hear each U.S.Tax Court case.

Temporary Regulations are only published in the Internal Revenue Bulletin.

Tax bills are handled by which committee in the U.S.House of Representatives?

How can Congressional Committee Reports be used by a tax researcher?

The IRS is not required to make a letter ruling public.

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

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.Court of Federal Claims.Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Which tax-related website probably gives the best policy-orientation results?

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

The IRS will not acquiesce to the following tax decisions:

A taxpayer may not appeal a case from which court:

A "Bluebook" is substantial authority for purposes of the accuracy related penalty.

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.District Court.

If a taxpayer decides not to pay a tax deficiency, he or she must go to which court?

A taxpayer who loses in a U.S.District Court may appeal directly to the:

The Golsen rule has been overturned by the U.S.Supreme Court.

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