Question 1

Which state is not a community property state?

Accepted Answer

A)  Arizona. 
B)  Texas. 
C)  New Mexico. 
D)  Virginia. 
E)  None of these. 
A)  Arizona. 
B)  Texas. 
C)  New Mexico. 
D)  Virginia. 
E)  None of these.

Question 2

Which of the following refers to a trial court rather than an appellate court decision?

Accepted Answer

A)  Forgeus v. Comm., 6 B.T.A. 291 1927). 
B)  Farris v. Comm., 222 F.2d 320 CA-10, 1955). 
C)  Danville Plywood Corp., 899 F.2d 3 Fed Cir. 1990). 
D)  Boehm v. Comm., 326 U.S. 287 1945). 
E)  None of these. 
A)  Forgeus v. Comm., 6 B.T.A. 291 1927). 
B)  Farris v. Comm., 222 F.2d 320 CA-10, 1955). 
C)  Danville Plywood Corp., 899 F.2d 3 Fed Cir. 1990). 
D)  Boehm v. Comm., 326 U.S. 287 1945). 
E)  None of these.

Question 3

Appeals from the U.S. Court of Federal Claims go to the U.S. Supreme Court.

Accepted Answer

A) True 
 B)False

Question 4

Which state is located in the jurisdiction of the Fifth Circuit Court of Appeals?

Accepted Answer

A)  Louisiana. 
B)  California. 
C)  New York. 
D)  South Carolina. 
E)  None of these. 
A)  Louisiana. 
B)  California. 
C)  New York. 
D)  South Carolina. 
E)  None of these.

Question 5

Which trial court decision is generally less authoritative?

Accepted Answer

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

Question 6

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 7

Which citation refers to a Second Circuit Court of Appeals decision?

Accepted Answer

A)  40 T.C. 1018. 
B)  159 F. 2d 848 CA-2, 1947). 
C)  354 F. Supp. 1003 D. Ct. Ga, 1972). 
D)  914 F. 2d 396 CA-3, 1990). 
E)  None of these. 
A)  40 T.C. 1018. 
B)  159 F. 2d 848 CA-2, 1947). 
C)  354 F. Supp. 1003 D. Ct. Ga, 1972). 
D)  914 F. 2d 396 CA-3, 1990). 
E)  None of these.

Question 8

A tax bill cannot originate in the Senate Finance Committee.

Accepted Answer

A) True 
 B)False

Question 9

What statement is not true with respect to Temporary Regulations?

Accepted Answer

A)  They may be cited as precedent. 
B)  They are issued with Proposed Regulations. 
C)  They automatically expire within three years after the date of issuance. 
D)  They can be found in the Federal Register. 
E)  All of these statements are true. 
A)  They may be cited as precedent. 
B)  They are issued with Proposed Regulations. 
C)  They automatically expire within three years after the date of issuance. 
D)  They can be found in the Federal Register. 
E)  All of these statements are true.

Question 10

In Forty-Four Cigar Co., 2 B.T.A. 1156, the 1156 stands for:

Accepted Answer

A)  The volume number. 
B)  The year of the decision. 
C)  The paragraph number. 
D)  The page number. 
E)  None of these. 
A)  The volume number. 
B)  The year of the decision. 
C)  The paragraph number. 
D)  The page number. 
E)  None of these.

Question 11

Only one judge hears a trial in a U.S. District Court.

Accepted Answer

A) True 
 B)False

Question 12

The Standard Federal Tax Reporter is published by Research Institute of America.

Accepted Answer

A) True 
 B)False

Which state is not a community property state?

Which of the following refers to a trial court rather than an appellate court decision?

Appeals from the U.S. Court of Federal Claims go to the U.S. Supreme Court.

Which state is located in the jurisdiction of the Fifth Circuit Court of Appeals?

Which trial court decision is generally less authoritative?

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.

Which citation refers to a Second Circuit Court of Appeals decision?

A tax bill cannot originate in the Senate Finance Committee.

What statement is not true with respect to Temporary Regulations?

In Forty-Four Cigar Co., 2 B.T.A. 1156, the 1156 stands for:

Only one judge hears a trial in a U.S. District Court.

The Standard Federal Tax Reporter is published by Research Institute of America.

The Deduction for Qualified Business Income for Pass-Through Entities

Corporations: Introduction and Operating Rules

Corporations: Organization and Capital Structure

Corporations: Earnings and Profits and Dividend Distributions

Corporations: Redemptions and Liquidations

Corporations: Reorganizations

Consolidated Tax Returns

Taxation of International Transactions

Partnerships: Formation, Operations, and Basis

Partnerships: Distributions, Transfer of Interests, and Terminations

S Corporations

Comparative Forms of Doing Business

Taxes on the Financial Statements

Exempt Entities

Multistate Corporate Taxation

Tax Practice and Ethics

The Federal Gift and Estate Taxes

Family Tax Planning

Income Taxation of Trusts and Estates

Filters

Exam 1: Understanding and Working With the Federal Tax Law

Which state is not a community property state?

Which of the following refers to a trial court rather than an appellate court decision?

Appeals from the U.S. Court of Federal Claims go to the U.S. Supreme Court.

Which state is located in the jurisdiction of the Fifth Circuit Court of Appeals?

Which trial court decision is generally less authoritative?

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.

Which citation refers to a Second Circuit Court of Appeals decision?

A tax bill cannot originate in the Senate Finance Committee.

What statement is not true with respect to Temporary Regulations?

In Forty-Four Cigar Co., 2 B.T.A. 1156, the 1156 stands for:

Only one judge hears a trial in a U.S. District Court.

The Standard Federal Tax Reporter is published by Research Institute of America.

The Deduction for Qualified Business Income for Pass-Through Entities

Corporations: Introduction and Operating Rules

Corporations: Organization and Capital Structure

Corporations: Earnings and Profits and Dividend Distributions

Corporations: Redemptions and Liquidations

Corporations: Reorganizations

Consolidated Tax Returns

Taxation of International Transactions

Partnerships: Formation, Operations, and Basis

Partnerships: Distributions, Transfer of Interests, and Terminations

S Corporations

Comparative Forms of Doing Business

Taxes on the Financial Statements

Exempt Entities

Multistate Corporate Taxation

Tax Practice and Ethics

The Federal Gift and Estate Taxes

Family Tax Planning

Income Taxation of Trusts and Estates

Filters