Question 1

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Accepted Answer

A) True 
 B)False

Question 2

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016).The Internal Revenue Code section controls.

Accepted Answer

A) True 
 B)False

Question 3

Which Regulations have the force and effect of law?

Accepted Answer

A) Procedural Regulations 
B) Finalized Regulations 
C) Legislative Regulations 
D) Interpretive Regulations 
E) All of these 
A) Procedural Regulations 
B) Finalized Regulations 
C) Legislative Regulations 
D) Interpretive Regulations 
E) All of these

Question 4

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases

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

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

Accepted Answer

A) True 
 B)False

Question 7

Which items tell taxpayers the IRS's reaction to certain court decisions?

Accepted Answer

A) Notices 
B) Revenue Procedures 
C) Revenue Rulings 
D) Actions on Decisions 
E) Legislative Regulations 
A) Notices 
B) Revenue Procedures 
C) Revenue Rulings 
D) Actions on Decisions 
E) Legislative Regulations

Question 8

Which of the following statements about a nonacquiescence is correct?

Accepted Answer

A) A nonacquiescence is issued in the Federal Registrar. 
B) Nonacquiescences are published only for certain regular decisions of the U.S.Tax Court. 
C) A nonacquiescence in published in the Internal Revenue Bulletin. 
D) The IRS does not issue nonacquiescences to adverse decisions that are not appealed. 
E) All of these are correct. 
A) A nonacquiescence is issued in the Federal Registrar. 
B) Nonacquiescences are published only for certain regular decisions of the U.S.Tax Court. 
C) A nonacquiescence in published in the Internal Revenue Bulletin. 
D) The IRS does not issue nonacquiescences to adverse decisions that are not appealed. 
E) All of these are correct.

Question 9

If these citations appeared after a trial court decision, which one means that the decision was overruled?

Accepted Answer

A) Aff'd 633 F.2d 512 (CA-7, 1980). 
B) Rem'd 399 F.2d 800 (CA-5, 1968). 
C) Aff'd 914 F.2d 396 (CA-3, 1990). 
D) Rev'd 935 F.2d 203 (CA-5, 1991). 
E) None of these. 
A) Aff'd 633 F.2d 512 (CA-7, 1980). 
B) Rem'd 399 F.2d 800 (CA-5, 1968). 
C) Aff'd 914 F.2d 396 (CA-3, 1990). 
D) Rev'd 935 F.2d 203 (CA-5, 1991). 
E) None of these.

Question 10

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme

Question 11

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 12

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

Accepted Answer

A) True 
 B)False

Question 13

Before a tax bill can become law, it must be approved (signed) by the President of the United States.

Accepted Answer

A) True 
 B)False

Question 14

A taxpayer should always minimize his or her tax liability.

Accepted Answer

A) True 
 B)False

Question 15

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

Question 16

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 17

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

Accepted Answer

A) True 
 B)False

Question 18

Which publisher offers the Standard Federal Tax Reporter?

Accepted Answer

A) Research Institute of America 
B) Commerce Clearing House 
C) Thomson Reuters 
D) LexisNexis 
E) None of these 
A) Research Institute of America 
B) Commerce Clearing House 
C) Thomson Reuters 
D) LexisNexis 
E) None of these

Question 19

In general, Regulations are issued immediately after a statute is enacted.

Accepted Answer

A) True 
 B)False

Question 20

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

Revenue Procedures deal with the internal management practices and procedures of the IRS.

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016).The Internal Revenue Code section controls.

Which Regulations have the force and effect of law?

What is a Technical Advice Memorandum?

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

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

Which items tell taxpayers the IRS's reaction to certain court decisions?

Which of the following statements about a nonacquiescence is correct?

If these citations appeared after a trial court decision, which one means that the decision was overruled?

Compare Revenue Rulings with Revenue Procedures.

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

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

Before a tax bill can become law, it must be approved (signed) by the President of the United States.

A taxpayer should always minimize his or her tax liability.

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

The Internal Revenue Code was first codified in what year?

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

Which publisher offers the Standard Federal Tax Reporter?

In general, Regulations are issued immediately after a statute is enacted.

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

Introduction to Taxation

Taxes on the Financial Statements

Gross Income

Business Deductions

Losses and Loss Limitations

Property Transactions: Basis, Gain and Loss, and Nontaxable Exchanges

Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions

Individuals As the Taxpayer

Individuals: Income, Deductions, and Credits

Individuals As Employees and Proprietors

Corporations: Organization, Capital Structure, and Operating Rules

Corporations: Earnings and Profits and Distributions

Partnerships and Limited Liability Entities

S Corporations

Multijurisdictional Taxation

Business Tax Credits and the Alternative Minimum Tax

Comparative Forms of Doing Business

Filters

Exam 2: Working With the Tax Law

Revenue Procedures deal with the internal management practices and procedures of the IRS.

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016).The Internal Revenue Code section controls.

Which Regulations have the force and effect of law?

What is a Technical Advice Memorandum?

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

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

Which items tell taxpayers the IRS's reaction to certain court decisions?

Which of the following statements about a nonacquiescence is correct?

If these citations appeared after a trial court decision, which one means that the decision was overruled?

Compare Revenue Rulings with Revenue Procedures.

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

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

Before a tax bill can become law, it must be approved (signed) by the President of the United States.

A taxpayer should always minimize his or her tax liability.

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

The Internal Revenue Code was first codified in what year?

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

Which publisher offers the Standard Federal Tax Reporter?

In general, Regulations are issued immediately after a statute is enacted.

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

Introduction to Taxation

Taxes on the Financial Statements

Gross Income

Business Deductions

Losses and Loss Limitations

Property Transactions: Basis, Gain and Loss, and Nontaxable Exchanges

Property Transactions: Capital Gains and Losses, Section 1231, and Recapture Provisions

Individuals As the Taxpayer

Individuals: Income, Deductions, and Credits

Individuals As Employees and Proprietors

Corporations: Organization, Capital Structure, and Operating Rules

Corporations: Earnings and Profits and Distributions

Partnerships and Limited Liability Entities

S Corporations

Multijurisdictional Taxation

Business Tax Credits and the Alternative Minimum Tax

Comparative Forms of Doing Business

Filters