Exam 1: Understanding and Working With the Federal Tax Law

One code section enables shareholders in a small business corporation to obtain an ordinary deduction for any loss recognized on a stock investment.

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

CCH's Tax Research Consultant is an annotated tax service.

Which state is a separate property state?

The foundation of the U.S.tax system is the raising of revenue to absorb the cost of government operations.

There are three Courts of Federal Claims.

Certain costs incurred in the installation of pollution control facilities may be amortized over 30 months.

Which is not a substantial authority for purposes of the accuracy-related penalty?

What are the two major types of conventional tax services?

Which provision is not justified by social considerations?

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

What authority may be cited in the RIA Citator?

What symbol in the RIA Citator indicates that a case has reconciled a particular court decision?

The encouragement of private-sector pension plans can be justified under encouragement of certain industries.

Mississippi and North Carolina are community property states.

What company or group publishes Supreme Court cases?

Which of the following courts has the lowest tax validity?

What is meant by revenue neutrality?

Which of the following statements relating to nonacquiescence is not true?

A taxpayer may select the District Court that will hear his or her tax dispute.