Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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

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

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 5

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 6

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

Question 7

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Question 8

A U.S. District Court is the lowest trial court.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following sources has the highest tax validity?

Accepted Answer

A) Revenue Ruling 
B) Revenue Procedure 
C) Regulations 
D) Internal Revenue Code section 
E) None of these 
A) Revenue Ruling 
B) Revenue Procedure 
C) Regulations 
D) Internal Revenue Code section 
E) None of these

Question 10

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Accepted Answer

A) True 
 B)False

Question 11

Discuss the advantages and disadvantages of the Small Cases Division of the U.S. Tax Court.

Accepted Answer

There is no appeal from the Small Cases

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

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 14

The term "petitioner" is a synonym for "defendant."

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

Which company does not publish citators for tax purposes?

Accepted Answer

A) John Wiley & Sons 
B) Commerce Clearing House 
C) Thomson Reuters RIA 
D) Westlaw 
E) Shepard's 
A) John Wiley & Sons 
B) Commerce Clearing House 
C) Thomson Reuters RIA 
D) Westlaw 
E) Shepard's

Question 18

Determination letters usually involve completed transactions.

Accepted Answer

A) True 
 B)False

Question 19

A jury trial is available in the following trial court:

Accepted Answer

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

Question 20

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

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

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

Which Regulations have the force and effect of law?

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

Which is presently not a major tax service?

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

Technical Advice Memoranda deal with completed transactions.

A U.S. District Court is the lowest trial court.

Which of the following sources has the highest tax validity?

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Discuss the advantages and disadvantages of the Small Cases Division of the U.S. Tax Court.

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

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

The term "petitioner" is a synonym for "defendant."

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

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

Which company does not publish citators for tax purposes?

Determination letters usually involve completed transactions.

A jury trial is available in the following trial court:

Which publisher offers the Standard Federal Tax Reporter?

An Introduction to Taxation and Understanding Federal Tax Law

Tax Formula and Tax Determination; an Overview of Property Transactions

Gross Income: Concepts and Inclusions

Gross Income: Exclusions

Deductions and Losses: in General

Deductions and Losses: Certain Business Expenses and Losses

Depreciation, Cost Recovery, Amortization, and Depletion

Deductions: Employee and Self-Employed-Related Expenses

Deductions and Losses: Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basis Considerations

Property Transactions: Nontaxable Exchanges

Property Transactions: Capital Gains and Losses

Property Transactions: 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters

Exam 2: Working With the Tax Law

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

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

Which Regulations have the force and effect of law?

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

Which is presently not a major tax service?

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

Technical Advice Memoranda deal with completed transactions.

A U.S. District Court is the lowest trial court.

Which of the following sources has the highest tax validity?

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Discuss the advantages and disadvantages of the Small Cases Division of the U.S. Tax Court.

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

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

The term "petitioner" is a synonym for "defendant."

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

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

Which company does not publish citators for tax purposes?

Determination letters usually involve completed transactions.

A jury trial is available in the following trial court:

Which publisher offers the Standard Federal Tax Reporter?

An Introduction to Taxation and Understanding Federal Tax Law

Tax Formula and Tax Determination; an Overview of Property Transactions

Gross Income: Concepts and Inclusions

Gross Income: Exclusions

Deductions and Losses: in General

Deductions and Losses: Certain Business Expenses and Losses

Depreciation, Cost Recovery, Amortization, and Depletion

Deductions: Employee and Self-Employed-Related Expenses

Deductions and Losses: Certain Itemized Deductions

Investor Losses

Alternative Minimum Tax

Tax Credits and Payment Procedures

Property Transactions: Determination of Gain or Loss and Basis Considerations

Property Transactions: Nontaxable Exchanges

Property Transactions: Capital Gains and Losses

Property Transactions: 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters