Question 1

What are Treasury Department Regulations?

Accepted Answer

Regulations are issued by the U.S. Treas

Question 2

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 3

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Accepted Answer

A) True 
 B)False

Question 4

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

Question 5

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

Accepted Answer

Congressional Committee Reports often ex

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

Accepted Answer

A) True 
 B)False

Question 8

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 9

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme

Question 10

The following citation is correct: Larry G. Mitchell, 131 T.C. 215 (2008).

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 13

The granting of a Writ of Certiorari indicates that at least four members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.

Accepted Answer

A) True 
 B)False

Question 14

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

Accepted Answer

A) True 
 B)False

Question 15

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 16

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

Accepted Answer

A) True 
 B)False

Question 17

Which publisher offers the United States Tax Reporter?

Accepted Answer

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

Question 18

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 19

In addressing the importance of a Regulation, an IRS agent must:

Accepted Answer

A) Give equal weight to the Internal Revenue Code and the Regulations. 
B) Give more weight to the Internal Revenue Code rather than to a Regulation. 
C) Give more weight to the Regulation rather than to the Internal Revenue Code. 
D) Give less weight to the Internal Revenue Code rather than to a Regulation. 
E) None of these. 
A) Give equal weight to the Internal Revenue Code and the Regulations. 
B) Give more weight to the Internal Revenue Code rather than to a Regulation. 
C) Give more weight to the Regulation rather than to the Internal Revenue Code. 
D) Give less weight to the Internal Revenue Code rather than to a Regulation. 
E) None of these.

Question 20

The first codification of the tax law occurred in 1954.

Accepted Answer

A) True 
 B)False

What are Treasury Department Regulations?

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

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

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

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

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

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Compare Revenue Rulings with Revenue Procedures.

The following citation is correct: Larry G. Mitchell, 131 T.C. 215 (2008).

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

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

The granting of a Writ of Certiorari indicates that at least four members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

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.

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

Which publisher offers the United States Tax Reporter?

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

In addressing the importance of a Regulation, an IRS agent must:

The first codification of the tax law occurred in 1954.

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

What are Treasury Department Regulations?

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

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

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

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

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

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Compare Revenue Rulings with Revenue Procedures.

The following citation is correct: Larry G. Mitchell, 131 T.C. 215 (2008).

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

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

The granting of a Writ of Certiorari indicates that at least four members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

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.

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

Which publisher offers the United States Tax Reporter?

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

In addressing the importance of a Regulation, an IRS agent must:

The first codification of the tax law occurred in 1954.

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