Question 1

Which is a primary source of tax law?

Accepted Answer

A)  J.W. Yarbo v. Comm., 737 F. 2d 479 (CA-5, 1984). 
B)  Article by a Federal judge in Yale Law Review. 
C)  Determination letter. 
D)  Letter ruling. 
E)  All of the above are primary sources. 
A)  J.W. Yarbo v. Comm., 737 F. 2d 479 (CA-5, 1984). 
B)  Article by a Federal judge in Yale Law Review. 
C)  Determination letter. 
D)  Letter ruling. 
E)  All of the above are primary sources.

Question 2

Which state is located in the jurisdiction of the Ninth Circuit of Appeals?

Accepted Answer

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

Question 3

Which court decision is generally more authoritative?

Accepted Answer

A)  A U.S. Tax Court decision. 
B)  Court of Federal Claims decision. 
C)  District Court decision. 
D)  U.S. Court of Appeals decision. 
E)  U.S. Tax Court Memorandum decision. 
A)  A U.S. Tax Court decision. 
B)  Court of Federal Claims decision. 
C)  District Court decision. 
D)  U.S. Court of Appeals decision. 
E)  U.S. Tax Court Memorandum decision.

Question 4

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

Accepted Answer

A)  Supreme Court. 
B)  U.S. Tax Court. 
C)  U.S. Court of Federal Claims. 
D)  U.S. Circuit Court of Appeals. 
E)  All of the above. 
A)  Supreme Court. 
B)  U.S. Tax Court. 
C)  U.S. Court of Federal Claims. 
D)  U.S. Circuit Court of Appeals. 
E)  All of the above.

Question 5

Revenue Rulings carry the same legal force and effect as Regulations.

Accepted Answer

A) True 
 B)False

Question 6

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 7

Explain the function of Temporary Regulations.

Accepted Answer

Sometimes the U.S. Treasury Department i

Question 8

The earned income tax credit is refundable.

Accepted Answer

A) True 
 B)False

Question 9

Which trial court has 19 judges?

Accepted Answer

A)  U.S. Tax Court. 
B)  U.S. Court of Federal Claims. 
C)  U.S. Supreme Court. 
D)  U.S. Court of Appeals. 
E)  None of the above. 
A)  U.S. Tax Court. 
B)  U.S. Court of Federal Claims. 
C)  U.S. Supreme Court. 
D)  U.S. Court of Appeals. 
E)  None of the above.

Question 10

Allowing a taxpayer to choose either a credit or a deduction for foreign taxes paid can be explained by equity considerations.

Accepted Answer

A) True 
 B)False

Question 11

Generally, neither a tax law nor a tax treaty takes general precedence over the other.

Accepted Answer

A) True 
 B)False

Question 12

The corporate tax rate of 34 percent applies only to taxable income in excess of $75,000.

Accepted Answer

A) True 
 B)False

Question 13

Federal tax legislation generally originates in the Senate Finance Committee.

Accepted Answer

A) True 
 B)False

Question 14

Subchapter K refers to the "Partners and Partnerships" section of the Code.

Accepted Answer

A) True 
 B)False

Which is a primary source of tax law?

Which state is located in the jurisdiction of the Ninth Circuit of Appeals?

Which court decision is generally more authoritative?

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

Revenue Rulings carry the same legal force and effect as Regulations.

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

Explain the function of Temporary Regulations.

The earned income tax credit is refundable.

Which trial court has 19 judges?

Allowing a taxpayer to choose either a credit or a deduction for foreign taxes paid can be explained by equity considerations.

Generally, neither a tax law nor a tax treaty takes general precedence over the other.

The corporate tax rate of 34 percent applies only to taxable income in excess of $75,000.

Federal tax legislation generally originates in the Senate Finance Committee.

Subchapter K refers to the "Partners and Partnerships" section of the Code.

Corporations: Introduction and Operating Rules

Corporations: Special Situations

Corporations: Organization and Capital Structure

Corporations: Earnings Profits and Dividend Distributions

Corporations: Redemptions and Liquidations

Corporations: Reorganizations

Consolidated Tax Returns

Taxation of International Transactions

Partnerships: Formation, Operation, 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 is a primary source of tax law?

Which state is located in the jurisdiction of the Ninth Circuit of Appeals?

Which court decision is generally more authoritative?

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

Revenue Rulings carry the same legal force and effect as Regulations.

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

Explain the function of Temporary Regulations.

The earned income tax credit is refundable.

Which trial court has 19 judges?

Allowing a taxpayer to choose either a credit or a deduction for foreign taxes paid can be explained by equity considerations.

Generally, neither a tax law nor a tax treaty takes general precedence over the other.

The corporate tax rate of 34 percent applies only to taxable income in excess of $75,000.

Federal tax legislation generally originates in the Senate Finance Committee.

Subchapter K refers to the "Partners and Partnerships" section of the Code.

Corporations: Introduction and Operating Rules

Corporations: Special Situations

Corporations: Organization and Capital Structure

Corporations: Earnings Profits and Dividend Distributions

Corporations: Redemptions and Liquidations

Corporations: Reorganizations

Consolidated Tax Returns

Taxation of International Transactions

Partnerships: Formation, Operation, 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