Question 1

The Internal Revenue Code of 1986 was substantially a re-codification of the existing Code.

Accepted Answer

A) True 
 B)False

Question 2

The research process should begin with a tax service.

Accepted Answer

A) True 
 B)False

Question 3

Federal tax legislation generally originates in what body?

Accepted Answer

A) Internal Revenue Service. 
B) Senate Finance Committee. 
C) House Ways and Means Committee. 
D) Senate Floor. 
E) None of the above. 
A) Internal Revenue Service. 
B) Senate Finance Committee. 
C) House Ways and Means Committee. 
D) Senate Floor. 
E) None of the above.

Question 4

Which of the following is not published in the Cumulative Bulletin?

Accepted Answer

A) Revenue Rulings. 
B) Proposed Regulations. 
C) Actions on Decisions. 
D) Letter Rulings. 
E) General Counsel Memoranda. 
A) Revenue Rulings. 
B) Proposed Regulations. 
C) Actions on Decisions. 
D) Letter Rulings. 
E) General Counsel Memoranda.

Question 5

What are Treasury Department Regulations?

Accepted Answer

Regulations are issued by the U.S.Treasu

Question 6

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 the above are major tax services. 
A) Standard Federal Tax Reporter. 
B) Federal Taxes. 
C) United States Tax Reporter. 
D) Tax Management Portfolios. 
E) All of the above are major tax services.

Question 7

Which of these is not a correct citation to the Internal Revenue Code?

Accepted Answer

A) Section 211. 
B) Section 1222(1). 
C) Section 2(a)(1)(
A) . 
D) Section 280B. 
E) All of above are correct cites. 
A) Section 211. 
B) Section 1222(1). 
C) Section 2(a)(1)(
A) . 
D) Section 280B. 
E) All of above are correct cites.

Question 8

There is a direct conflict between a Code section adopted in 2004 and a treaty with France (signed in 2008).The Code section controls.

Accepted Answer

A) True 
 B)False

Question 9

Determination letters usually involve proposed transactions.

Accepted Answer

A) True 
 B)False

Question 10

The following citation can be a correct citation: Rev.Rul.95-271, I.R.B.No.54, 18.

Accepted Answer

A) True 
 B)False

Question 11

Which court decisions are published in paper format by the U.S.government?

Accepted Answer

A) U.S.Tax Court Memorandum decision. 
B) U.S.Tax Court regular decision. 
C) Fifth Circuit U.S.Court of Appeals decision. 
D) Court of Federal Claims decision. 
E) All of the above. 
A) U.S.Tax Court Memorandum decision. 
B) U.S.Tax Court regular decision. 
C) Fifth Circuit U.S.Court of Appeals decision. 
D) Court of Federal Claims decision. 
E) All of the above.

Question 12

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 13

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

Accepted Answer

A) Finalized. 
B) Legislative. 
C) Proposed. 
D) Temporary. 
E) Procedural. 
A) Finalized. 
B) Legislative. 
C) Proposed. 
D) Temporary. 
E) Procedural.

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Which court decision would probably carry more weight?

Accepted Answer

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

Question 16

Which would not be a citation to a District Court case?

Accepted Answer

A)  2004-1 USTC ¶ 60,478. 
B)  93 AFTR 2d 2004-668. 
C)  306 F. Supp. 2d 668. 
D)  97 TCM 1488. 
E)  All of the above are District Court cites. 
A)  2004-1 USTC ¶ 60,478. 
B)  93 AFTR 2d 2004-668. 
C)  306 F. Supp. 2d 668. 
D)  97 TCM 1488. 
E)  All of the above are District Court cites.

Question 17

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 the above. 
A) Governmental bodies. 
B) Tax academics. 
C) Publishers. 
D) CPA firms. 
E) All of the above.

Question 18

Explain the tax appeals process from trial courts.

Accepted Answer

Appeals from a District Court or a Tax C

Question 19

In § 212(1), the number (1) stands for the:

Accepted Answer

A) Section number. 
B) Subsection number. 
C) Paragraph designation. 
D) Subparagraph designation. 
E) None of the above. 
A) Section number. 
B) Subsection number. 
C) Paragraph designation. 
D) Subparagraph designation. 
E) None of the above.

Question 20

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

The Internal Revenue Code of 1986 was substantially a re-codification of the existing Code.

The research process should begin with a tax service.

Federal tax legislation generally originates in what body?

Which of the following is not published in the Cumulative Bulletin?

What are Treasury Department Regulations?

Which is presently not a major tax service?

Which of these is not a correct citation to the Internal Revenue Code?

There is a direct conflict between a Code section adopted in 2004 and a treaty with France (signed in 2008).The Code section controls.

Determination letters usually involve proposed transactions.

The following citation can be a correct citation: Rev.Rul.95-271, I.R.B.No.54, 18.

Which court decisions are published in paper format by the U.S.government?

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

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

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

Which court decision would probably carry more weight?

Which would not be a citation to a District Court case?

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

Explain the tax appeals process from trial courts.

In § 212(1), the number (1) stands for the:

Technical Advice Memoranda deal with completed transactions.

An Introduction to Taxation and Understanding the Federal Tax Law

Computing the Tax

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

Tax Credits and Payments

Property Transactions: Determination of Gain or Loss, Basis Considerations, and Nontaxable Exchanges-Part 1

Property Transactions: Determination of Gain or Loss, Basis Considerations, and Nontaxable Exchanges-Part 2

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

Alternative Minimum Tax

Accounting Periods and Methods

Corporations: Introduction and Operating Rules

Corporations: Organization and Capital Structure

Corporations: Distributions Not in Complete Liquidation

Corporations: Distributions in Complete Liquidation and an Overview of Reorganizations

Partnerships

S: Corporations

Exempt Entities

Multistate Corporate Taxation

Taxation of International Transactions

Tax Practice and Ethics

Income Taxation of Trusts and Estates

Filters