Question 1

Tax bills are handled by which committee in the U.S.House of Representatives?

Accepted Answer

A)  Taxation Committee. 
B)  Ways and Means Committee. 
C)  Finance Committee. 
D)  Budget Committee. 
E)  None of the above. 
A)  Taxation Committee. 
B)  Ways and Means Committee. 
C)  Finance Committee. 
D)  Budget Committee. 
E)  None of the above. B

Question 2

Proposed Regulations are binding on IRS agents.

Accepted Answer

A) True 
 B)False  False

Question 3

Post-1984 letter rulings may be substantial authority for purposes of the accuracy-related penalty in § 6662.

Accepted Answer

A) True 
 B)False  True

Question 4

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Accepted Answer

A) True 
 B)False

Question 5

Which publisher offers Tax Center that provides the Code,Regulations,and material from Matthew Bender,CCH,Kleinrock,and the Bureau of National Affairs?

Accepted Answer

A)  Research Institute of America. 
B)  Commerce Clearing House. 
C)  LexisNexis. 
D)  Prentice-Hall. 
E)  None of the above. 
A)  Research Institute of America. 
B)  Commerce Clearing House. 
C)  LexisNexis. 
D)  Prentice-Hall. 
E)  None of the above.

Question 6

The IRS is required to make a letter ruling public.

Accepted Answer

A) True 
 B)False

Question 7

House members have considerable latitude to make amendments on the House floor.

Accepted Answer

A) True 
 B)False

Question 8

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 9

Which item may not be cited as a precedent?

Accepted Answer

A)  Regulations. 
B)  Temporary Regulations. 
C)  Technical Advice Memoranda. 
D)  U.S. District Court decision. 
E)  None of the above. 
A)  Regulations. 
B)  Temporary Regulations. 
C)  Technical Advice Memoranda. 
D)  U.S. District Court decision. 
E)  None of the above.

Question 10

The Internal Revenue Code was first codified in what year?

Accepted Answer

A)  1913. 
B)  1923. 
C)  1939. 
D)  1954. 
E)  1986. 
A)  1913. 
B)  1923. 
C)  1939. 
D)  1954. 
E)  1986.

Question 11

Federal tax legislation generally originates in the Senate Finance Committee.

Accepted Answer

A) True 
 B)False

Question 12

Regulations are arranged in the same sequence as the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 13

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 14

Which publisher offers the United States Tax Reporter?

Accepted Answer

A)  Research Institute of America. 
B)  Commerce Clearing House. 
C)  LexisNexis. 
D)  Tax Analysts. 
E)  None of the above. 
A)  Research Institute of America. 
B)  Commerce Clearing House. 
C)  LexisNexis. 
D)  Tax Analysts. 
E)  None of the above.

Question 15

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 16

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.Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

Accepted Answer

A) True 
 B)False

Question 17

Electronic databases are most frequently searched by the keyword approach.

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

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 20

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

Accepted Answer

A) True 
 B)False

Tax bills are handled by which committee in the U.S.House of Representatives?

Proposed Regulations are binding on IRS agents.

Post-1984 letter rulings may be substantial authority for purposes of the accuracy-related penalty in § 6662.

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Which publisher offers Tax Center that provides the Code,Regulations,and material from Matthew Bender,CCH,Kleinrock,and the Bureau of National Affairs?

The IRS is required to make a letter ruling public.

House members have considerable latitude to make amendments on the House floor.

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

Which item may not be cited as a precedent?

The Internal Revenue Code was first codified in what year?

Federal tax legislation generally originates in the Senate Finance Committee.

Regulations are arranged in the same sequence as the Internal Revenue Code.

Which is presently not a major tax service?

Which publisher offers the United States Tax Reporter?

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

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.Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

Electronic databases are most frequently searched by the keyword approach.

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

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

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

An Introduction to Taxation and Understanding the 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: Section 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters

Exam 2: Working With the Tax Law

Tax bills are handled by which committee in the U.S.House of Representatives?

Proposed Regulations are binding on IRS agents.

Post-1984 letter rulings may be substantial authority for purposes of the accuracy-related penalty in § 6662.

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Which publisher offers Tax Center that provides the Code,Regulations,and material from Matthew Bender,CCH,Kleinrock,and the Bureau of National Affairs?

The IRS is required to make a letter ruling public.

House members have considerable latitude to make amendments on the House floor.

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

Which item may not be cited as a precedent?

The Internal Revenue Code was first codified in what year?

Federal tax legislation generally originates in the Senate Finance Committee.

Regulations are arranged in the same sequence as the Internal Revenue Code.

Which is presently not a major tax service?

Which publisher offers the United States Tax Reporter?

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

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.Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

Electronic databases are most frequently searched by the keyword approach.

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

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

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

An Introduction to Taxation and Understanding the 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: Section 1231 and Recapture Provisions

Accounting Periods and Methods

Deferred Compensation

Corporations and Partnerships

Filters