Question 1

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

Accepted Answer

A) True 
 B)False  False

Question 2

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  True

Question 3

Electronic (online) databases are most frequently searched by the keyword approach.

Accepted Answer

A) True 
 B)False  True

Question 4

If a taxpayer decides not to pay a tax deficiency,he or she must go to which court?

Accepted Answer

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

Question 5

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) Tax Court Memorandum 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) Tax Court Memorandum decision 
E) U.S. Court of Federal Claims

Question 6

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 7

Three judges will normally hear each U.S.Tax Court case.

Accepted Answer

A) True 
 B)False

Question 8

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

Question 9

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 10

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.Court of Federal Claims.Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

Accepted Answer

A) True 
 B)False

Question 11

What are Treasury Department Regulations?

Accepted Answer

Regulations are issued by the U.S.Treasu

Question 12

The primary purpose of effective tax planning is to reduce or defer the tax in the current tax year.

Accepted Answer

A) True 
 B)False

Question 13

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 these 
A) Taxation Committee 
B) Ways and Means Committee 
C) Finance Committee 
D) Budget Committee 
E) None of these

Question 14

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties (some

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

The IRS will not acquiesce to the following tax decisions:

Accepted Answer

A) U.S. District Court. 
B) U.S. Tax Court. 
C) U.S. Court of Federal Claims. 
D) Small Case Division of the U.S. Tax Court. 
E) All of these. 
A) U.S. District Court. 
B) U.S. Tax Court. 
C) U.S. Court of Federal Claims. 
D) Small Case Division of the U.S. Tax Court. 
E) All of these.

Question 18

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 19

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 20

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.

Exam 2: Working With the Tax Law

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

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.

Electronic (online) databases are most frequently searched by the keyword approach.

If a taxpayer decides not to pay a tax deficiency,he or she must go to which court?

Which court decision would probably carry more weight?

Tax planning usually involves a completed transaction.

Three judges will normally hear each U.S.Tax Court case.

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

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

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S.Court of Federal Claims.Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.

What are Treasury Department Regulations?

The primary purpose of effective tax planning is to reduce or defer the tax in the current tax year.

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

How do treaties fit within tax sources?

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

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

The IRS will not acquiesce to the following tax decisions:

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

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

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

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

Property Transactions, capital Gains and Losses, sec1231, and 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 Reorganization

Partnerships

S Corporations

Exempt Entities

Multistate Corporate Taxation

Taxation of International Transactions

Tax Practice and Ethics

The Federal Gift and Estate Taxes

Income Taxation of Trusts and Estates

Filters