Question 1

What impact has the community property system had on our Federal tax laws?

Accepted Answer

The position of the residents of communi

Question 2

Regulations are issued by the Internal Revenue Service.

Accepted Answer

A) True 
 B)False

Question 3

What are the key components of tax planning?

Accepted Answer

The answer of What are the key components of tax...

Question 4

Determination letters usually involve completed,as opposed to proposed,transactions.

Accepted Answer

A) True 
 B)False

Question 5

A taxpayer may select the District Court that will hear his or her tax dispute.

Accepted Answer

A) True 
 B)False

Question 6

Proposed Regulations issued simultaneously with Temporary Regulations carry more weight than traditional Proposed Regulations.

Accepted Answer

A) True 
 B)False

Question 7

Which provision could best be justified as a means of controlling the economy?

Accepted Answer

A) Write-off of research and development expenditures. 
B) Accelerated depreciation method for depreciable capital expenditures. 
C) Amortization of pollution control facilities. 
D) The rehabilitation tax credit. 
E) None of the above. 
A) Write-off of research and development expenditures. 
B) Accelerated depreciation method for depreciable capital expenditures. 
C) Amortization of pollution control facilities. 
D) The rehabilitation tax credit. 
E) None of the above.

Question 8

Stare decisis applies to Small Cases Division decisions.

Accepted Answer

A) True 
 B)False

Question 9

The Supreme Court must hear all cases appealed from the U.S.Court of Appeals for the Federal Circuit.

Accepted Answer

A) True 
 B)False

Question 10

An international treaty takes precedence over a provision in the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 11

Revenue Procedures are published weekly by the U.S.Government in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 12

The deduction for charitable contributions can be explained by social considerations.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following courts has the lowest tax validity?

Accepted Answer

A) U.S.Court of Appeals for the Federal Circuit. 
B) U.S.Court of Appeals for the Second Circuit. 
C) U.S.Tax Court. 
D) U.S.Supreme Court. 
E) All have the same validity. 
A) U.S.Court of Appeals for the Federal Circuit. 
B) U.S.Court of Appeals for the Second Circuit. 
C) U.S.Tax Court. 
D) U.S.Supreme Court. 
E) All have the same validity.

Question 14

Saving leads to capital formation and thus makes funds available to finance home construction and industrial expansion.

Accepted Answer

A) True 
 B)False

Question 15

Which provision is not justified by social considerations?

Accepted Answer

A) Refundable earned income credit. 
B) Adoption tax credit. 
C) Like-kind exchange treatment. 
D) Disallowance of illegal kickbacks. 
E) None of the above. 
A) Refundable earned income credit. 
B) Adoption tax credit. 
C) Like-kind exchange treatment. 
D) Disallowance of illegal kickbacks. 
E) None of the above.

Question 16

The U.S.Tax Court has 16 regular judges,and the Court of Federal Claims has 19 judges.

Accepted Answer

A) True 
 B)False

Question 17

Subchapter P refers to the subchapter in the Internal Revenue Code that deals with partners and partnerships.

Accepted Answer

A) True 
 B)False

Question 18

Revenue-neutral tax laws reduce deficits.

Accepted Answer

A) True 
 B)False

Question 19

The U.S.Federal government has a provision in the Constitution which precludes deficit spending.

Accepted Answer

A) True 
 B)False

Question 20

The adoption tax credit can be explained by social considerations.

Accepted Answer

A) True 
 B)False

What impact has the community property system had on our Federal tax laws?

Regulations are issued by the Internal Revenue Service.

What are the key components of tax planning?

Determination letters usually involve completed,as opposed to proposed,transactions.

A taxpayer may select the District Court that will hear his or her tax dispute.

Proposed Regulations issued simultaneously with Temporary Regulations carry more weight than traditional Proposed Regulations.

Which provision could best be justified as a means of controlling the economy?

Stare decisis applies to Small Cases Division decisions.

The Supreme Court must hear all cases appealed from the U.S.Court of Appeals for the Federal Circuit.

An international treaty takes precedence over a provision in the Internal Revenue Code.

Revenue Procedures are published weekly by the U.S.Government in the Internal Revenue Bulletin.

The deduction for charitable contributions can be explained by social considerations.

Which of the following courts has the lowest tax validity?

Saving leads to capital formation and thus makes funds available to finance home construction and industrial expansion.

Which provision is not justified by social considerations?

The U.S.Tax Court has 16 regular judges,and the Court of Federal Claims has 19 judges.

Subchapter P refers to the subchapter in the Internal Revenue Code that deals with partners and partnerships.

Revenue-neutral tax laws reduce deficits.

The U.S.Federal government has a provision in the Constitution which precludes deficit spending.

The adoption tax credit can be explained by social considerations.

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

What impact has the community property system had on our Federal tax laws?

Regulations are issued by the Internal Revenue Service.

What are the key components of tax planning?

Determination letters usually involve completed,as opposed to proposed,transactions.

A taxpayer may select the District Court that will hear his or her tax dispute.

Proposed Regulations issued simultaneously with Temporary Regulations carry more weight than traditional Proposed Regulations.

Which provision could best be justified as a means of controlling the economy?

Stare decisis applies to Small Cases Division decisions.

The Supreme Court must hear all cases appealed from the U.S.Court of Appeals for the Federal Circuit.

An international treaty takes precedence over a provision in the Internal Revenue Code.

Revenue Procedures are published weekly by the U.S.Government in the Internal Revenue Bulletin.

The deduction for charitable contributions can be explained by social considerations.

Which of the following courts has the lowest tax validity?

Saving leads to capital formation and thus makes funds available to finance home construction and industrial expansion.

Which provision is not justified by social considerations?

The U.S.Tax Court has 16 regular judges,and the Court of Federal Claims has 19 judges.

Subchapter P refers to the subchapter in the Internal Revenue Code that deals with partners and partnerships.

Revenue-neutral tax laws reduce deficits.

The U.S.Federal government has a provision in the Constitution which precludes deficit spending.

The adoption tax credit can be explained by social considerations.

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