Question 1

The research process should always begin with a tax service.

Accepted Answer

A) True 
 B)False  False

Question 2

Which publisher offers the Standard Federal Tax Reporter?

Accepted Answer

A)  Research Institute of America 
B)  Commerce Clearing House 
C)  Thomson Reuters 
D)  LexisNexis 
E)  None of these 
A)  Research Institute of America 
B)  Commerce Clearing House 
C)  Thomson Reuters 
D)  LexisNexis 
E)  None of these B

Question 3

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False  True

Question 4

In general, Regulations are issued immediately after a statute is enacted.

Accepted Answer

A) True 
 B)False

Question 5

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases

Question 6

Which tax-related website probably gives the best policy-orientation results?

Accepted Answer

A)  taxalmanac.org. 
B)  irs.gov. 
C)  taxsites.com. 
D)  taxanalysts.com. 
E)  ustaxcourt.gov. 
A)  taxalmanac.org. 
B)  irs.gov. 
C)  taxsites.com. 
D)  taxanalysts.com. 
E)  ustaxcourt.gov.

Question 7

A jury trial is available in the following trial court:

Accepted Answer

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

Question 8

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

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Which citation refers to a U.S. Tax Court decision?

Accepted Answer

A)  Apollo Computer, Inc. v. U.S., 95-1 (USTC ¶50,015 (Fed.Cl., 1994) 
B)  Westreco, Inc., T.C. Memo. 1992-561 (1992). 
C)  Bausch & Lomb, Inc. v. Comm., 933 F.2d 1084 (CA-2, 1991). 
D)  Portland Manufacturing Co. v. Comm., 35 AFTR2d 1439 (CA-9, 1975). 
E)  None of the above. 
A)  Apollo Computer, Inc. v. U.S., 95-1 (USTC ¶50,015 (Fed.Cl., 1994) 
B)  Westreco, Inc., T.C. Memo. 1992-561 (1992). 
C)  Bausch & Lomb, Inc. v. Comm., 933 F.2d 1084 (CA-2, 1991). 
D)  Portland Manufacturing Co. v. Comm., 35 AFTR2d 1439 (CA-9, 1975). 
E)  None of the above.

Question 11

In addressing the importance of a Regulation, an IRS agent must:

Accepted Answer

A)  Give equal weight to the Internal Revenue Code and the Regulations. 
B)  Give more weight to the Internal Revenue Code rather than to a Regulation. 
C)  Give more weight to the Regulation rather than to the Internal Revenue Code. 
D)  Give less weight to the Internal Revenue Code rather than to a Regulation. 
E)  None of these. 
A)  Give equal weight to the Internal Revenue Code and the Regulations. 
B)  Give more weight to the Internal Revenue Code rather than to a Regulation. 
C)  Give more weight to the Regulation rather than to the Internal Revenue Code. 
D)  Give less weight to the Internal Revenue Code rather than to a Regulation. 
E)  None of these.

Question 12

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

Accepted Answer

A) True 
 B)False

Question 13

When searching on an electronic (online) tax service, which approach is more frequently used?

Accepted Answer

A)  Internal Revenue Code section approach 
B)  Keyword approach 
C)  Table of contents approach 
D)  Index 
E)  All are about the same 
A)  Internal Revenue Code section approach 
B)  Keyword approach 
C)  Table of contents approach 
D)  Index 
E)  All are about the same

Question 14

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme

Question 15

Subtitle A of the Internal Revenue Code covers which of the following taxes?

Accepted Answer

A)  Income taxes 
B)  Estate and gift taxes 
C)  Excise taxes 
D)  Employment taxes 
E)  All of these 
A)  Income taxes 
B)  Estate and gift taxes 
C)  Excise taxes 
D)  Employment taxes 
E)  All of these

Question 16

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 17

Revenue tax measures typically originate in the Senate Finance Committee of the U.S. Congress.

Accepted Answer

A) True 
 B)False

Question 18

There are 11 geographic U.S. Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Which is not a primary source of tax law?

Accepted Answer

A)  Notice 89-99, 1989-2 C.B. 422. 
B)  Estate of Harry Holmes v. Comm., 326 U.S. 480 (1946). 
C)  Rev. Rul. 79-353, 1979-2 C.B. 325. 
D)  Prop. Reg. § 1.752-4T(f). 
E)  All of these are primary sources. 
A)  Notice 89-99, 1989-2 C.B. 422. 
B)  Estate of Harry Holmes v. Comm., 326 U.S. 480 (1946). 
C)  Rev. Rul. 79-353, 1979-2 C.B. 325. 
D)  Prop. Reg. § 1.752-4T(f). 
E)  All of these are primary sources.

Exam 2: Working with the Tax Law

The research process should always begin with a tax service.

Which publisher offers the Standard Federal Tax Reporter?

Technical Advice Memoranda deal with completed transactions.

In general, Regulations are issued immediately after a statute is enacted.

What is a Technical Advice Memorandum?

Which tax-related website probably gives the best policy-orientation results?

A jury trial is available in the following trial court:

Which item may not be cited as a precedent?

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

Which citation refers to a U.S. Tax Court decision?

In addressing the importance of a Regulation, an IRS agent must:

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

When searching on an electronic (online) tax service, which approach is more frequently used?

Compare Revenue Rulings with Revenue Procedures.

Subtitle A of the Internal Revenue Code covers which of the following taxes?

Arizona is in the jurisdiction of the Eighth Circuit Court of Appeals.

Revenue tax measures typically originate in the Senate Finance Committee of the U.S. Congress.

There are 11 geographic U.S. Circuit Court of Appeals.

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

Which is not a primary 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, Section 1231, and Recapture Provisions

Taxing Business Income

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

The Federal Gift and Estate Taxes

Income Taxation of Trusts and Estates

Filters