Question 1

Which of the following sources has the highest tax validity?

Accepted Answer

A) Revenue Ruling 
B) Revenue Procedure 
C) Regulations 
D) Internal Revenue Code section 
E) None of these

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

Question 3

The first codification of the tax law occurred in 1954.

Accepted Answer

A) True 
 B)False

Question 4

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France signed in 2016).The Internal Revenue Code section controls.

Accepted Answer

A) True 
 B)False

Question 5

How do treaties fit within tax sources?

Accepted Answer

The answer of How do treaties fit within tax sources?...

Question 6

What statement is not true with respect to Temporary Regulations?

Accepted Answer

A) May not be cited as precedent. 
B) Issued with Proposed Regulations. 
C) Automatically expire within three years after the date of issuance. 
D) Found in the Federal Register. 
E) All of these statements are true.

Question 7

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

Question 8

Which company does not publish citators for tax purposes?

Accepted Answer

A) John Wiley & Sons 
B) Commerce Clearing House 
C) Thomson Reuters RI
A)  
D) Westlaw 
E) Shepard's

Question 9

Which statement is not true with respect to a Regulation that interprets the tax law?

Accepted Answer

A) Issued by the U.S.Congress. 
B) Issued by the U.S.Treasury Department. 
C) Designed to provide an interpretation of the tax law. 
D) Carries more legal force than a Revenue Ruling. 
E) All of these statements are true.

Question 10

Which Regulations have the force and effect of law?

Accepted Answer

A) Procedural Regulations 
B) Finalized Regulations 
C) Legislative Regulations 
D) Interpretive Regulations 
E) All of these

Question 11

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.

Question 12

What administrative release deals with a proposed transaction rather than a completed transaction?

Accepted Answer

A) Letter Ruling 
B) Technical Advice Memorandum 
C) Determination Letter 
D) Field Service Advice 
E) None of these

Question 13

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

Accepted Answer

A) Section 211 
B) Section 12221) 
C) Section 2a)1)
A)  
D) Section 280B 
E) All of these are correct cites.

Question 14

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.

Question 15

Memorandum decision of the U.S.Tax Court could be cited as:

Accepted Answer

A) T.C.Memo.1990-650. 
B) 68-1 USTC ¶9200. 
C) 37 AFTR.2d 456. 
D) All of the above. 
E) None of the above.

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.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 17

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 18

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

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

A taxpayer can obtain a jury trial in the U.S.Tax Court.

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

Which of the following sources has the highest 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.

The first codification of the tax law occurred in 1954.

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France signed in 2016).The Internal Revenue Code section controls.

How do treaties fit within tax sources?

What statement is not true with respect to Temporary Regulations?

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

Which company does not publish citators for tax purposes?

Which statement is not true with respect to a Regulation that interprets the tax law?

Which Regulations have the force and effect of law?

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

What administrative release deals with a proposed transaction rather than a completed transaction?

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

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

Memorandum decision of the U.S.Tax Court could be cited as:

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.

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

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

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

A taxpayer can obtain a jury trial in the U.S.Tax Court.