Question 1

The first codification of the tax law occurred in 1954.

Accepted Answer

A) True 
 B)False

Question 2

Tax research involves which of the following procedures:

Accepted Answer

A)  Identifying and refining the problem.
B)  Locating the appropriate tax law sources.
C)  Assessing the validity of the tax law sources.
D)  Follow-up.
E)  All of these.F) A) and B)
G) C) and D)

Question 3

Which of the following court decisions carries more weight?

Accepted Answer

A)  Federal District Court
B)  Second Circuit Court of Appeals
C)  U.S. Tax Court decision
D)  Small Cases Division of U.S. Tax Court
E)  U.S. Court of Federal ClaimsF) A) and B)
G) A) and C)

Question 4

Determination letters usually involve completed transactions.

Accepted Answer

A) True 
 B)False

Question 5

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 theseF) C) and E)
G) B) and E)

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Temporary Regulations are only published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 8

A taxpayer may not appeal a case from which court:

Accepted Answer

A)  U.S. District Court.
B)  U.S. Circuit Court of Appeals.
C)  U.S. Court of Federal Claims.
D)  Small Case Division of the U.S. Tax Court.
E)  None of these.F) B) and C)
G) D) and E)

Question 9

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

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 theseF) All of the above
G) A) and D)

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

The IRS is not required to make a letter ruling public.

Accepted Answer

A) True 
 B)False

Question 13

Deferring income to a subsequent year is considered to be tax avoidance.

Accepted Answer

A) True 
 B)False

Question 14

The Golsen rule has been overturned by the U.S.Supreme Court.

Accepted Answer

A) True 
 B)False

Question 15

The U.S.Tax Court meets most often in Washington,D.C.

Accepted Answer

A) True 
 B)False

Question 16

The granting of a Writ of Certiorari indicates that at least four members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.

Accepted Answer

A) True 
 B)False

Question 17

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 theseF) A) and E)
G) A) and D)

Question 18

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.F) C) and E)
G) A) and E)

Question 19

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 theseF) None of the above
G) All of the above

Question 20

Which company does not publish citators for tax purposes?

Accepted Answer

A)  John Wiley & Sons
B)  Commerce Clearing House
C)  Thomson Reuters, RIA
D)  Westlaw
E)  Shepard'sF) B) and C)
G) C) and D)

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

A taxpayer may not appeal a case from which court:

Correct AnswerverifiedShow Answer

Which of the following court decisions carries more weight?

Correct AnswerverifiedShow Answer

Determination letters usually involve completed transactions.

Correct AnswerverifiedShow Answer

The Golsen rule has been overturned by the U.S.Supreme Court.

Correct AnswerverifiedShow Answer

The U.S.Tax Court meets most often in Washington,D.C.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which publisher offers the Standard Federal Tax Reporter?

Correct AnswerverifiedShow Answer

Deferring income to a subsequent year is considered to be tax avoidance.

Correct AnswerverifiedShow Answer

Temporary Regulations are only published in the Internal Revenue Bulletin.

Correct AnswerverifiedShow Answer

Which company does not publish citators for tax purposes?

Correct AnswerverifiedShow Answer

The granting of a Writ of Certiorari indicates that at least four members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.

Correct AnswerverifiedShow Answer

Which of the following sources has the highest tax validity?

Correct AnswerverifiedShow Answer

Tax research involves which of the following procedures:

Correct AnswerverifiedShow Answer

The IRS is not required to make a letter ruling public.

Correct AnswerverifiedShow Answer

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which Regulations have the force and effect of law?

Correct AnswerverifiedShow Answer

The first codification of the tax law occurred in 1954.

Correct AnswerverifiedShow Answer

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