Question 1

Which of the following types of Regulations has the highest tax validity?

Accepted Answer

A)   Temporary
B)   Legislative
C)   Interpretive
D)   Procedural
E)   None of theseF) B) and D)
G) C) and D)

Question 2

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 3

Which is a primary source of tax law?

Accepted Answer

A)   Serverino R. Nico, Jr., 67 T.C. 647 1977) .
B)   Article by a Federal judge in Tax Notes.
C)   An IRS publication.
D)   Written determination letter.
E)   All of the above are primary sources.F) B) and E)
G) A) and C)

Question 4

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases ...

Question 5

Determination letters usually involve completed transactions.

Accepted Answer

A) True 
 B)False

Question 6

Revenue Rulings are first published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 7

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 8

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.F) A) and E)
G) B) and D)

Question 9

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

Accepted Answer

A) True 
 B)False

Question 10

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) C) and D)
G) A) and B)

Question 11

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 ClaimsF) C) and D)
G) A) and B)

Question 12

The research process should always begin with a tax service.

Accepted Answer

A) True 
 B)False

Question 13

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties somet...

Question 14

The Internal Revenue Code was first codified in what year?

Accepted Answer

A)   1913
B)   1923
C)   1939
D)   1954
E)   1986F) A) and B)
G) None of the above

Question 15

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.F) None of the above
G) A) and E)

Question 16

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

Accepted Answer

A) True 
 B)False

Question 19

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Accepted Answer

A) True 
 B)False

Question 20

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.F) B) and E)
G) A) and B)

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which court decision would probably carry more weight?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Internal Revenue Code was first codified in what year?

Correct AnswerverifiedShow Answer

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

Correct AnswerverifiedShow Answer

A taxpayer may not appeal a case from which court:

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What statement is not true with respect to Temporary Regulations?

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Which of the following types of Regulations has the highest tax validity?

Correct AnswerverifiedShow Answer

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

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Determination letters usually involve completed transactions.

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How do treaties fit within tax sources?

Correct AnswerverifiedThe U.S signs certain tax treaties somet...View AnswerShow Answer

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

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What is a Technical Advice Memorandum?

Correct AnswerverifiedThe National Office of the IRS releases ...View AnswerShow Answer

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

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Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Correct AnswerverifiedShow Answer

Revenue Rulings are first published in the Internal Revenue Bulletin.

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The research process should always begin with a tax service.

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Which is a primary source of tax law?

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The U.S signs certain tax treaties somet...
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The National Office of the IRS releases ...
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