Question 1

Which of the following indicates that a decision has precedential value for future cases?

Accepted Answer

A)  Stare decisis
B)  Golsen doctrine
C)  En banc
D)  Reenactment doctrine
E)  None of theseF) B) and D)
G) A) and D)

Question 2

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases Technical Advice Memoranda (TAMs) weekly.TAMs resemble letter rulings in that they give the IRS's determination of an issue.However, they differ in several respects.Letter rulings deal with proposed transactions and are issued to taxpayers at their request.In contrast, TAMs deal with completed transactions.Furthermore, TAMs arise from questions raised by IRS personnel during audits and are issued by the National Office of the IRS to its field personnel.TAMs are often requested for questions relating to exempt organizations and employee plans.TAMs are not officially published and may not be cited or used as precedent.

Question 3

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

Question 4

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) A) and E)
G) C) and E)

Question 5

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) All of the above
G) A) and B)

Question 6

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

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

The Internal Revenue Code was first codified in what year?

Accepted Answer

A)  1913
B)  1923
C)  1939
D)  1954
E)  1986F) A) and D)
G) C) and D) C

Question 9

The following citation is correct: Larry G.Mitchell, 131 T.C.215 (2008).

Accepted Answer

A) True 
 B)False

Question 10

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) C) and E)
G) A) and E)

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

A Revenue Ruling is a judicial source of Federal tax law.

Accepted Answer

A) True 
 B)False

Question 13

Which items tell taxpayers the IRS's reaction to certain court decisions?

Accepted Answer

A)  Notices
B)  Revenue Procedures
C)  Revenue Rulings
D)  Actions on Decisions
E)  Legislative RegulationsF) D) and E)
G) A) and B)

Question 14

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

Accepted Answer

A) True 
 B)False

Question 15

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 16

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

Question 17

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Accepted Answer

A) True 
 B)False

Question 18

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Accepted Answer

A) True 
 B)False

Question 19

Federal tax legislation generally originates in which of the following?

Accepted Answer

A)  Internal Revenue Service
B)  Senate Finance Committee
C)  House Ways and Means Committee
D)  Senate Floor
E)  None of theseF) A) and E)
G) A) and D)

Question 20

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

Accepted Answer

A) True 
 B)False  False

Exam 2: Working With the Tax Law

Which of the following indicates that a decision has precedential value for future cases?

Correct Answer
verified

What is a Technical Advice Memorandum?

Which of the following sources has the highest tax validity?

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

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

Correct Answer
verified

The Internal Revenue Code was first codified in what year?

Correct Answer
verified
C

The following citation is correct: Larry G.Mitchell, 131 T.C.215 (2008).

Correct Answer
verified

Which publisher offers the Standard Federal Tax Reporter?

Correct Answer
verified

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

Correct Answer
verified

A Revenue Ruling is a judicial source of Federal tax law.

Correct Answer
verified

Which items tell taxpayers the IRS's reaction to certain court decisions?

Correct Answer
verified

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

Correct Answer
verified

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

Correct Answer
verified

Which is not a primary source of tax law?

Correct Answer
verified

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Correct Answer
verified

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Correct Answer
verified

Federal tax legislation generally originates in which of the following?

Correct Answer
verified

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

Correct Answer
verified
False

Exam 2: Working With the Tax Law

Which of the following indicates that a decision has precedential value for future cases?

Correct AnswerverifiedShow Answer

What is a Technical Advice Memorandum?

Which of the following sources has the highest tax validity?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Internal Revenue Code was first codified in what year?

Correct AnswerverifiedC

The following citation is correct: Larry G.Mitchell, 131 T.C.215 (2008).

Correct AnswerverifiedShow Answer

Which publisher offers the Standard Federal Tax Reporter?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A Revenue Ruling is a judicial source of Federal tax law.

Correct AnswerverifiedShow Answer

Which items tell taxpayers the IRS's reaction to certain court decisions?

Correct AnswerverifiedShow Answer

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which is not a primary source of tax law?

Correct AnswerverifiedShow Answer

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Correct AnswerverifiedShow Answer

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Correct AnswerverifiedShow Answer

Federal tax legislation generally originates in which of the following?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedFalse

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
C

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
False