Question 1

House members have considerable latitude to make amendments on the House floor.

Accepted Answer

A) True 
 B)False

Question 2

Which publisher offers the United States Tax Reporter?

Accepted Answer

A)   Research Institute of America.
B)   Commerce Clearing House.
C)   LexisNexis.
D)   Tax Analysts.
E)   None of the above.F) A) and B)
G) B) and D)

Question 3

Temporary Regulations are first published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 4

Which is presently not a major tax service?

Accepted Answer

A)   Standard Federal Tax Reporter.
B)   Federal Taxes.
C)   United States Tax Reporter.
D)   Tax Management Portfolios.
E)   All of the above are major tax services.F) B) and C)
G) None of the above

Question 5

An easy way to locate a journal article pertinent to a tax problem is through Commerce Clearing House's Federal Tax Articles.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following is not an administrative source of the tax law?

Accepted Answer

A)   General Counsel Memoranda.
B)   Revenue Procedures.
C)   Technical Advice Memoranda.
D)   Actions on Decisions.
E)   All of the above are administrative sources.F) B) and E)
G) B) and D)

Question 7

Technical Advice Memoranda deal with proposed transactions.

Accepted Answer

A) True 
 B)False

Question 8

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.

Accepted Answer

A) True 
 B)False

Question 9

Subchapter S covers which specific area of tax law?

Accepted Answer

A)   Simplification.
B)   Deductions.
C)   Capital gains and losses.
D)   Tax rates.
E)   None of the above.F) B) and C)
G) None of the above

Question 10

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 11

Which statement is false with respect to tax treaties?

Accepted Answer

A)   There is a $1,000 penalty per failure to disclose on the tax return where there is a direct treaty conflict for an individual.
B)   There is a $10,000 penalty per failure to disclose on the tax return where there is a direct treaty conflict for a corporation.
C)   Treaties override the Code when in conflict.
D)   Treaties may override a Code section when in conflict.
E)   None of the above.F) A) and B)
G) A) and C)

Question 12

Interpretive Regulations do not have the force and effect of law.

Accepted Answer

A) True 
 B)False

Question 13

Among the approaches available for online tax research are a keyword approach,a table of contents approach,an index approach,and a citation approach.

Accepted Answer

A) True 
 B)False

Question 14

The Golsen rule has not been overturned by the U.S.Supreme Court.

Accepted Answer

A) True 
 B)False

Question 15

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme...

Question 16

Explain the difference between tax avoidance and tax evasion.

Accepted Answer

A fine line exists between legal tax pla...

Question 17

Which court decision carries less weight?

Accepted Answer

A)   Federal District Court.
B)   Fifth Circuit Court of Appeals.
C)   Memorandum U.S. Tax Court decision.
D)   Small Cases Division of U.S. Tax Court.
E)   U.S. Court of Federal Claims.F) B) and E)
G) B) and D)

Question 18

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

Accepted Answer

A) True 
 B)False

Question 19

Proposed Regulations are often cited by the various courts.

Accepted Answer

A) True 
 B)False

Question 20

Before 1943,the U.S.Tax Court was called the Board of Tax Appeals.

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

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.

Correct AnswerverifiedShow Answer

Subchapter S covers which specific area of tax law?

Correct AnswerverifiedShow Answer

Which court decision carries less weight?

Correct AnswerverifiedShow Answer

Which statement is false with respect to tax treaties?

Correct AnswerverifiedShow Answer

Explain the difference between tax avoidance and tax evasion.

Correct AnswerverifiedA fine line exists between legal tax pla...View AnswerShow Answer

Temporary Regulations are first published in the Internal Revenue Bulletin.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which publisher offers the United States Tax Reporter?

Correct AnswerverifiedShow Answer

The Golsen rule has not been overturned by the U.S.Supreme Court.

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 of the following is not an administrative source of the tax law?

Correct AnswerverifiedShow Answer

Compare Revenue Rulings with Revenue Procedures.

Correct AnswerverifiedRevenue Rulings are official pronounceme...View AnswerShow Answer

Before 1943,the U.S.Tax Court was called the Board of Tax Appeals.

Correct AnswerverifiedShow Answer

House members have considerable latitude to make amendments on the House floor.

Correct AnswerverifiedShow Answer

Proposed Regulations are often cited by the various courts.

Correct AnswerverifiedShow Answer

Technical Advice Memoranda deal with proposed transactions.

Correct AnswerverifiedShow Answer

Among the approaches available for online tax research are a keyword approach,a table of contents approach,an index approach,and a citation approach.

Correct AnswerverifiedShow Answer

Interpretive Regulations do not have the force and effect of law.

Correct AnswerverifiedShow Answer

Which is presently not a major tax service?

Correct AnswerverifiedShow Answer

An easy way to locate a journal article pertinent to a tax problem is through Commerce Clearing House's Federal Tax Articles.

Correct AnswerverifiedShow Answer

Correct Answer
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A fine line exists between legal tax pla...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Revenue Rulings are official pronounceme...
View Answer

Correct Answer
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