Question 1

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

Question 2

A jury trial is available in the following trial court:

Accepted Answer

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

Question 3

If a taxpayer decides not to pay a tax deficiency,he or she must go to which court?

Accepted Answer

A)   Appropriate U.S.Circuit Court of Appeals
B)   U.S.District Court
C)   U.S.Tax Court
D)   U.S.Court of Federal Claims
E)   None of theseF) A) and E)
G) C) and E) C

Question 4

The following citation can be a correct citation: Rev.Rul.95-271,1995-64 I.R.B.18.

Accepted Answer

A) True 
 B)False

Question 5

The Code section citation is incorrect: § 212(1).

Accepted Answer

A) True 
 B)False

Question 6

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

Question 7

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  True

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Electronic databases are most frequently searched by the keyword approach.

Accepted Answer

A) True 
 B)False

Question 11

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 12

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  True

Question 13

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) C) and D)
G) All of the above

Question 14

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) B) and E)
G) A) and B)

Question 15

The IRS will not acquiesce to the following tax decisions:

Accepted Answer

A)   U.S.District Court.
B)   U.S.Tax Court.
C)   U.S.Court of Federal Claims.
D)   Small Case Division of the U.S.Tax Court.
E)   All of these.F) C) and D)
G) A) and D)

Question 16

Which item may not be cited as a precedent?

Accepted Answer

A)   Regulations
B)   Temporary Regulations
C)   Technical Advice Memoranda
D)   U.S.District Court decision
E)   None of theseF) D) and E)
G) A) and B)

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

The primary purpose of effective tax planning is to reduce or defer the tax in the current tax year.

Accepted Answer

A) True 
 B)False

Question 19

Temporary Regulations are only published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

A jury trial is available in the following trial court:

Correct AnswerverifiedShow Answer

If a taxpayer decides not to pay a tax deficiency,he or she must go to which court?

Correct AnswerverifiedC

The following citation can be a correct citation: Rev.Rul.95-271,1995-64 I.R.B.18.

Correct AnswerverifiedShow Answer

The Code section citation is incorrect: § 212(1).

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedTrue

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Electronic databases are most frequently searched by the keyword approach.

Correct AnswerverifiedShow Answer

Tax planning usually involves a completed transaction.

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedTrue

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

Correct AnswerverifiedShow Answer

Which Regulations have the force and effect of law?

Correct AnswerverifiedShow Answer

The IRS will not acquiesce to the following tax decisions:

Correct AnswerverifiedShow Answer

Which item may not be cited as a precedent?

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 primary purpose of effective tax planning is to reduce or defer the tax in the current tax year.

Correct AnswerverifiedShow Answer

Temporary Regulations are only published in the Internal Revenue Bulletin.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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