Question 1

Which of the following authorities can help the taxpayer interpret a new tax law soon (i.e.during the first few months) after it becomes law?

Accepted Answer

A)  Treasury Regulations.
B)  Committee Reports.
C)  Revenue Rulings.
D)  Internal Revenue Code.
E)  Court Cases.

Question 2

Match the primary source to its reporter.
-Tax statute

Accepted Answer

A)  Tax Court Reports
B)  United States Tax Cases
C)  Internal Revenue Code
D)  Cumulative Bulletin
E)  Not a primary source

Question 3

During the past week,Dennis contacted his CPA to obtain advice on the most advantageous way to make a generous contribution to the accounting program at his alma mater.The CPA's work is

Accepted Answer

A)  A tax planning situation.
B)  A tax compliance situation.
C)  A closed-fact situation.
D)  A mediation situation.
E)  An unknown-fact situation.

Question 4

Which of the following is (are) secondary sources of tax law?
I.Joint Conference Committee Reports.
II.Journal of Taxation
III.Revenue Procedures.
IV.Tax Treaty with France.
V.U.S.Tax Court Memorandum Decisions.
​

Accepted Answer

A)  Only statement IV is correct.
B)  Only statement II is correct.
C)  Statements II and III are correct.
D)  Statements I,II,III,and V are correct.
E)  Statements I,II,III,IV,and V are correct.

Question 5

Search engines used in computer-assisted tax research tools provide advantages over manual searches.

Accepted Answer

A) True 
 B)False

Question 6

The initial appeal from the U.S.Court of Federal Claims is to the

Accepted Answer

A)  U.S.District Court.
B)  U.S.Tax Court.
C)  U.S.Supreme Court.
D)  U.S.Court of Appeals for the Federal Circuit.

Question 7

What body prepares a compromise version of tax legislation when the House and Senate versions are not in agreement?

Accepted Answer

A)  Arbitration Committee.
B)  Joint Committee on Taxation.
C)  House Ways and Means Committee.
D)  Judiciary Committee.
E)  Joint Conference Committee. E

Question 8

Tax regulations are first issued in

Accepted Answer

A)  Proposed form
B)  Revised form
C)  Temporary form
D)  Final form
E)  Either A or C

Question 9

Taxpayers may choose one of several different courts in which to initiate litigation.Discuss the pros and cons of the different trial level courts.

Accepted Answer

The U.S.Tax Court specializes in tax mat...

Question 10

Primary sources of tax law include
I.Treasury Regulations.
II.IRS Revenue Procedures.
III.Internal Revenue Code of 1986.
IV.The Tax Law Review.
​

Accepted Answer

A)  Only statement III is correct.
B)  Statements II and III are correct.
C)  Only statement I is correct.
D)  Statements I,II,and III are correct.
E)  Statements I,II,III,and IV are correct. D

Question 11

The IRS may acquiesce or nonacquiesce to decisions from which of the following courts:

Accepted Answer

A)  U.S.Tax Court.
B)  U.S.District Court.
C)  U.S.Court of Appeals.
D)  U.S.Court of Federal Claims.
E)  All of the above.

Question 12

Dwayne is upset by an IRS agent's decision after an audit of Dwayne's tax return.Dwayne tells you,"I'm taking this case all the way to the Supreme Court." Comment on the appropriateness of Dwayne's statement.

Accepted Answer

Taxpayers must be granted a writ of cert...

Question 13

Which of the following is true of revenue rulings?

Accepted Answer

A)  Lower courts are bound by them.
B)  They are a subset of Treasury Regulations.
C)  Once affirmed by an appellate court,they have the force of law.
D)  Although they represent the official policy of the IRS,courts may overrule them.
E)  All of the above.

Question 14

Which of the following is/ are trial level courts for tax cases?
I.U.S.Court of Federal Claims.
II.U.S.Supreme Court.
III.U.S.Court of Appeals for the Federal Circuit.
IV.U.S.Court of Appeals for the Tenth Circuit.
V.U.S.District Court.
​

Accepted Answer

A)  Only statement V is correct.
B)  Only statement II is correct.
C)  Statements I and V are correct.
D)  Statements II,III,and IV are correct.
E)  Statements I,II,III,IV,and V are correct.

Question 15

Match each statement with the correct term below.
-Joint Committee on Taxation

Accepted Answer

A)  Where federal tax legislation generally originates.
B)  Has jurisdiction over all tax matters in the U.S.Senate.
C)  The committee responsible for initial hearings and deliberations on a tax bill.
D)  Responsible for negotiating a resolution of the differences in the House and Senate versions of a tax bill.
E)  The agency within the administrative branch of government with overall responsibility for administration of tax law.F) Oversees the operation and administration of the tax system as a whole,and prepares a general explanation of any tax bill signed by the President. F

Question 16

The most important source of current federal income tax law is the

Accepted Answer

A)  Internal Revenue Code of 1986,as amended.
B)  IRS.
C)  U.S.Supreme Court.
D)  U.S.Tax Court.

Question 17

The acquiescence policy of the IRS extends to

Accepted Answer

A)  the U.S.Tax Court
B)  the U.S.District Court
C)  the U.S.Circuit Court of Appeals
D)  All of the above

Question 18

Which of the following sources of tax law authority has the highest tax validity?

Accepted Answer

A)  Cumulative Bulletin.
B)  Tax Court Decision.
C)  Revenue Ruling.
D)  Internal Revenue Code Section.
E)  Regulation Section.

Question 19

Match the primary source to its reporter.
-Revenue Ruling 86-457

Accepted Answer

A)  Tax Court Reports
B)  United States Tax Cases
C)  Internal Revenue Code
D)  Cumulative Bulletin
E)  Not a primary source

Question 20

Match each statement with the correct term below.
-House of Representatives

Accepted Answer

A)  Where federal tax legislation generally originates.
B)  Has jurisdiction over all tax matters in the U.S.Senate.
C)  The committee responsible for initial hearings and deliberations on a tax bill.
D)  Responsible for negotiating a resolution of the differences in the House and Senate versions of a tax bill.
E)  The agency within the administrative branch of government with overall responsibility for administration of tax law.F) Oversees the operation and administration of the tax system as a whole,and prepares a general explanation of any tax bill signed by the President.

Exam 16: Tax Research

Which of the following authorities can help the taxpayer interpret a new tax law soon (i.e.during the first few months) after it becomes law?

Correct AnswerverifiedShow Answer

Match the primary source to its reporter. -Tax statute

Correct AnswerverifiedShow Answer

During the past week,Dennis contacted his CPA to obtain advice on the most advantageous way to make a generous contribution to the accounting program at his alma mater.The CPA's work is

Correct AnswerverifiedShow Answer

Which of the following is (are) secondary sources of tax law? I.Joint Conference Committee Reports. II.Journal of Taxation III.Revenue Procedures. IV.Tax Treaty with France. V.U.S.Tax Court Memorandum Decisions. ​

Correct AnswerverifiedShow Answer

Search engines used in computer-assisted tax research tools provide advantages over manual searches.

Correct AnswerverifiedShow Answer

The initial appeal from the U.S.Court of Federal Claims is to the

Correct AnswerverifiedShow Answer

What body prepares a compromise version of tax legislation when the House and Senate versions are not in agreement?

Correct AnswerverifiedE

Tax regulations are first issued in

Correct AnswerverifiedShow Answer

Taxpayers may choose one of several different courts in which to initiate litigation.Discuss the pros and cons of the different trial level courts.

Correct AnswerverifiedThe U.S.Tax Court specializes in tax mat...View AnswerShow Answer

Primary sources of tax law include I.Treasury Regulations. II.IRS Revenue Procedures. III.Internal Revenue Code of 1986. IV.The Tax Law Review. ​

Correct AnswerverifiedD

The IRS may acquiesce or nonacquiesce to decisions from which of the following courts:

Correct AnswerverifiedShow Answer

Dwayne is upset by an IRS agent's decision after an audit of Dwayne's tax return.Dwayne tells you,"I'm taking this case all the way to the Supreme Court." Comment on the appropriateness of Dwayne's statement.

Correct AnswerverifiedTaxpayers must be granted a writ of cert...View AnswerShow Answer

Which of the following is true of revenue rulings?

Correct AnswerverifiedShow Answer

Which of the following is/ are trial level courts for tax cases? I.U.S.Court of Federal Claims. II.U.S.Supreme Court. III.U.S.Court of Appeals for the Federal Circuit. IV.U.S.Court of Appeals for the Tenth Circuit. V.U.S.District Court. ​

Correct AnswerverifiedShow Answer

Match each statement with the correct term below. -Joint Committee on Taxation

Correct AnswerverifiedF

The most important source of current federal income tax law is the

Correct AnswerverifiedShow Answer

The acquiescence policy of the IRS extends to

Correct AnswerverifiedShow Answer

Which of the following sources of tax law authority has the highest tax validity?

Correct AnswerverifiedShow Answer

Match the primary source to its reporter. -Revenue Ruling 86-457

Correct AnswerverifiedShow Answer

Match each statement with the correct term below. -House of Representatives

Correct AnswerverifiedShow Answer

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Which of the following is (are) secondary sources of tax law? I.Joint Conference Committee Reports. II.Journal of Taxation III.Revenue Procedures. IV.Tax Treaty with France. V.U.S.Tax Court Memorandum Decisions.

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E

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The U.S.Tax Court specializes in tax mat...
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Primary sources of tax law include I.Treasury Regulations. II.IRS Revenue Procedures. III.Internal Revenue Code of 1986. IV.The Tax Law Review.

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D

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Taxpayers must be granted a writ of cert...
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Which of the following is/ are trial level courts for tax cases? I.U.S.Court of Federal Claims. II.U.S.Supreme Court. III.U.S.Court of Appeals for the Federal Circuit. IV.U.S.Court of Appeals for the Tenth Circuit. V.U.S.District Court.

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F

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