Question 1

Which citation refers to a U.S.Tax Court decision?

Accepted Answer

A)  Apollo Computer, Inc.v.U.S., 95-1 (USTC ¶50,015 (Fed.Cl., 1994) 
B)  Westreco, Inc., T.C.Memo.1992-561 (1992) .
C)  Bausch & Lomb, Inc.v.Comm., 933 F.2d 1084 (CA-2, 1991) .
D)  Portland Manufacturing Co.v.Comm., 35 AFTR2d 1439 (CA-9, 1975) .
E)  None of these.F) A) and D)
G) A) and C)

Question 2

The first codification of the tax law occurred in 1954.

Accepted Answer

A) True 
 B)False

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Question 7

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

Accepted Answer

A)  Field Service Advice
B)  Revenue Procedure
C)  Technical Advice Memoranda
D)  General Counsel Memorandum
E)  All of these are administrative sources.F) C) and D)
G) All of the above

Question 8

Memorandum decision of the U.S.Tax Court could be cited as:

Accepted Answer

A)  T.C.Memo.1990-650.
B)  68-1 USTC ¶9200.
C)  37 AFTR.2d 456.
D)  All of the above.
E)  None of these.F) A) and D)
G) C) and D)

Question 9

This Internal Revenue Code section citation is incorrect: § 212(1).

Accepted Answer

A) True 
 B)False

Question 10

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) C) and D)
G) None of the above

Question 11

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Accepted Answer

A) True 
 B)False

Question 12

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

Question 13

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) B) and D)
G) B) and E)

Question 14

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) C) and D)
G) D) and E)

Question 15

Deferring income to a subsequent year is considered to be tax avoidance.

Accepted Answer

A) True 
 B)False

Question 16

Which citation refers to a Second Circuit Court of Appeals decision?

Accepted Answer

A)  40 T.C.1018.
B)  159 F.2d 848 (CA-2, 1947) .
C)  354 F.Supp.1003 (D.Ct.GA.1972) .
D)  914 F.2d 396 (CA-3, 1990) .
E)  None of these.F) B) and D)
G) A) and E)

Question 17

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

Question 18

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016).The Internal Revenue Code section controls.

Accepted Answer

A) True 
 B)False

Question 19

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) B) and C)

Question 20

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases ...

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Federal tax legislation generally originates in which of the following?

Correct AnswerverifiedShow Answer

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Correct AnswerverifiedShow Answer

Which of the following sources has the highest tax validity?

Correct AnswerverifiedShow Answer

This Internal Revenue Code section citation is incorrect: § 212(1).

Correct AnswerverifiedShow Answer

Which Regulations have the force and effect of law?

Correct AnswerverifiedShow Answer

There is a direct conflict between an Internal Revenue Code section adopted in 2010 and a treaty with France (signed in 2016).The Internal Revenue Code section controls.

Correct AnswerverifiedShow Answer

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

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What statement is not true with respect to Temporary Regulations?

Correct AnswerverifiedShow Answer

Memorandum decision of the U.S.Tax Court could be cited as:

Correct AnswerverifiedShow Answer

The first codification of the tax law occurred in 1954.

Correct AnswerverifiedShow Answer

A taxpayer may not appeal a case from which court:

Correct AnswerverifiedShow Answer

Deferring income to a subsequent year is considered to be tax avoidance.

Correct AnswerverifiedShow Answer

What is a Technical Advice Memorandum?

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

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

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Which publisher offers the Standard Federal Tax Reporter?

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Which citation refers to a Second Circuit Court of Appeals decision?

Correct AnswerverifiedShow Answer

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

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Which citation refers to a U.S.Tax Court decision?

Correct AnswerverifiedShow Answer

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The National Office of the IRS releases ...
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