Question 1

A tax bill introduced in the House of Representatives is then

Accepted Answer

A)  referred to the House Ways and Means Committee for hearings and approval.
B)  referred to the entire House for hearings.
C)  voted upon by the entire House.
D)  forwarded to the Senate Finance Committee for consideration.E) All of the above
F) A) and D)

Question 2

What is the purpose of Treasury Regulations?

Accepted Answer

The Treasury Department issues regulatio...

Question 3

When the Tax Court follows the opinion of the circuit court of appeals to which the case is appealable,the court is following the

Accepted Answer

A)  Golsen rule.
B)  Acquiescence rule.
C)  Forum shopping rule.
D)  Conformity rule.E) C) and D)
F) B) and C)

Question 4

What is the difference between a taxpayer-requested letter ruling and a technical advice memorandum issued as a letter ruling?

Accepted Answer

A taxpayer-requested letter ru...

Question 5

Assume that you want to read a description of a particular area of the law,along with one or more illustrations of how that law is applied.You will not find that type of material in

Accepted Answer

A)  a citator.
B)  the Treasury Regulations.
C)  the Cumulative Bulletin.
D)  the Committee Reports.E) None of the above
F) B) and C)

Question 6

Your client wants to deduct commuting expenses on his tax return.You explain to the client that there is no legal authority allowing this deduction.The client,however,continues to insist on this action.What guidance do the Statements on Standards for Tax Services provide in this dilemma?

Accepted Answer

According to Statement on Tax Standards,...

Question 7

The Tax Court departs from its general policy of ruling uniformly for all taxpayers where

Accepted Answer

A)  a U.S.District Court has ruled differently on the issue in the taxpayer's jurisdiction.
B)  the U.S.Court of Federal Claims has ruled differently on the issue in the taxpayer's jurisdiction.
C)  the Court of Appeals in the circuit to which the Tax Court decision would be appealed has ruled differently on the issue.
D)  the IRS has indicated that it will acquiesce.E) C) and D)
F) A) and D)

Question 8

Small case procedures of the U.S.Tax Court requires that the amount in dispute not exceed

Accepted Answer

A)  $5,000.
B)  $10,000.
C)  $50,000.
D)  $100,000.E) C) and D)
F) A) and C)

Question 9

If the U.S.District Court for Rhode Island,the Tax Court,and the Eleventh Circuit have all ruled on a particular issue,then what precedents have been set for which courts in the future?

Accepted Answer

Any U.S.District court within the Eleven...

Question 10

The taxpayer need not pay the disputed tax in advance when the suit is initiated in

Accepted Answer

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

Question 11

Identify which of the following statements is false.

Accepted Answer

A)  The number "5" in the citation Reg.Sec.1.166-5 refers to the paragraph number.
B)  The Cumulative Bulletin is issued semiannually while the Internal Revenue Bulletin is issued weekly.
C)  The citation Rev.Rul.2006-5,I.R.B.2006-1,33,indicates that the revenue ruling can be found on page 33 of the 1st I.R.B.for 2006.
D)  All of the above are false.E) A) and B)
F) A) and D)

Question 12

Which tax service is usually deemed to be the most authoritative?

Accepted Answer

A)  United States Tax Reporter
B)  Standard Federal Tax Reporter
C)  Federal Tax Coordinator 2d
D)  All are equally authoritative.E) A) and B)
F) A) and C)

Question 13

If the U.S.Supreme Court decides to hear an appeal a tax case,it will grant a

Accepted Answer

A)  writ of appeal.
B)  writ of certiorari.
C)  writ of detainer.
D)  writ of habeas corpus.E) A) and C)
F) All of the above

Question 14

Statements on Standards for Tax Services are issued by

Accepted Answer

A)  the SEC.
B)  the IRS.
C)  the AICPA.
D)  the FASB.E) A) and B)
F) A) and C)

Question 15

Which of the following statements about the Statements on Standards for Tax Services is true?

Accepted Answer

A)  A CPA is never allowed to use a taxpayer's estimates when preparing a tax return.
B)  The CPA must tell the IRS upon becoming aware that an error has been made on a past tax return.
C)  The CPA may in good faith rely on information provided by the taxpayer,without verifying the reliability of that information if reasonable inquiries are made where the information furnished appears to be incorrect.
D)  The CPA should not recommend that a taxpayer take a certain position if there is any doubt as to whether the position would be approved by the IRS upon audit.E) B) and D)
F) All of the above

Question 16

The tax statutes with the popular name "The Internal Revenue Code of 1986" are contained in which Title of the Code?

Accepted Answer

A)  20
B)  25
C)  26
D)  301E) C) and D)
F) All of the above

Question 17

Appeals from the U.S.Tax Court are to the Court of Appeals for the Federal Circuit.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is secondary authority?

Accepted Answer

A)  Internal Revenue Code
B)  Treasury Regulations
C)  RIA and CCH tax services
D)  Revenue RulingE) A) and D)
F) A) and C)

Question 19

The acquiescence policy of the IRS extends to the

Accepted Answer

A)  U) S.Supreme Court decisions.
B)  U) S.Tax Court regular decisions.
C)  U) S.District Court decisions.
D)  both B and CE) All of the above
F) B) and C)

Question 20

You have the following citation: Joel Munro,92 T.C.71 (1989) .Which of the following statements is true?

Accepted Answer

A)  The taxpayer,Joel Munro,won the case because there is no reference to the IRS.
B)  The case appears on page 71 in Volume 92 of the official Tax Court of the United States Reports and the case was decided in 1989.
C)  This citation refers to a taxpayer conference between the IRS and the taxpayer.
D)  The case was tried in 1989 and was appealed in 1992.E) B) and C)
F) A) and D)

Exam 15: Tax Research

If the U.S.Supreme Court decides to hear an appeal a tax case,it will grant a

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The acquiescence policy of the IRS extends to the

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Identify which of the following statements is false.

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You have the following citation: Joel Munro,92 T.C.71 (1989) .Which of the following statements is true?

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Statements on Standards for Tax Services are issued by

Correct AnswerverifiedShow Answer

Which of the following is secondary authority?

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Assume that you want to read a description of a particular area of the law,along with one or more illustrations of how that law is applied.You will not find that type of material in

Correct AnswerverifiedShow Answer

What is the purpose of Treasury Regulations?

Correct AnswerverifiedThe Treasury Department issues regulatio...View AnswerShow Answer

The Tax Court departs from its general policy of ruling uniformly for all taxpayers where

Correct AnswerverifiedShow Answer

Which tax service is usually deemed to be the most authoritative?

Correct AnswerverifiedShow Answer

The taxpayer need not pay the disputed tax in advance when the suit is initiated in

Correct AnswerverifiedShow Answer

Your client wants to deduct commuting expenses on his tax return.You explain to the client that there is no legal authority allowing this deduction.The client,however,continues to insist on this action.What guidance do the Statements on Standards for Tax Services provide in this dilemma?

Correct AnswerverifiedAccording to Statement on Tax Standards,...View AnswerShow Answer

If the U.S.District Court for Rhode Island,the Tax Court,and the Eleventh Circuit have all ruled on a particular issue,then what precedents have been set for which courts in the future?

Correct AnswerverifiedAny U.S.District court within the Eleven...View AnswerShow Answer

A tax bill introduced in the House of Representatives is then

Correct AnswerverifiedShow Answer

Small case procedures of the U.S.Tax Court requires that the amount in dispute not exceed

Correct AnswerverifiedShow Answer

The tax statutes with the popular name "The Internal Revenue Code of 1986" are contained in which Title of the Code?

Correct AnswerverifiedShow Answer

Appeals from the U.S.Tax Court are to the Court of Appeals for the Federal Circuit.

Correct AnswerverifiedShow Answer

What is the difference between a taxpayer-requested letter ruling and a technical advice memorandum issued as a letter ruling?

Correct AnswerverifiedA taxpayer-requested letter ru...View AnswerShow Answer

When the Tax Court follows the opinion of the circuit court of appeals to which the case is appealable,the court is following the

Correct AnswerverifiedShow Answer

Which of the following statements about the Statements on Standards for Tax Services is true?

Correct AnswerverifiedShow Answer

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The Treasury Department issues regulatio...
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According to Statement on Tax Standards,...
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Any U.S.District court within the Eleven...
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Correct Answer
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Correct Answer
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A taxpayer-requested letter ru...
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