Question 1

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 2

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

Accepted Answer

A) True 
 B)False

Question 3

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 4

Which company does not publish citators for tax purposes?

Accepted Answer

A)   John Wiley & Sons
B)   Commerce Clearing House
C)   Thomson Reuters (RI
A)  
D)   Westlaw
E)   Shepard'sF) B) and D)
G) All of the above

Question 5

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) A) and E)
G) A) and D)

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

There are 11 geographic U.S. Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 8

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

Accepted Answer

A) True 
 B)False

Question 9

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Accepted Answer

A) True 
 B)False

Question 10

A Bluebook is substantial authority for purposes of the accuracy related penalty.

Accepted Answer

A) True 
 B)False

Question 11

Which tax-related website probably gives the best policy-orientation results?

Accepted Answer

A)   taxalmanac.org.
B)   irs.gov.
C)   taxsites.com.
D)   taxanalysts.com.
E)   ustaxcourt.gov.F) A) and E)
G) All of the above

Question 12

Technical Advice Memoranda may not be cited as precedents by taxpayers.

Accepted Answer

A) True 
 B)False

Question 13

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

Question 14

In general, Regulations are issued immediately after a statute is enacted.

Accepted Answer

A) True 
 B)False

Question 15

The petitioner refers to the party against whom a suit is brought.

Accepted Answer

A) True 
 B)False

Question 16

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) C) and E)
G) B) and E)

Question 17

Tax research involves which of the following procedures:

Accepted Answer

A)   Identifying and refining the problem.
B)   Locating the appropriate tax law sources.
C)   Assessing the validity of the tax law sources.
D)   Follow-up.
E)   All of these.F) C) and D)
G) A) and E)

Question 18

When searching on an electronic (online)  tax service, which approach is more frequently used?

Accepted Answer

A)   Internal Revenue Code section approach
B)   Keyword approach
C)   Table of contents approach
D)   Index
E)   All are about the sameF) C) and D)
G) B) and E)

Question 19

Before a tax bill can become law, it must be approved (signed) by the President of the United States.

Accepted Answer

A) True 
 B)False

Question 20

The Golsen rule has been overturned by the U.S. Supreme Court.

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

In a U.S. District Court, a jury can decide both questions of fact and questions of law.

Correct AnswerverifiedShow Answer

Before a tax bill can become law, it must be approved (signed) by the President of the United States.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which tax-related website probably gives the best policy-orientation results?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A Bluebook is substantial authority for purposes of the accuracy related penalty.

Correct AnswerverifiedShow Answer

Technical Advice Memoranda may not be cited as precedents by taxpayers.

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 AnswerverifiedShow Answer

The Golsen rule has been overturned by the U.S. Supreme Court.

Correct AnswerverifiedShow Answer

In general, Regulations are issued immediately after a statute is enacted.

Correct AnswerverifiedShow Answer

Which company does not publish citators for tax purposes?

Correct AnswerverifiedShow Answer

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Correct AnswerverifiedShow Answer

The Index to Federal Tax Articles (published by Thomson Reuters) is available electronically.

Correct AnswerverifiedShow Answer

When searching on an electronic (online) tax service, which approach is more frequently used?

Correct AnswerverifiedShow Answer

There are 11 geographic U.S. Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

Tax planning usually involves a completed transaction.

Correct AnswerverifiedShow Answer

Tax research involves which of the following procedures:

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

The petitioner refers to the party against whom a suit is brought.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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