Question 1

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

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

How can Congressional Committee Reports be used by a tax researcher?

Accepted Answer

Congressional Committee Reports often ex...

Question 4

Tax bills are handled by which committee in the U.S.House of Representatives?

Accepted Answer

A)  Taxation Committee
B)  Ways and Means Committee
C)  Finance Committee
D)  Budget Committee
E)  None of theseF) All of the above
G) A) and C)

Question 5

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

Question 6

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

Accepted Answer

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

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

A taxpayer who loses in a U.S.District Court may appeal directly to the:

Accepted Answer

A)  U.S.Supreme Court.
B)  U.S.Tax Court.
C)  U.S.Court of Federal Claims.
D)  U.S.Circuit Court of Appeals.
E)  All of these.F) C) and D)
G) B) and C)

Question 10

Which of these is not a correct citation to the Internal Revenue Code?

Accepted Answer

A)  Section 211
B)  Section 1222(1) 
C)  Section 2(a) (1) (
A)  
D)  Section 280B
E)  All of these are correct cites.F) None of the above
G) A) and B)

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

Three judges will normally hear each U.S.Tax Court case.

Accepted Answer

A) True 
 B)False

Question 13

How do treaties fit within tax sources?

Accepted Answer

The U.S signs certain tax treaties (some...

Question 14

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 15

Temporary Regulations are only published in the Internal Revenue Bulletin.

Accepted Answer

A) True 
 B)False

Question 16

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 17

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

Question 18

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

Question 19

Which statement is incorrect with respect to taxation on the CPA exam?

Accepted Answer

A)  The CPA exam now has only four parts.
B)  There are no longer task-based simulations on the exam.
C)  A candidate may not go back after exiting a testlet.
D)  Simulations include a four-function pop-up calculator.
E)  None of these are incorrect.F) A) and B)
G) B) and E)

Question 20

The IRS is not required to make a letter ruling public.

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

How do treaties fit within tax sources?

Correct AnswerverifiedThe U.S signs certain tax treaties (some...View AnswerShow Answer

The IRS is not required to make a letter ruling public.

Correct AnswerverifiedShow Answer

Subchapter D refers to the "Corporate Distributions and Adjustments" section of the Internal Revenue Code.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which statement is incorrect with respect to taxation on the CPA exam?

Correct AnswerverifiedShow Answer

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

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 AnswerverifiedShow Answer

A taxpayer who loses in a U.S.District Court may appeal directly to the:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Three judges will normally hear each U.S.Tax Court case.

Correct AnswerverifiedShow Answer

How can Congressional Committee Reports be used by a tax researcher?

Correct AnswerverifiedCongressional Committee Reports often ex...View AnswerShow Answer

The IRS will not acquiesce to the following tax decisions:

Correct AnswerverifiedShow Answer

A taxpayer may not appeal a case from which court:

Correct AnswerverifiedShow Answer

Which of these is not a correct citation to the Internal Revenue Code?

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

Tax bills are handled by which committee in the U.S.House of Representatives?

Correct AnswerverifiedShow Answer

Temporary Regulations are only published in the Internal Revenue Bulletin.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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The U.S signs certain tax treaties (some...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Congressional Committee Reports often ex...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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