Question 1

Which of the following statements about a nonacquiescence is correct?

Accepted Answer

A)  A nonacquiescence is issued in the Federal Registrar.
B)  Nonacquiescences are published only for certain regular decisions of the U.S.Tax Court.
C)  A nonacquiescence in published in the Internal Revenue Bulletin.
D)  The IRS does not issue nonacquiescences to adverse decisions that are not appealed.
E)  All of these are correct.F) B) and E)
G) A) and E)

Question 2

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

Accepted Answer

The U.S.Tax Court hears only tax cases a...

Question 3

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme...

Question 4

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 5

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

Accepted Answer

A) True 
 B)False

Question 6

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

Question 7

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

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

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

Which publisher offers the United States Tax Reporter?

Accepted Answer

A)  Research Institute of America (Thomson Reuters) 
B)  Commerce Clearing House
C)  LexisNexis
D)  Tax Analysts
E)  None of theseF) C) and E)
G) A) and D)

Question 12

A U.S.District Court is considered the lowest trial court.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

The term petitioner is a synonym for defendant.

Accepted Answer

A) True 
 B)False

Question 16

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 17

How do treaties fit within tax sources?

Accepted Answer

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

Question 18

Which is presently not a major tax service?

Accepted Answer

A)  Standard Federal Tax Reporter
B)  Federal Taxes
C)  United States Tax Reporter
D)  Tax Management Portfolios
E)  All of these are major tax servicesF) A) and E)
G) D) and E)

Question 19

The U.S.Tax Court meets most often in Washington, D.C.

Accepted Answer

A) True 
 B)False

Question 20

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

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

Tax research involves which of the following procedures:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements about a nonacquiescence is correct?

Correct AnswerverifiedShow Answer

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

Correct AnswerverifiedThe U.S.Tax Court hears only tax cases a...View AnswerShow Answer

Which publisher offers the United States Tax Reporter?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

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

Technical Advice Memoranda deal with completed transactions.

Correct AnswerverifiedShow Answer

Compare Revenue Rulings with Revenue Procedures.

Correct AnswerverifiedRevenue Rulings are official pronounceme...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

The term petitioner is a synonym for defendant.

Correct AnswerverifiedShow Answer

Which is presently not a major tax service?

Correct AnswerverifiedShow Answer

The U.S.Tax Court meets most often in Washington, D.C.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

How do treaties fit within tax sources?

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

A U.S.District Court is considered the lowest trial court.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Tax planning usually involves a completed transaction.

Correct AnswerverifiedShow Answer

Correct Answer
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The U.S.Tax Court hears only tax cases a...
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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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Revenue Rulings are official pronounceme...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

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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