Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

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

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

Question 5

The following citation could be a correct citation: Rev. Rul. 95-271,1995-64 I.R.B. 18.

Accepted Answer

A) True 
 B)False

Question 6

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

The first codification of the tax law occurred in 1954.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

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

Question 11

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) A) and B)

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 C)
G) All of the above

Question 13

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 ...

Question 14

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

Question 15

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 16

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 17

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 18

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 the above are correct.F) A) and C)
G) C) and D)

Question 19

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

Question 20

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 D)
G) A) and C)

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Tax planning usually involves a completed transaction.

Correct AnswerverifiedShow Answer

Which company does not publish citators for tax purposes?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following statements about a nonacquiescence is correct?

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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The first codification of the tax law occurred in 1954.

Correct AnswerverifiedShow Answer

Which Regulations have the force and effect of law?

Correct AnswerverifiedShow Answer

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

The following citation could be a correct citation: Rev. Rul. 95-271,1995-64 I.R.B. 18.

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

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 ...View AnswerShow Answer

The IRS will not acquiesce to the following tax decisions:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which is presently not a major tax service?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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The U.S. Tax Court hears only tax cases ...
View Answer

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