Question 1

Which item may not be cited as a precedent?

Accepted Answer

A)  Regulations
B)  Temporary Regulations
C)  Technical Advice Memoranda
D)  U.S.District Court decision
E)  None of theseF) B) and E)
G) C) and D)

Question 2

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Accepted Answer

A) True 
 B)False

Question 3

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

Accepted Answer

There is no appeal from the Small Cases ...

Question 4

The Regulation section of the CPA exam is approximately 60% Taxation and 40% Law & Professional Responsibilities.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

Congressional Committee Reports often ex...

Question 6

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

Question 7

The Code section citation is incorrect: § 212(1).

Accepted Answer

A) True 
 B)False

Question 8

Which court decision would probably carry more weight?

Accepted Answer

A)  Regular U.S.Tax Court decision
B)  Reviewed U.S.Tax Court decision
C)  U.S.District Court decision
D)  Tax Court Memorandum decision
E)  U.S.Court of Federal ClaimsF) A) and D)
G) C) and D)

Question 9

Which of the following indicates that a decision has precedential value for future cases?

Accepted Answer

A)  Stare decisis
B)  Golsen doctrine
C)  En banc
D)  Reenactment doctrine
E)  None of theseF) A) and D)
G) C) and D)

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

Which of the following court decisions carries more weight?

Accepted Answer

A)  Federal District Court
B)  Second Circuit Court of Appeals
C)  U.S.Tax Court decision
D)  Small Cases Division of U.S.Tax Court
E)  U.S.Court of Federal ClaimsF) A) and E)
G) B) and E)

Question 12

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Accepted Answer

A) True 
 B)False

Question 13

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 14

Which publisher offers the Standard Federal Tax Reporter?

Accepted Answer

A)  Research Institute of America
B)  Commerce Clearing House
C)  Thomson Reuters
D)  LexisNexis
E)  None of theseF) A) and E)
G) All of the above

Question 15

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

Question 16

Which statement is not true with respect to a Regulation that interprets the tax law?

Accepted Answer

A)  Issued by the U.S.Congress.
B)  Issued by the U.S.Treasury Department.
C)  Designed to provide an interpretation of the tax law.
D)  Carries more legal force than a Revenue Ruling.
E)  All of these statements are true.F) A) and B)
G) C) and D)

Question 17

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 D)
G) D) and E)

Question 18

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 19

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

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

Which of the following court decisions carries more weight?

Correct AnswerverifiedShow Answer

Which Regulations have the force and effect of law?

Correct AnswerverifiedShow Answer

The Code section citation is incorrect: § 212(1).

Correct AnswerverifiedShow Answer

Rules of tax law do not include Revenue Rulings and Revenue Procedures.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which publisher offers the Standard Federal Tax Reporter?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following indicates that a decision has precedential value for future cases?

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

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

Correct AnswerverifiedShow Answer

A taxpayer may not appeal a case from which court:

Correct AnswerverifiedShow Answer

Discuss the advantages and disadvantages of the Small Cases Division of the U.S.Tax Court.

Correct AnswerverifiedThere is no appeal from the Small Cases ...View AnswerShow Answer

Which item may not be cited as a precedent?

Correct AnswerverifiedShow Answer

A tax professional need not worry about the relative weight of authority within the various tax law sources.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Regulation section of the CPA exam is approximately 60% Taxation and 40% Law & Professional Responsibilities.

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

Which statement is not true with respect to a Regulation that interprets the tax law?

Correct AnswerverifiedShow Answer

Which court decision would probably carry more weight?

Correct AnswerverifiedShow Answer

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Congressional Committee Reports often ex...
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There is no appeal from the Small Cases ...
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