Question 1

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 E)
G) A) and D)

Question 2

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 3

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

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

A researcher can find tax information on home page sites of:

Accepted Answer

A)  Governmental bodies.
B)  Tax academics.
C)  Publishers.
D)  CPA firms.
E)  All of these.F) B) and E)
G) C) and D)

Question 6

What are Treasury Department Regulations?

Accepted Answer

Regulations are issued by the U.S.Treasu...

Question 7

The primary purpose of effective tax planning is to reduce or defer the tax in the current tax year.

Accepted Answer

A) True 
 B)False

Question 8

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

Question 9

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 E)
G) D) and E)

Question 10

The term "petitioner" is a synonym for "defendant."

Accepted Answer

A) True 
 B)False

Question 11

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 12

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 B)
G) C) and D)

Question 13

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

Question 14

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

Accepted Answer

A) True 
 B)False

Question 15

How do treaties fit within tax sources?

Accepted Answer

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

Question 16

In § 212(1) ,the number (1)  stands for the:

Accepted Answer

A)  Section number.
B)  Subsection number.
C)  Paragraph designation.
D)  Subparagraph designation.
E)  None of these.F) A) and C)
G) A) and E)

Question 17

Electronic (online) databases are most frequently searched by the keyword approach.

Accepted Answer

A) True 
 B)False  True

Question 18

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

Accepted Answer

A) True 
 B)False  False

Question 19

Which items tell taxpayers the IRS's reaction to certain court decisions?

Accepted Answer

A)  Notices
B)  Revenue Procedures
C)  Revenue Rulings
D)  Actions on Decisions
E)  Legislative RegulationsF) A) and B)
G) B) and D)

Question 20

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  True

Exam 2: Working With the Tax Law

Which court decision would probably carry more weight?

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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A researcher can find tax information on home page sites of:

Correct AnswerverifiedShow Answer

What are Treasury Department Regulations?

Correct AnswerverifiedRegulations are issued by the U.S.Treasu...View AnswerShow Answer

The primary purpose of effective tax planning is to reduce or defer the tax in the current tax year.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The term "petitioner" is a synonym for "defendant."

Correct AnswerverifiedShow Answer

Tax planning usually involves a completed transaction.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The IRS will not acquiesce to the following tax decisions:

Correct AnswerverifiedShow Answer

The test for whether a child qualifies for dependency status is first conducted under the qualified child requirement.

Correct AnswerverifiedShow Answer

How do treaties fit within tax sources?

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

In § 212(1) ,the number (1) stands for the:

Correct AnswerverifiedShow Answer

Electronic (online) databases are most frequently searched by the keyword approach.

Correct AnswerverifiedTrue

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

Correct AnswerverifiedFalse

Which items tell taxpayers the IRS's reaction to certain court decisions?

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 AnswerverifiedTrue

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Regulations are issued by the U.S.Treasu...
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The U.S signs certain tax treaties (some...
View Answer

Correct Answer
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True

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False

Correct Answer
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True