Question 1

Revenue Rulings carry the same legal force and effect as Regulations.

Accepted Answer

A) True 
 B)False

Question 2

The Internet provides a wealth of tax information in several popular forms,sometimes at no direct cost to the researcher.

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

Proposed Regulations are not published in the Federal Register.

Accepted Answer

A) True 
 B)False

Question 5

The Internal Revenue Code was codified in which of the following years?

Accepted Answer

A)  1913.
B)  1933.
C)  1954.
D)  1957.
E)  None of the above.F) A) and B)
G) A) and C)

Question 6

A Revenue Procedure is an administrative source of Federal tax law.

Accepted Answer

A) True 
 B)False

Question 7

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.

Accepted Answer

A) True 
 B)False

Question 8

A taxpayer can obtain a jury trial in a U.S.Court of Federal Claims.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following sources has the highest tax validity?

Accepted Answer

A)  Revenue Ruling.
B)  Letter ruling.
C)  Regulations.
D)  Internal Revenue Code section.
E)  None of the above.F) C) and D)
G) B) and E)

Question 10

Temporary Regulations have the same authoritative value as Finalized Regulations.

Accepted Answer

A) True 
 B)False

Question 11

The granting of a Writ of Certiorari indicates that at least five members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.

Accepted Answer

A) True 
 B)False

Question 12

What statement is not true with respect to a regulation which 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 the above statements are true.F) A) and B)
G) All of the above

Question 13

Determination letters usually involve proposed transactions.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Which committee reconciles the tax bills between the Senate and the House?

Accepted Answer

A)  Joint Committee on Taxation.
B)  Joint Conference Committee.
C)  Joint Reconciliation Committee.
D)  Joint Resolving Committee.
E)  None of the above.F) C) and E)
G) A) and E)

Question 16

Which trial court's jurisdiction depends on the geographical location of the taxpayer?

Accepted Answer

A)  U.S.Tax Court.
B)  U.S.District Court.
C)  U.S.Court of Federal Claims.
D)  Small Cases Division of the Tax Court.
E)  None of the above.F) All of the above
G) A) and D)

Question 17

What statement is not true with respect to Temporary Regulations?

Accepted Answer

A)  May not be cited as precedent.
B)  Issued as Proposed Regulations.
C)  Automatically expire within three years after the date of issuance.
D)  Found in the Federal Register.
E)  All of the above statements are true.F) C) and D)
G) B) and C)

Question 18

The major tax services are not available in electronic format.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following types of Regulations has the highest tax validity?

Accepted Answer

A)  Temporary.
B)  Legislative.
C)  Interpretative.
D)  Procedural.
E)  None of the above.F) A) and D)
G) B) and D)

Question 20

How can congressional committee reports be used by a tax researcher?

Accepted Answer

Congressional committee reports often ex...

Exam 2: Working With the Tax Law

What statement is not true with respect to a regulation which interprets the tax law?

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.

Correct AnswerverifiedShow Answer

A taxpayer can obtain a jury trial in a U.S.Court of Federal Claims.

Correct AnswerverifiedShow Answer

Temporary Regulations have the same authoritative value as Finalized Regulations.

Correct AnswerverifiedShow Answer

The Internet provides a wealth of tax information in several popular forms,sometimes at no direct cost to the researcher.

Correct AnswerverifiedShow Answer

Which of the following types of Regulations has the highest tax validity?

Correct AnswerverifiedShow Answer

What statement is not true with respect to Temporary Regulations?

Correct AnswerverifiedShow Answer

Which trial court's jurisdiction depends on the geographical location of the taxpayer?

Correct AnswerverifiedShow Answer

Proposed Regulations are not published in the Federal Register.

Correct AnswerverifiedShow Answer

How can congressional committee reports be used by a tax researcher?

Correct AnswerverifiedCongressional committee reports often ex...View AnswerShow 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

Revenue Rulings carry the same legal force and effect as Regulations.

Correct AnswerverifiedShow Answer

The major tax services are not available in electronic format.

Correct AnswerverifiedShow Answer

Which committee reconciles the tax bills between the Senate and the House?

Correct AnswerverifiedShow Answer

The Internal Revenue Code was codified in which of the following years?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Determination letters usually involve proposed transactions.

Correct AnswerverifiedShow Answer

The granting of a Writ of Certiorari indicates that at least five members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.

Correct AnswerverifiedShow Answer

A Revenue Procedure is an administrative source of Federal tax law.

Correct AnswerverifiedShow Answer

Which of the following sources has the highest tax validity?

Correct AnswerverifiedShow Answer

Correct Answer
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Congressional committee reports often ex...
View Answer

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There is no appeal from the Small Cases ...
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