Question 1

In recent years,Congress has been relatively successful in simplifying the Internal Revenue Code.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme...

Question 4

The following citation is correct: Larry G.Mitchell,131 T.C.215 (2008).

Accepted Answer

A) True 
 B)False

Question 5

Determination letters usually involve finalized transactions.

Accepted Answer

A) True 
 B)False

Question 6

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 case studies 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) A) and C)
G) A) and D)

Question 7

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 8

Which publisher offers the United States Tax Reporter?

Accepted Answer

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

Question 9

There are 11 geographic U.S.Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 10

Deferring income to a subsequent year is considered to be tax avoidance.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

Congressional Committee Reports often ex...

Question 12

What are Treasury Department Regulations?

Accepted Answer

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

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

The Index to Federal Tax Articles (published by Warren,Gorham,and Lamont)is available in print and electronic formats.

Accepted Answer

A) True 
 B)False

Question 15

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

Question 16

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Accepted Answer

A) True 
 B)False

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

A taxpayer who loses in a U.S.District Court may appeal directly to the:

Accepted Answer

A)   U.S.Supreme Court.
B)   U.S.Tax Court.
C)   U.S.Court of Federal Claims.
D)   U.S.Circuit Court of Appeals.
E)   All of these.F) A) and E)
G) B) and D)

Question 19

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A letter ruling applies only to the taxpayer who asks for and obtains a letter ruling.

Correct AnswerverifiedShow Answer

A taxpayer who loses in a U.S.District Court may appeal directly to the:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Deferring income to a subsequent year is considered to be tax avoidance.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Revenue Procedures deal with the internal management practices and procedures of the IRS.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Index to Federal Tax Articles (published by Warren,Gorham,and Lamont)is available in print and electronic formats.

Correct AnswerverifiedShow Answer

Compare Revenue Rulings with Revenue Procedures.

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

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

Correct AnswerverifiedShow Answer

Determination letters usually involve finalized transactions.

Correct AnswerverifiedShow Answer

In recent years,Congress has been relatively successful in simplifying the Internal Revenue Code.

Correct AnswerverifiedShow Answer

Which publisher offers the United States Tax Reporter?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedCongressional Committee Reports often ex...View AnswerShow Answer

The following citation is correct: Larry G.Mitchell,131 T.C.215 (2008).

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What are Treasury Department Regulations?

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

There are 11 geographic U.S.Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

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Revenue Rulings are official pronounceme...
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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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Congressional Committee Reports often ex...
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Correct Answer
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Correct Answer
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Correct Answer
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Regulations are issued by the U.S.Treasu...
View Answer

Correct Answer
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