Question 1

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 these statements are true.F) B) and E)
G) B) and D)

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

A Bluebook opinion is substantial authority for purposes of the accuracy related penalty.

Accepted Answer

A) True 
 B)False

Question 4

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 B)
G) A) and E)

Question 5

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

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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

Question 9

There is a direct conflict between a Code section adopted in 2008 and a treaty with France (signed in 2012). The Code section controls.

Accepted Answer

A) True 
 B)False

Question 10

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 11

Determination letters usually involve finalized transactions.

Accepted Answer

A) True 
 B)False

Question 12

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 C)

Question 13

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

Accepted Answer

A) True 
 B)False

Question 14

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 15

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Question 16

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 17

In addressing the importance of a Regulation, an IRS agent must:

Accepted Answer

A)  Give equal weight to the Code and the Regulations.
B)  Give more weight to the Code rather than to a Regulation.
C)  Give more weight to the Regulation rather than to the Code.
D)  Give less weight to the Code rather than to a Regulation.
E)  None of these.F) B) and E)
G) A) and B)

Question 18

A U.S. District Court is the lowest trial court.

Accepted Answer

A) True 
 B)False

Question 19

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 20

Compare Revenue Rulings with Revenue Procedures.

Accepted Answer

Revenue Rulings are official pronounceme...

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

What statement is not true with respect to Temporary Regulations?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A U.S. District Court is the lowest trial court.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Determination letters usually involve finalized transactions.

Correct AnswerverifiedShow Answer

Compare Revenue Rulings with Revenue Procedures.

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

Which is presently not a major tax service?

Correct AnswerverifiedShow Answer

Which court decision would probably carry more weight?

Correct AnswerverifiedShow Answer

Technical Advice Memoranda deal with completed transactions.

Correct AnswerverifiedShow Answer

A Bluebook opinion is substantial authority for purposes of the accuracy related penalty.

Correct AnswerverifiedShow Answer

The IRS issues an acquiescence or nonacquiescence only for regular Tax Court decisions.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In addressing the importance of a Regulation, an IRS agent must:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Tax planning usually involves a completed transaction.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

There is a direct conflict between a Code section adopted in 2008 and a treaty with France (signed in 2012). The Code section controls.

Correct AnswerverifiedShow Answer

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Revenue Rulings are official pronounceme...
View Answer

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