Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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 3

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

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

Tax planning usually involves a completed transaction.

Accepted Answer

A) True 
 B)False

Question 6

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) B) and E)
G) None of the above

Question 7

The U.S.Tax Court meets most often in Washington, D.C.

Accepted Answer

A) True 
 B)False

Question 8

What statement is not true with respect to Temporary Regulations?

Accepted Answer

A)  May not be cited as precedent.
B)  Issued with 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) A) and B)
G) All of the above

Question 9

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 10

This Internal Revenue Code section citation is incorrect: § 212(1).

Accepted Answer

A) True 
 B)False

Question 11

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

Accepted Answer

The U.S.Tax Court hears only tax cases a...

Question 12

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Accepted Answer

A) True 
 B)False

Question 13

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Tax research involves which of the following procedures:

Accepted Answer

A)  Identifying and refining the problem.
B)  Locating the appropriate tax law sources.
C)  Assessing the validity of the tax law sources.
D)  Follow-up.
E)  All of these.F) B) and C)
G) A) and B)

Question 16

What administrative release deals with a proposed transaction rather than a completed transaction?

Accepted Answer

A)  Letter Ruling
B)  Technical Advice Memorandum
C)  Determination Letter
D)  Field Service Advice
E)  None of theseF) A) and E)
G) B) and D)

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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) A) and C)

Question 19

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) B) and E)
G) B) and D)

Question 20

When searching on an electronic (online)  tax service, which approach is more frequently used?

Accepted Answer

A)  Internal Revenue Code section approach
B)  Keyword approach
C)  Table of contents approach
D)  Index
E)  All are about the sameF) A) and E)
G) D) and E)

Exam 2: Working With the Tax Law

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Texas is in the jurisdiction of the Second Circuit Court of Appeals.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What statement is not true with respect to Temporary Regulations?

Correct AnswerverifiedShow Answer

When searching on an electronic (online) tax service, which approach is more frequently used?

Correct AnswerverifiedShow Answer

What administrative release deals with a proposed transaction rather than a completed transaction?

Correct AnswerverifiedShow Answer

Tax research involves which of the following procedures:

Correct AnswerverifiedShow Answer

Which is presently not a major tax service?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

This Internal Revenue Code section citation is incorrect: § 212(1).

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Distinguish between the jurisdiction of the U.S.Tax Court and a U.S.District Court.

Correct AnswerverifiedThe U.S.Tax Court hears only tax cases a...View AnswerShow Answer

The Regulation section of the CPA exam is approximately 80% Taxation and 20% Law & Professional Responsibilities.

Correct AnswerverifiedShow Answer

The U.S.Tax Court meets most often in Washington, D.C.

Correct AnswerverifiedShow Answer

Tax planning usually involves a completed transaction.

Correct AnswerverifiedShow Answer

Correct Answer
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The U.S.Tax Court hears only tax cases a...
View Answer

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Correct Answer
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Correct Answer
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