Question 1

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

Accepted Answer

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

Question 2

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

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

A taxpayer should always minimize his or her tax liability.

Accepted Answer

A) True 
 B)False

Question 5

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

Question 6

What is a Technical Advice Memorandum?

Accepted Answer

The National Office of the IRS releases ...

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

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

Accepted Answer

A) True 
 B)False

Question 9

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 10

Which of these is not a correct citation to the Internal Revenue Code?

Accepted Answer

A)  Section 211
B)  Section 1222(1) 
C)  Section 2(a) (1) (
A)  
D)  Section 280B
E)  All of these are correct cites.F) C) and D)
G) B) and E)

Question 11

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 12

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

Accepted Answer

A)  Temporary
B)  Legislative
C)  Interpretive
D)  Procedural
E)  None of theseF) C) and D)
G) B) and D)

Question 13

Technical Advice Memoranda deal with completed transactions.

Accepted Answer

A) True 
 B)False

Question 14

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 D)
G) A) and D)

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

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

Accepted Answer

A) True 
 B)False

Question 17

How do treaties fit within tax sources?

Accepted Answer

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

Question 18

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) None of the above
G) A) and C)

Question 19

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 20

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

Accepted Answer

A) True 
 B)False

Exam 2: Working With the Tax Law

How do treaties fit within tax sources?

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

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

Correct AnswerverifiedShow Answer

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

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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A taxpayer should always minimize his or her tax liability.

Correct AnswerverifiedShow Answer

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

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

Which of these is not a correct citation to the Internal Revenue Code?

Correct AnswerverifiedShow Answer

What statement is not true with respect to Temporary Regulations?

Correct AnswerverifiedShow Answer

Technical Advice Memoranda deal with completed transactions.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What is a Technical Advice Memorandum?

Correct AnswerverifiedThe National Office of the IRS releases ...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

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

Correct Answer
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The U.S signs certain tax treaties (some...
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The National Office of the IRS releases ...
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