Question 1

Where must a tax researcher look to access all Tax Court cases?

Accepted Answer

The regular opinions are found in the Ta...

Question 2

In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.

Accepted Answer

The Tax Court,the U.S.Court of Federal C...

Question 3

Compare and contrast "interpretative" and "statutory" regulations.

Accepted Answer

Both types of regulations are issued by ...

Question 4

The Senate equivalent of the House Ways and Means Committee is the Senate

Accepted Answer

A)  Finance Committee.
B)  Ways and Means Committee.
C)  Tax Committee.
D)  Joint Conference Committee.E) C) and D)
F) A) and C)

Question 5

When the Tax Court follows the opinion of the circuit court of appeals to which the case is appealable,the court is following the

Accepted Answer

A)  Golsen rule.
B)  Acquiescence rule.
C)  Forum shopping rule.
D)  Conformity rule.E) None of the above
F) All of the above

Question 6

Which of the following is a true statement regarding primary authority of tax law?

Accepted Answer

A)  Articles in The Journal of Taxation are viewed as primary authority.
B)  Primary authority includes the Code,as well as administrative and judicial interpretations.
C)  The Bloomberg BNA Daily Tax Reporter is a source of primary tax authority.
D)  Tax services are sources of primary tax authority.E) B) and C)
F) B) and D)

Question 7

According to the AICPA's Statements on Standards for Tax Services,what duties does the tax practitioner owe the client?

Accepted Answer

The tax practitioner owes the client the...

Question 8

What is "forum-shopping"?

Accepted Answer

Forum-shopping involves choosing where a...

Question 9

Identify which of the following statements is false.

Accepted Answer

A)  The acquiescence policy was adopted by the U.S.Tax Court to permit litigating parties to agree on the exact amount of the tax due.
B)  Letter rulings are binding only with respect to the taxpayer requesting the ruling.
C)  The small cases procedure of the U.S.Tax Court allows a less formal hearing but provides for no appeal.
D)  The IRS may retroactively revoke an acquiescence.E) A) and B)
F) A) and C)

Question 10

Does Title 26 contain statutory provisions dealing only with income taxation? Explain.

Accepted Answer

No; Title 26 deals with all ta...

Question 11

The Tax Court decides an expenditure is deductible in the year the issue was first litigated.The government appealed and won a reversal in the Ninth Circuit Court of Appeals.It is the only appellate decision regarding the issue.If and when the Tax Court encounters this issue again,how will it hold?

Accepted Answer

The Tax Court will hold that t...

Question 12

What is the purpose of a citator?

Accepted Answer

Citators give a history of the...

Question 13

The acquiescence policy of the IRS extends to the

Accepted Answer

A)  U) S.Supreme Court decisions.
B)  U) S.Tax Court regular decisions.
C)  U) S.District Court decisions.
D)  both B and CE) A) and B)
F) None of the above

Question 14

The taxpayer need not pay the disputed tax in advance when the suit is initiated in

Accepted Answer

A)  U) S.Court of Federal Claims.
B)  U) S.Tax Court.
C)  U) S.District Court.
D)  both A and B.E) A) and D)
F) B) and D)

Question 15

Which regulation deals with the gift tax?

Accepted Answer

A)  Reg.Sec.1.165-5
B)  Reg.Sec.20.2014-5
C)  Reg.Sec.25.2518-5
D)  Reg.Sec.301.7002-5E) None of the above
F) B) and D)

Question 16

Which regulation deals with Code Section 165?

Accepted Answer

A)  Reg.Sec.1.165-5
B)  Reg.Sec.165.183-5
C)  Reg.Sec.1.5-165
D)  Reg.Sec.165-5E) A) and B)
F) None of the above

Question 17

When Congress passes a statute with language such as,"The Secretary shall prescribe such regulations as he may deem necessary," the regulations ultimately issued for that statute are

Accepted Answer

A)  congressional regulations.
B)  statutory regulations.
C)  interpretative regulations.
D)  legislative regulations.E) A) and B)
F) C) and D)

Question 18

Identify which of the following statements is true.

Accepted Answer

A)  If regulations are issued prior to the latest tax legislation dealing with a specific Code section,the regulations are no longer effective to the extent they conflict with the provisions in the new legislation.
B)  Legislative regulations are more likely to be invalidated by the courts than are interpretative regulations.
C)  Regulations have more authoritative weight than tax statues.
D)  All of the above are false.E) A) and B)
F) C) and D)

Question 19

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari.The Supreme Court decides whether or not they will hear the case.

Accepted Answer

A) True 
 B)False

Question 20

Identify which of the following statements is true.

Accepted Answer

A)  Tax planning is an integral part of both closed-fact situations and open-fact situations.
B)  The first step in conducting tax research is to clearly understand the issues involved.
C)  The Statements on Standards for Tax Services recommend that only written tax advice be provided to the client in all situations.
D)  All of the above are false.E) A) and B)
F) None of the above

Exam 1: Tax Research

Which regulation deals with Code Section 165?

Correct AnswerverifiedShow Answer

According to the AICPA's Statements on Standards for Tax Services,what duties does the tax practitioner owe the client?

Correct AnswerverifiedThe tax practitioner owes the client the...View AnswerShow Answer

When Congress passes a statute with language such as,"The Secretary shall prescribe such regulations as he may deem necessary," the regulations ultimately issued for that statute are

Correct AnswerverifiedShow Answer

Appeals from the Court of Appeals go to the Supreme Court under a writ of certiorari.The Supreme Court decides whether or not they will hear the case.

Correct AnswerverifiedShow Answer

The taxpayer need not pay the disputed tax in advance when the suit is initiated in

Correct AnswerverifiedShow Answer

When the Tax Court follows the opinion of the circuit court of appeals to which the case is appealable,the court is following the

Correct AnswerverifiedShow Answer

Identify which of the following statements is true.

Correct AnswerverifiedShow Answer

Compare and contrast "interpretative" and "statutory" regulations.

Correct AnswerverifiedBoth types of regulations are issued by ...View AnswerShow Answer

In which courts may litigation dealing with tax matters begin? Discuss the factors that might be considered in deciding where to begin litigation.

Correct AnswerverifiedThe Tax Court,the U.S.Court of Federal C...View AnswerShow Answer

Which of the following is a true statement regarding primary authority of tax law?

Correct AnswerverifiedShow Answer

The Tax Court decides an expenditure is deductible in the year the issue was first litigated.The government appealed and won a reversal in the Ninth Circuit Court of Appeals.It is the only appellate decision regarding the issue.If and when the Tax Court encounters this issue again,how will it hold?

Correct AnswerverifiedThe Tax Court will hold that t...View AnswerShow Answer

What is "forum-shopping"?

Correct AnswerverifiedForum-shopping involves choosing where a...View AnswerShow Answer

Identify which of the following statements is false.

Correct AnswerverifiedShow Answer

Identify which of the following statements is true.

Correct AnswerverifiedShow Answer

Where must a tax researcher look to access all Tax Court cases?

Correct AnswerverifiedThe regular opinions are found in the Ta...View AnswerShow Answer

The Senate equivalent of the House Ways and Means Committee is the Senate

Correct AnswerverifiedShow Answer

The acquiescence policy of the IRS extends to the

Correct AnswerverifiedShow Answer

Does Title 26 contain statutory provisions dealing only with income taxation? Explain.

Correct AnswerverifiedNo; Title 26 deals with all ta...View AnswerShow Answer

What is the purpose of a citator?

Correct AnswerverifiedCitators give a history of the...View AnswerShow Answer

Which regulation deals with the gift tax?

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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The tax practitioner owes the client the...
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Both types of regulations are issued by ...
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Correct Answer
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The Tax Court,the U.S.Court of Federal C...
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Correct Answer
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Correct Answer
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The Tax Court will hold that t...
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Correct Answer
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Forum-shopping involves choosing where a...
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Correct Answer
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Correct Answer
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Correct Answer
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The regular opinions are found in the Ta...
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Correct Answer
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Correct Answer
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No; Title 26 deals with all ta...
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Correct Answer
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Citators give a history of the...
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Correct Answer
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