Individual Income Taxes Test

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The following citation cannot be correct: James E. Wiese, T.C. Summary Opinion, 2005-91. Answer:
True False 
Correct.

The citation is correct.  REF:    p. 2-18
Correct

Probably the best combination of electronic tax resources is to conduct day-to-day work on online access systems augmented with CD searches where it is judged critical to do so. Choose one answer.

| a. True| |
| b. False | Correct.|

Just the opposite is the case. p. 2-24
Correct
Marks for this submission: 1/1.

The Internal Revenue Code was first codified in 1954.
Choose one answer.
| a. True| |
| b. False | Correct.|

The first codified version was the Internal Revenue Code of 1939. The next recodification was in 1954. p. 2-2 Correct
Marks for this submission: 1/1.

Regular decisions of the Tax Court generally involve novel issues previously resolved by the U.S. Tax Court. Choose one answer.
| a. True| |
| b. False | Correct.|

Note, however, sometimes the issues in a Regular decision of the Tax Court are not novel. p. 2-17 Correct

The computer-based CPA examination has four sections with true-false, multiple-choice, and case studies (called simulations). Answer:
True False 
Correct.

No true-false questions appear on the CPA exam.  REF:    p. 2-38 Correct

A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S. District Court. Answer:
True False 
Correct.

Only in the Tax Court can jurisdiction be obtained without first paying the assessed tax deficiency.  REF:   Concept Summary 2.1 Correct
Temporary Regulations are published in The Federal Register. Answer:
True False 
Correct.

Proposed, Temporary and final Regulations are published in the Federal Register, in the Internal Revenue Bulletin, and by major tax services.  REF:    p. 2-8 Correct

Subchapter K of the Internal Revenue Code covers what topic? Choose one answer.
| a. Penalty taxes.| |
| b. S Corporations.| |
| c. Excise taxes.| |
| d. Partners and Partnerships. | Correct.|
| e. None of these topics.| |

Subchapter K covers Partners and Partnerships. p. 2-6
Correct

In assessing the importance of a regulation, an IRS agent must: Choose one answer.
| a. Give equal weight to the Code and regulations. | Correct.| | 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 the other answers are correct.| |

REF: pp. 2-8, 2-9, and 2-28
Correct
Marks for this submission: 1/1.

Which trial court’s jurisdiction depends on the geographical location of the taxpayer? Choose one answer.
| a. U.S. Tax Court.| |
| b. U.S. District Court. | Correct.|
| c. U.S. Court of Federal Claims.| |
| d. Small Cases Division of the Tax Court.| |
| e. U.S. Supreme Court| |

REF: p. 2-12   Concept Summary 2.1
Correct
Marks for this submission: 1/1.

Which statement is not true with respect to the U.S. Tax Court? Choose one answer.
| a. There are 16 judges. | Correct.|
| b. They issue both Regular and Memorandum decisions.| | | c. The IRS may acquiesce to its decision.| |
| d. A taxpayer does not have to pay the deficiency before litigating in this court.| | | e. None of the above are correct.| |

There are 19 regular judges. Concept Summary 2-1
Correct

Marks: 1/1
Subtitle A of the Internal Revenue Code covers which taxes?
Choose one answer.
| a. Penalty taxes.| |
| b. Estate and gift taxes.| |
| c. Excise taxes.| |
| d. Employment taxes.| |
| e. Income Taxes | Correct.|

Subtitle A covers income taxes. p. 2-6
Correct

Tax bills are handled by which committee in the U.S. Senate? Choose one answer.
| a. Taxation Committee.| |
| b. Ways and Means Committee.| |
| c. Finance Committee. | Correct.|...
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