Question

Which, if any, of the following statements is not accurate?
a. Every Code section has a treasury regulation.
b. The current Code is the 1986 Code, as amended.
c. Code sections inserted between consecutive existing section numbers are indicated by adding a capital letter to the Section number (for example Section 2032A).
d. None of the statements is accurate.

2. If any differences exist between the House of Representatives and the Senate passed versions of a tax bill, then
a. neither version of the tax bill can receive further consideration by Congress.
b. the House version is sent to the President since all tax legislation must originate in the House.
c. both versions of the tax bill are referred to the Joint Conference Committee
d. None of the statements is accurate.
3. Subtitle B of the Internal Revenue Code deals with what type of taxes and includes what section of the Internal Revenue Code?
a. Subtitle B deals with estate and gift taxes and includes Code Section 1015.
b. Subtitle B deals with business taxes and includes Code Section 351.
c. Subtitle B deals with estate and gift taxes and includes Code Section 2040.
d. Subtitle B deals with tax procedure, and includes Code Section 2518.

4 . Which of the following sections of the Internal Revenue Code deal with partnership taxation?
a. the 700s.
b. the 300s.
c. the 400s.
d. None of the above.

Answer 1

1. Which, if any, of the following statements is not accurate?

Solution: Every Code section has a treasury regulation.

Explanation: Every code section do not have a regulation

2. If any differences exist between the House of Representatives and the Senate passed versions of a tax bill, then

Solution: both versions of the tax bill are referred to the Joint Conference Committee

Explanation: If any differences occur among the House- and Senate-passed versions of a tax bill, the bill would be referred to the Joint Conference Committee

3. Subtitle B of the Internal Revenue Code deals with what type of taxes and includes what section of the Internal Revenue Code?

Solution: Subtitle B deals with estate and gift taxes and includes Code Section 2040

Explanation: Subtitle B of the Internal Revenue Code includes Code Section 2040 and deals with estate and gift taxes

4 . Which of the following sections of the Internal Revenue Code deal with partnership taxation?
Solution: the 700s.

Explanation: Sections 700s with partnership taxation