Question

1. Which of the following is true of the Internal Revenue Code of 1986?

a. It includes statutes and regulations.

b. It has not been changed since 1986.

c. Each Code section has a number that is unique from others.

d. More than one is true.

2. Which of the following is not true of the Treasury Regulations?

a. They are an official interpretation of the statute by the Treasury Department.

b. They are organized by Code Section numbers.

c. They are equal in authority to the statute.

d. They are binding on IRS personnel.

3. Which of the following is not a primary source of tax law?

a. The Internal Revenue Code of 1986                                    b. Revenue Rulings issued by the IRS

c. U.S. Tax Court memorandum decisions                            d. All of the above are primary sources

4. In which Federal court(s) may a taxpayer request a trial by jury?

a. District Court                                                                                b. Tax Court

c. Court of Federal Claims                                                            d. a. and c.

5. In which court may a taxpayer proceed without paying the deficiency in tax proposed by the IRS?

a. District Court                                                                                b. Tax Court

c. Court of Federal Claims                                                            d. None of these

6. If a taxpayer wishes to appeal his/her unfavorable U.S. District Court decision, the appeal is to which of the following?

a. The U.S. Tax Court

b. The appropriate U.S. Circuit Court of Appeals

c. The U.S. Court of Appeals for the Federal Circuit

d. Directly to the U.S. Supreme Court

7. Which of the following is not considered a secondary tax source?

a. Books, such as college text books

b. Tax services, including the editorial opinions expressed

c. The Internal Revenue Bulletin

d. Tax journals and other periodicals

8. Which of the following represents a citation to an income tax regulation?

a. § 351(b)(1)(A)                                                                            b. § 1.704(b)-1(c)

c. Treas. Reg. 89-36                                                                         d. CCH 23,445

9. You are given this citation:

      Millar v. Comm., 78-2 USTC ¶ 9514, 42 AFTR2d 78-4276, 577 F.2d 212 (CA-3, 1978)

Which of the following is not true of this citation?

a. The taxpayer, Millar, lost at the trial court and appealed to the appeals court.

b. This decision is reported by CCH, RIA, and West.

c. The decision was rendered by the U.S. Tax Court (USTC).

d. The decision was rendered in 1978.

Answer 1

1. c. Each Code section has a number that is unique from others.

The code section starts with Section 1 However to be noted it is in order however its not sequential

2. c. They are equal in authority to the statute.

The Regulations are generally are used to interpret the statue and it can override the statute which means it has less authority.

3.d. All of the above are primary

4.a. District Court

In this only jury will decide questions of fact however questions of law will be decided by the judge.

5. b. Tax Court

6.b. The appropriate U.S. Circuit Court of Appeals

Appeal is to the Circuit Court For the Circuit in which district Court is located.

7 c. The Internal Revenue Bulletin

8 b. § 1.704(b)-1(c)

9.c. The decision was rendered by the U.S. Tax Court (USTC).