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Lesson_2 - the Court will hear and decide the controversy...

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Q11. Rank the following items from the highest authority to the lowest in the Federal tax law system: (1) Internal Revenue Code. (2) Legislative Regulation. (3) Interpretive Regulation. (4) Revenue Ruling. (5) Proposed Regulation (most courts ignore Proposed Regs.). (6) Letter ruling (valid only to the taxpayer to whom issued). Q18. Which of the following would be considered advantages of the small cases division of the Tax court? c. Taxpayer can handle the litigation without using a lawyer or certified public accountant e. The actual hearing is conducted informally. f. Travel time will probably be reduced Q19. List an advantage and a disadvantage of using the US District Court as the trial court for Federal tax litigation. The major advantage of a U.S. District Court is the availability of a trial by a jury. One disadvantage of a U.S. District Court is that the tentative tax deficiency first must be paid before
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Unformatted text preview: the Court will hear and decide the controversy. In the U.S. Tax Court, the tax need not be paid prior to litigating the controversy (although interest will be due on an unpaid deficiency) P50. a. E b. E c. A d. A e. A a. terry writes a $250 check for a charitable contribution on Dec 28,2008, but does not mail the check to the charitable organization until Jan 10,2009. She takes a deduction in 2008 b. Robert decides not to report interest income from a bank because the amount is only $11.75 c. Jim pays property taxes on his home in Dec 2008 rather than waiting until Feb 2009 d. Jane switches her investments from taxable corporate bonds to tax-exempt municipal bonds e. Ted encourages his mother to save most of her social security benefits so that he will be able to claim her as a dependent....
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