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tax research test 1_0020

tax research test 1_0020 - Federal Tax Research Eighth...

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Unformatted text preview: Federal Tax Research, Eighth Edition Page 4. 26 T (R; 6. Before a Treasury Decision is published in final form, it must be issued in proposed form “ L' for a period of at least 90 days before it is scheduled to become final. T F 7. Regulations that are issued under general guidelines found in the Code are termed "genera " Regulations. ’I‘ (REV/V l 8. Proposed Regulations carry the full force of the law. T F 9. The Code gives the IRS the authority to prescribe "all needful rules and regulations for the enforcement" of the tax law. QQ“/"F 10. In a "legislative" Regulation, the IRS is directed by Congress effectively to fulfill a law- ' making function. T F l 1. Revenue Rulings are pronounced by the National Office of the IRS. T {\F \l r/ 12. Revenue Rulings and Procedures carry the same force and effect as Regulations. T F 13. Revenue Rulings are rare, only twenty to thirty per year are issued by the IRS. L; )/ ,» F 14. Prior to 195 3, Revenue Rulings were known by several different names such as Appeals Vx" and Review Memoranda (ARM) and Office Decisions (ODS). T F 15. Determination Letters usually relate to a completed transaction, rather than to a proposed transaction. ”A [(1/1 T LF/q” 16. A taxpayer's tax return, like most IRS rulings, is open to public inspection under §6110(t) of the Code. T F, 17. The IRS can only acquiesce or nonacquiesce to a loss in a regular decision of the Tax f; Court. A, / . . . 1LT/ F 18. In general, a tax researcher should not rely on IRS publications for professmnal research because such documents only give the IRS' point of view. Short Answer 1. Define and distinguish between general, legislative, temporary, and proposed regulations. 2. What is covered in a Revenue Ruling and a Revenue Procedure? Where is each type of ruling published? 7. r“ _ ~ I . f . i Z“? Mr I . . f . . - , i r ' M . g , g ‘ I a '= ( -'/// ' ...
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