CHAPTER 2--WORKING WITH THE

CHAPTER 2--WORKING WITH THE - CHAPTER 2-WORKING WITH THE...

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CHAPTER 2--WORKING WITH THE TAX LAW Student: ___________________________________________________________________________ 1. A large part of tax research involves determining the intent of Congress. True False 2. Neither the 1939 nor the 1954 Code substantially changed the tax law existing on the date of its enactment. True False 3. Federal tax legislation generally originates in the Senate Finance Committee. True False 4. Individual Senators have considerable latitude to make amendments on the Senate floor. True False 5. Subchapter K refers to the “Partners and Partnerships” section of the Code. True False 6. A Revenue Procedure is an administrative source of Federal tax law. True False 7. Some Regulations are arranged in different sequence than the Code. True False 8. Proposed Regulations have the force and effect of law. True False 9. Temporary Regulations have the same authoritative value as Finalized Regulations. True False 10. Proposed Regulations are not published in the Federal Register . True False 11. Regulations are issued by the Treasury Department. True False 12. Revenue Rulings carry the same legal force and effect as Regulations. True False 1
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13. Revenue Procedures deal with the internal management practices and procedures of the IRS. True False 14. Letter rulings may not be substantial authority for purposes of the accuracy-related penalty in § 6662. True False 15. Determination letters usually involve proposed transactions. True False 16. Technical Advice Memoranda deal with completed transactions. True False 17. Treasury Decisions are issued by the Treasury Department to promulgate new Regulations. True False 18. General Counsel Memoranda may be cited as precedents by taxpayers. True False 19. Unlike determination letters, letter rulings are issued by the National Office of the IRS. True False 20. 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. True False 21. In a U.S. District Court, a jury can decide both questions of fact and questions of law. True False 22. Three judges will normally hear each U.S. Tax Court case. True False 23. A taxpayer can obtain a jury trial in a U.S. Court of Federal Claims. True False 24. A taxpayer must pay any tax deficiency assessed by the IRS and sue for a refund to bring suit in the U.S. Court of Federal Claims. True False 25. Arizona is in the jurisdiction of the First Circuit Court of Appeals. True False 26. Texas is in the jurisdiction of the Second Circuit Court of Appeals. True False 2
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27. The Golsen rule has been overturned by the U.S. Supreme Court. True False 28. The granting of a Writ of Certiorari indicates that at least five members of the Supreme Court believe that an issue is of sufficient importance to be heard by the full court.
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This note was uploaded on 03/21/2012 for the course ACCT 442 taught by Professor Honig during the Spring '12 term at CUNY Lehman.

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CHAPTER 2--WORKING WITH THE - CHAPTER 2-WORKING WITH THE...

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