Question 1

In the citation Rev Rul. 87-90, 1987-1 CB 198, the number "90" is the:

Accepted Answer

A)  ruling number for the year
B)  year of ruling
C)  paragraph number in the CB
D)  volume number in the CB

Question 2

All of the following types of tax documents are published in the Internal Revenue Bulletin EXCEPT:

Accepted Answer

A)  IRS Revenue Procedures
B)  IRS Letter Rulings
C)  Treasury decisions
D)  new tax treaties
E)  all of these documents are published in the Internal Revenue Bulletin

Question 3

The IRS's general authority to issue binding rules and regulations comes from which source?

Accepted Answer

A)  the U.S. Constitution
B)  an Executive Order of the President
C)  a section of the Internal Revenue Code itself
D)  none of these are correct

Question 4

Actions on Decision are published by the IRS in the Internal Revenue Bulletin and before 2009 in semiannual Cumulative Bulletins.

Accepted Answer

A) True 
 B)False

Question 5

Which citation represents the CORRECT numbering scheme for identification of IRS written determinations?

Accepted Answer

A)  9538005, where "95" is the year, "38" is the week of the year, and "005" is the number of the ruling/memoranda that week
B)  LTR 2010-43, where "2010" is the year and "43" is the number of the ruling or memoranda for that year
C)  1996 C.B. 6, where 1996 is the year and 6 is the page number for the ruling or memoranda
D)  200917024 where "2009" is the year, "17" is the week of the year, and "024" is the number of the ruling/memoranda for that week

Question 6

Temporary Regulations must be followed by taxpayers until they are superseded or until they expire.

Accepted Answer

A) True 
 B)False

Question 7

The Internal Revenue Bulletin would include:

Accepted Answer

A)  new tax laws issued by Congress
B)  actions on decisions
C)  tax treaties
D)  IRS notices
E)  all of these are correct

Question 8

The Commissioner of the IRS is appointed by the:

Accepted Answer

A)  The Treasury Secretary
B)  The President of the United States
C)  The Chief Counsel of the IRS
D)  General Counsel of the Treasury Department

Question 9

Temporary Regulations expire:

Accepted Answer

A)  after an IRS hearing on the regulations
B)  at the end of the public comment period
C)  five years after issuance pursuant to the statute
D)  three years after issuance pursuant to the statute
E)  Temporary Regulations never expire

Question 10

List the three types of IRS written determinations and briefly explain the differences.

Accepted Answer

The three types of IRS written determina...

Question 11

IRS General Counsel Memoranda:

Accepted Answer

A)  convey the IRS decision to acquiesce/nonacquiesce in a court decision
B)  summarize and explain published IRS Regulations
C)  have been replaced with chief counsel advice after 2002
D)  have only short-term value

Question 12

Which of the following is CORRECT with respect to Private Letter Rulings?

Accepted Answer

A)  They are issued by the IRS National Office in response to a specific taxpayer request.
B)  They can be cited as precedent by other taxpayers.
C)  They are published weekly by the IRS in the Internal Revenue Bulletin.
D)  They are also known as Technical Advice Memoranda.
E)  None of these are correct.

Question 13

Which of the following Regulations bears the greatest precedential value?

Accepted Answer

A)  Legislative Regulations
B)  Proposed Regulations
C)  General Regulations
D)  Income Tax Regulations

Question 14

Revenue Procedures deal with:

Accepted Answer

A)  specific taxpayer requests for the IRS's position on a tax issue
B)  applying the Code and Regulations to a specific factual situation
C)  the internal practice and procedures of the IRS in the administration of the tax laws
D)  all of these are correct

Question 15

The Internal Revenue Bulletin also is published in twice-yearly, bound volumes as the Cumulative Bulletin.

Accepted Answer

A) True 
 B)False

Question 16

Most official IRS pronouncements are written by:

Accepted Answer

A)  The IRS Office of Chief Counsel
B)  The IRS Commissioner
C)  The Treasury Secretary
D)  IRS Field Office Staff Members

Question 17

In the citation Reg. §1.162-2(a) (1) , the number "162" stands for the:

Accepted Answer

A)  type of Regulation
B)  related Code section
C)  Code of Federal Regulations
D)  Regulation paragraph

Question 18

Which of the following statements is INCORRECT with regard to IRS Revenue Rulings?

Accepted Answer

A)  Revenue Rulings apply the Code and Regulations to a specific factual situation.
B)  Revenue Rulings are published chiefly to give guidance to taxpayers.
C)  A Revenue Ruling is an official pronouncement of Congress.
D)  All of these are correct.

Question 19

A nonacquiescence indicates that the IRS disagrees with the adverse decision in the case and will follow the decision only for the specific taxpayer whose case resulted in the adverse ruling.

Accepted Answer

A) True 
 B)False

Question 20

Proposed Regulations have the effect of law.

Accepted Answer

A) True 
 B)False

Exam 4: Administrative Regulations and Rulings

A nonacquiescence indicates that the IRS disagrees with the adverse decision in the case and will follow the decision only for the specific taxpayer whose case resulted in the adverse ruling.

Correct AnswerverifiedShow Answer

Which citation represents the CORRECT numbering scheme for identification of IRS written determinations?

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Temporary Regulations must be followed by taxpayers until they are superseded or until they expire.

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Temporary Regulations expire:

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Proposed Regulations have the effect of law.

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The Internal Revenue Bulletin also is published in twice-yearly, bound volumes as the Cumulative Bulletin.

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Actions on Decision are published by the IRS in the Internal Revenue Bulletin and before 2009 in semiannual Cumulative Bulletins.

Correct AnswerverifiedShow Answer

The Commissioner of the IRS is appointed by the:

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The Internal Revenue Bulletin would include:

Correct AnswerverifiedShow Answer

Revenue Procedures deal with:

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The IRS's general authority to issue binding rules and regulations comes from which source?

Correct AnswerverifiedShow Answer

All of the following types of tax documents are published in the Internal Revenue Bulletin EXCEPT:

Correct AnswerverifiedShow Answer

In the citation Reg. §1.162-2(a) (1) , the number "162" stands for the:

Correct AnswerverifiedShow Answer

Which of the following Regulations bears the greatest precedential value?

Correct AnswerverifiedShow Answer

Most official IRS pronouncements are written by:

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Which of the following is CORRECT with respect to Private Letter Rulings?

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Which of the following statements is INCORRECT with regard to IRS Revenue Rulings?

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IRS General Counsel Memoranda:

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In the citation Rev Rul. 87-90, 1987-1 CB 198, the number "90" is the:

Correct AnswerverifiedShow Answer

List the three types of IRS written determinations and briefly explain the differences.

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The three types of IRS written determina...
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