Tax Research

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Questions Bank

Taxes and Taxing Jurisdictions
Policy Standards for a Good Tax
Taxes as Transaction Costs
Maxims of Income Tax Planning
Tax Research
Taxable Income from Business Operations
Property Acquisitions and Cost Recovery Deductions
Property Dispositions
Nontaxable Exchanges
Sole Proprietorships
The Corporate Taxpayer
The Choice of Business Entity
Jurisdictional Issues in Business Taxation
The Individual Tax Formula
Compensation and Retirement Planning
Investment and Personal Financial Planning
Tax Consequences of Personal Activities
The Tax Compliance Process

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Question 1

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True/False

Experienced tax professionals generally can answer most tax questions without the need for tax research.

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Question 2

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True/False

A single tax issue may result in multiple research questions.

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Question 3

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True/False

The first step in the tax research process is to locate relevant tax law authority.

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Question 4

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True/False

The final step in the tax research process is to document and communicate research conclusions.

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Question 5

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True/False

Effective tax research often omits the first two steps of the tax research process.

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Question 6

True/False

Professional tax research conclusions should always be based on relevant secondary authority.

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Question 7

True/False

A research memorandum is typically less detailed than a client letter in terms of discussing supporting legal authorities.

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Question 8

True/False

Novice tax researchers tend to examine less material in the course of a tax research project than experienced tax researchers.

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Question 9

True/False

Tax research typically occurs as part of the tax compliance process; it is rarely important in tax planning.

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Question 10

True/False

Tax research may occur as part of tax compliance or tax planning.

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Question 11

True/False

Step 4 of the tax research process is to repeat steps 1 through 3 as many times as necessary.

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Question 12

True/False

The results of the tax research process should be documented in a research memo, in a letter to the client, or both.

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Question 13

True/False

In circumstances requiring an evaluative judgment, the tax researcher can provide a definitive answer to the research question.

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Question 14

True/False

Tax judicial decisions each have a single, unique citation.

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Question 15

True/False

If a trial court decision has been appealed and the appellate court reversed the trial court's decision, the trial court decision is considered authoritative.

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Question 16

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Private letter rulings are authoritative only for the specific taxpayer to whom they are issued and cannot be relied on as authority by any other taxpayer.

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Question 17

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Editorial explanations provided by electronic tax services are examples of secondary authority.

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Question 18

True/False

Technical advice memoranda are considered primary authority for any taxpayer in a similar tax situation.

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Question 19

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Private letter rulings and technical advice memoranda are primary authority for those taxpayers to whom they were issued.

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Question 20

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The Internal Revenue Code is the primary source of statutory authority for federal income tax law.

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