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Chapter 1 What Are Those Disciplines Briefly discuss Their Impact
Powered by Cognero ANSWER: d POINTS: 1 DIFFICULTY: Easy 1. Tax compliance is the process of: a. filing necessary tax returns b. gathering the financial information necessary to report taxable income c. representing a taxpayer at an IRS audit d. […]
Chapter 10 Most research using the Codification is expected
Powered by Cognero ANSWER: d POINTS: 1 DIFFICULTY: Moderate 1. In the United States, GAAP comes under the purview of the: a. Financial Accounting Standards Board (FASB). b. IRS. c. Securities and Exchange Commission (SEC). d. All of the above. […]
Chapter 11 Revenue Rulings and Revenue Procedures are frequently modified
Powered by Cognero ANSWER: a POINTS: 1 DIFFICULTY: Easy 1. To effectively convey the results of a tax research project, the practitioner must: a. consult IRS officials. b. apply professional judgment and communication skills. c. have an informal discussion with […]
Chapter 12 The tax rate which is computed by simply dividing the total
Powered by Cognero ANSWER: c POINTS: 1 DIFFICULTY: Moderate 1. Which of the following is a feature of a properly accomplished tax planning? a. It allows the tax professional to exercise a higher degree of creativity. b. It forces the […]
Chapter 13 The procedure used to match the information recorded on a return
Powered by Cognero ANSWER: a POINTS: 1 DIFFICULTY: Easy 1. The Commissioner of the Internal Revenue Service (IRS) is appointed by the: a. President of the United States b. Secretary of the Treasury c. Senate d. Congress ANSWER: a POINTS: […]
Chapter 14 What is the general statute of limitations on assessment
Powered by Cognero ANSWER: b POINTS: 1 DIFFICULTY: Moderate 1. Penalties that are based on a percentage of the delinquent tax are referred to as: a. assessable penalties b. ad valorem penalties c. criminal penalties d. nominal penalties ANSWER: b […]
Chapter 2 Most online tax services allow the use of connectors and wild cards
Powered by Cognero ANSWER: a POINTS: 1 DIFFICULTY: Easy 1. Which of the following statements describes the tax research process? a. It is strictly linear. b. It requires mechanical skills combined with critical thinking. c. It requires the ability to […]
Chapter 3 Internal Revenue Code a All Sections New Tax
Powered by Cognero ANSWER: c POINTS: 1 DIFFICULTY: Moderate 1. Regarding the taxing powers of the federal government, the U.S. Constitution requires that: a. taxes imposed by Congress must apply uniformly throughout the U.S. b. no direct taxes may be […]
Chapter 4 Irs Interpret The Language The code Usually Under
Powered by Cognero ANSWER: d POINTS: 1 DIFFICULTY: Moderate 1. The IRS, as an administrative agency, is responsible for: a. formulating and interpreting the tax laws b. interpreting and enforcing the tax laws c. formulating and evaluating the tax laws […]
Chapter 5 Federal Court System Are The Us Courts
Powered by Cognero ANSWER: b POINTS: 1 DIFFICULTY: Moderate 1. An appeal from the Tax Court is to the: a. U.S. Court of Appeals where the taxpayer is located. b. District Court where the taxpayer is located. c. U.S. Court […]
Chapter 6 The tax research platform ‘Checkpoint’ is a product of
Powered by Cognero ANSWER: b POINTS: 1 DIFFICULTY: Moderate 1. Which statement is CORRECT regarding commercial tax services? a. They provide free access to all primary source tax materials. b. They eliminate the need for reading primary tax law source […]
Chapter 7 Moderate 35 Citator The Highest Level Court Address
Powered by Cognero ANSWER: c POINTS: 1 DIFFICULTY: Easy 1. Why do tax practitioners use a commercial tax service when most primary sources are available for free on the Internet? a. Commercial tax services provide editorial explanations and expert analysis […]
Chapter 8 The Westlaw service to which many schools and universities
Powered by Cognero ANSWER: c POINTS: 1 DIFFICULTY: Moderate 1. BNA Bloomberg is best known in the tax community as the publisher of the: a. BNA Collections b. BNA Tax Management Portfolio c. BNA Bloomberg Tax & Accounting Center d. […]
Chapter 9 The law that prevents the income taxation of interstate
Powered by Cognero ANSWER: a POINTS: 1 DIFFICULTY: Easy 1. Tax practitioners need to expand their local service to clients to include: a. income Tax. b. state and local tax. c. multijurisdictional taxation. d. tax planning ANSWER: c POINTS: 1 […]