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A) A researcher may begin with any of the six steps in the process.
B) The process is not linear because the researcher may have to repeat one or more of the steps before concluding the research.
C) If a set of facts suggests multiple research questions,the researcher must decide on the order in which the questions should be answered.
D) The last step in the process requires preparation of a written summary that communicates the researcher's conclusions.
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A) The Internal Revenue Code
B) Treasury regulations
C) Revenue rulings
D) Revenue procedures
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There are many possible answers to this ...View Answer
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A) Sec.1245
B) Lengsfield v.Comm.,50 AFTR 1683 (CA-5,1957)
C) M-5800 Activities Not Engaged in for Profit - Hobby Losses
D) Rev.Proc.2002-32,2002-1 C.B.959
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A) The ease with which such libraries can be updated for new developments.
B) Portability.
C) Speed of access and search.
D) All of the above are advantages of electronic tax research libraries.
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A) Commercial tax services explain and interpret the tax law.
B) Commercial tax services organize information about primary authorities in a manner that facilitates tax research.
C) Commercial tax services contain both primary authority and secondary authority.
D) Consulting a commercial tax service is typically the final step rather than a preliminary step in the tax research process.
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A) Reg.Sec.1.61-1(a)
B) Reg.1.61-1(a)
C) Reg.§1.61-1(a)
D) Treasury Regulation 61-1(a)
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A) The researcher is finished only when an unambiguous answer to the research question has been located.
B) Different sources of authority may provide conflicting answers.
C) Interpretation and judgment on the part of the researcher is rarely required.
D) The researcher should never give an unqualified answer to any research question.
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A) Private letter rulings are considered authoritative only for the taxpayer to whom they were issued.
B) A technical advice memorandum is requested by a revenue agent or appeals officer during the examination or appeal of a taxpayer's return.
C) Revenue procedures are considered secondary authority.
D) Private letter rulings can only be obtained for a fee from the IRS.
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A) Discover all the facts relevant to the taxpayer's transaction.
B) Decide which tax library to use.
C) Decide whether to read primary or secondary authority.
D) Formulate a precise research question.
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A) Using the topical index
B) Using the table of contents
C) In an electronic service,using a keyword search
D) All of the above are typical strategies for using a commercial tax service.
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A) RIA Federal Tax Coordinator 2d
B) CCH Federal Tax Services
C) BNA Tax Management Portfolios
D) Cumulative Bulletin
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A) Novice researchers tend to examine fewer materials during the research process than experienced researchers.
B) In an electronic tax service,keyword searching allows the researcher to combine words and phrases to target the search.
C) Keyword searches should be defined as narrowly as possible to maximize efficiencies in the search process.
D) All of the above are true statements.
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