Question 1

Compare and contrast IRS Proposed Regulations, IRS Temporary Regulations, and IRS Final Regulations. Explain the weight of authority and citations for each type of regulation and tell where the regulations are published by the IRS.

Accepted Answer

Regulations issued by the IRS are the Tr...

Question 2

Field Service Advice (FSAs) are binding guidance provided by the IRS National Office to IRS service centers.

Accepted Answer

A) True 
 B)False

Question 3

Treasury Decisions are published first, officially, in:

Accepted Answer

A)   the Internal Revenue Bulletin
B)   first in the Internal Revenue Bulletin and then in the Federal Register
C)   the Federal Register
D)   Congressional Committee Reports

Question 4

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

Accepted Answer

The three types of IRS written determina...

Question 5

An acquiescence indicates that a court decision will be:

Accepted Answer

A)   appealed by the IRS.
B)   followed in similar situations only if it favors the IRS.
C)   followed in similar situations, even if it is adverse to the IRS.
D)   ignored by the IRS.

Question 6

The IRS disclaims responsibility for damages that a taxpayer may suffer in erroneously relying on its Taxpayer Publications.

Accepted Answer

A) True 
 B)False

Question 7

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 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

IRS Publications are published in the monthly Internal Revenue Bulletin as well as on the IRS website.

Accepted Answer

A) True 
 B)False

Question 10

The IRS, as an administrative agency, is responsible for:

Accepted Answer

A)   formulating and interpreting the tax laws
B)   interpreting and enforcing the tax laws
C)   formulating and evaluating the tax laws
D)   planning and formulating the tax laws

Question 11

Which of the following IRS pronouncement citations is INCORRECT?

Accepted Answer

A)   Action on Decision 2010-002
B)   Publication 519
C)   Rev. Proc. 2011-14, 2011 I.R.B. 532
D)   Notice 07-10, 2007 C.B. 324
E)   All of the above citations are correct.

Question 12

With regard to IRS Announcements and Notices, which of the following statements is CORRECT?

Accepted Answer

A)   IRS Notices contain guidance on substantive interpretations of the Code.
B)   IRS Announcements and Notices are published in the weekly Internal Revenue Bulletin.
C)   IRS Announcements contain guidance on substantive interpretations of the law.
D)   Only (a)  and (b)  are correct.
E)   All of the above statements are correct.

Question 13

Describe the Internal Revenue Bulletin and identify the types of documents published in the Bulletin. Explain when it is published and the citations used to reference the Bulletin.

Accepted Answer

The Internal Revenue Bulletin (IRB) is t...

Question 14

IRS General Counsel Memoranda are legal analyses which:

Accepted Answer

A)   convey the IRS decision to acquiesce/nonacquiesce in a court decision.
B)   summarize and explain published IRS Regulations.
C)   assist in preparation of both Revenue Rulings and Private Letter Rulings.
D)   have only short-term value.

Question 15

Regulations may have retroactive effect in which of the following circumstances:

Accepted Answer

A)   The Regulation is designed to prevent abuse by taxpayers.
B)   The Regulation relates to internal Treasury Department policies, practices, or procedures.
C)   Both (a)  and (b) .
D)   Regulations can never be effective retroactively.

Question 16

A Regulation can never be made effective retroactively.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements is INCORRECT regarding the effective date of Regulations?

Accepted Answer

A)   A Regulation becomes effective 18 months after the statute on which it is based was enacted.
B)   A Regulation is effective on the date on which the Regulation is filed with the Federal Register.
C)   Temporary regulations are effective immediately upon publication.
D)   All of the above statements are correct.

Question 18

The IRS, under no circumstances, has the authority to decline to issue Letter Rulings.

Accepted Answer

A) True 
 B)False

Question 19

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 the above statements is correct.

Question 20

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 the above.

Exam 4: Administrative Regulations and Rulings

An acquiescence indicates that a court decision will be:

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Describe the Internal Revenue Bulletin and identify the types of documents published in the Bulletin. Explain when it is published and the citations used to reference the Bulletin.

Correct AnswerverifiedThe Internal Revenue Bulletin (IRB) is t...View AnswerShow Answer

Compare and contrast IRS Proposed Regulations, IRS Temporary Regulations, and IRS Final Regulations. Explain the weight of authority and citations for each type of regulation and tell where the regulations are published by the IRS.

Correct AnswerverifiedRegulations issued by the IRS are the Tr...View AnswerShow Answer

Treasury Decisions are published first, officially, in:

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With regard to IRS Announcements and Notices, which of the following statements is CORRECT?

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IRS Publications are published in the monthly Internal Revenue Bulletin as well as on the IRS website.

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The IRS, as an administrative agency, is responsible for:

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A Regulation can never be made effective retroactively.

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Field Service Advice (FSAs) are binding guidance provided by the IRS National Office to IRS service centers.

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IRS General Counsel Memoranda are legal analyses which:

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The IRS disclaims responsibility for damages that a taxpayer may suffer in erroneously relying on its Taxpayer Publications.

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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 regarding the effective date of Regulations?

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Regulations may have retroactive effect in which of the following circumstances:

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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.

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Which of the following IRS pronouncement citations is INCORRECT?

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The Commissioner of the IRS is appointed by the:

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Revenue Procedures deal with:

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The IRS, under no circumstances, has the authority to decline to issue Letter Rulings.

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

Correct AnswerverifiedThe three types of IRS written determina...View AnswerShow Answer

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The Internal Revenue Bulletin (IRB) is t...
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Regulations issued by the IRS are the Tr...
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The three types of IRS written determina...
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