Question 1

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 2

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 3

Determination Letters are:

Accepted Answer

A)  issued by the National Office of the IRS on proposed transactions
B)  issued by a local IRS office, usually on completed transactions
C)  published first in the Internal Revenue Bulletin
D)  issued toIRS field agents as audit guidance

Question 4

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 5

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 these are correct.

Question 6

IRS Technical Memoranda summarize and explain regulations.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

The IRS issues General Regulations under the general authority granted tothe IRS tointerpret the language of the Code, usually under a specific Code (or committee report)directive of Congress.

Accepted Answer

A) True 
 B)False

Question 9

Define general and legislative regulations, and explain the distinction.

Accepted Answer

General regulations are issued under the...

Question 10

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 11

Which statement is INCORRECT regarding Proposed Regulations?

Accepted Answer

A)  They donot have the same effect as law.
B)  Proposed Regulations are useful for understanding the IRS's current position on an issue but generally should not be relied on by a taxpayer unless the IRS provides explicit advice on doing so.
C)  Proposed Regulations carry the same authority as Final Regulations.
D)  None of these are correct.

Question 12

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 13

The U.S. Treasury Department is a part of the Internal Revenue Service.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

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 16

A _____ 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)  nonacquiescence
B)  acquiescence
C)  noncommittal
D)  none of these are correct

Question 17

An IRS Technical Advice Memorandum applies strictly tothe taxpayer for whose audit it was requested and cannot be relied upon by other taxpayers.

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

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

Question 19

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

Accepted Answer

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

Question 20

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 tothe statute
D)  three years after issuance pursuant tothe statute
E)  Temporary Regulations never expire

Exam 4: Administrative Regulations and Rulings

A _____ 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

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Determination Letters are:

Correct AnswerverifiedShow Answer

IRS Technical Memoranda summarize and explain regulations.

Correct AnswerverifiedShow Answer

The Commissioner of the IRS is appointed by the:

Correct AnswerverifiedShow Answer

Temporary Regulations expire:

Correct AnswerverifiedShow Answer

The U.S. Treasury Department is a part of the Internal Revenue Service.

Correct AnswerverifiedShow Answer

The IRS issues General Regulations under the general authority granted tothe IRS tointerpret the language of the Code, usually under a specific Code (or committee report)directive of Congress.

Correct AnswerverifiedShow Answer

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

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

An IRS Technical Advice Memorandum applies strictly tothe taxpayer for whose audit it was requested and cannot be relied upon by other taxpayers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which statement is INCORRECT regarding Proposed Regulations?

Correct AnswerverifiedShow Answer

Treasury Decisions are published first , officially, in:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Define general and legislative regulations, and explain the distinction.

Correct AnswerverifiedGeneral regulations are issued under the...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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The Internal Revenue Bulletin (IRB)is th...
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General regulations are issued under the...
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