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Exam 2: Tax Compliance,the Irs,and Tax Authorities

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Question 1

True/False

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If a taxpayer loses a case at the circuit court level,he is granted an automatic appeal hearing with the Supreme Court.

A) True
B) False

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Question 2

Multiple Choice

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Edie would like to better understand a new code section enacted four weeks ago.Which of the following authorities will help Edie understand the newly enacted code section?

A) IRS regulations.
B) U) S.Tax Court cases.
C) Committee reports.
D) IRS revenue rulings.
E) None of the choices are correct.

F) A) and C)
G) B) and D)

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Question 3

Multiple Choice

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Generally,if April 15^th falls on a Saturday,individual tax returns will be due on:

If the president vetoes tax legislation,Congress:

The three basic types of IRS examinations are computer exams,office exams,and business exams.

Tina has a very complex tax return and it looks like she will not be able to file her tax return by its due date.When is her tax return due? What are Tina's options for paying her tax due and filing her tax return this year? What are the consequences if Tina does not file or pay her tax in a timely manner? Be specific.

If the IRS assesses additional tax on a tax return upon audit,a taxpayer may be subject to interest and penalties on the underpayment.

Which of the following types of tax services is arranged by code section?

If an individual taxpayer is unable to file a tax return by its original due date,the taxpayer can request an automatic nine-month extension to file the return.

The regulation with the lowest authoritative weight is the:

Rebecca is at a loss.A new tax law was recently passed,and she needs to get a better understanding of why the tax law was passed and the intent of the law from an official authority.Describe what authorities may be especially helpful to Rebecca and why she can't find many authorities that discuss the new law.

Which of the following courts is the only court that provides for a jury trial?

An extension to file a tax return does not extend the due date for tax payments.

Which judicial doctrine means that a court will rule consistently with its previous rulings and the rulings of higher courts with appellate jurisdiction?

Which of the following has the highest authoritative weight?

The "90-day" letter gives the taxpayer the opportunity to pay a proposed IRS tax adjustment or file a petition in the U.S.District Court to contest the adjustment and hear the case.

For the 2019 tax returns,indicate when the statute of limitations expires and why. a.Phoenix filed his tax return on February 28,2020. b.Jill and Randy filed their tax return on August 16,2020. c.Although required to file,Catherine chose not to file a tax return this year because she was expecting a tax refund and could not pull together all the information needed to file the return. d.Jerry filed his tax return on May 22,2020,but has accidentally underreported his taxable income by 30 percent.

Houston has found conflicting authorities that address a research question for one of his clients.The majority of the authorities provide a favorable answer for his client.Nonetheless,there are several authorities that provide an unfavorable answer.Houston estimates that if the client takes the more favorable position on its tax return there is approximately a 60 percent chance that the position will be sustained upon audit or judicial proceeding.If the client takes this position on its tax return,will Houston be subject to penalty? Will the client potentially be subject to penalty?

The tax return filing requirements for individual taxpayers only depend on the taxpayer's filing status.

Lindy,a tax intern,is beginning her first tax research case for her employer.Her manager has given her a basic understanding of the facts and has identified the basic research question.Lindy is now ready to begin searching for relevant tax authorities.Describe the different types of research tools available to help a tax researcher locate relevant authority and identify which type may be especially useful for Lindy.