Solutions For South-Western Federal Taxation 2024, Corporations, Partn
ships, Estates and Trusts, 47th Edition Raabe (Chapters 1-10 included)
Study online at https://quizlet.com/_g1yn6g
1. A partnership is taxed as a separate entity: False
2. A system whereby income taxes are withheld systematically from current
wages can be referred to as a "pay-as-you-go" system.: True
3. An equitable tax system is a fair tax system.: True
4. Since 1980, the group of taxpayers whose tax burden has increased the
most is: Individuals
5. Revenue legislation begins in the Senate: False
6. Tax avoidance can be the sole business purpose for a transaction: False
7. Tax avoidance is discouraged as being anti-American.: False: Perfectly legal
and encourage by our society
8. What notion recognizes that mere appreciation in value does not necessar-
ily mean that the owner has the resources to pay the tax associated with the
appreciation:: wherewithal-to-pay concept
9. The ultimate source of power to tax resides with the: Constitution
10. The rate of tax that a taxpayer pays on the last dollar of income is known
as: the marginal tax rate
11. The most popular form of doing business in the United States is: Single
proprietorship
12. The doctrine of separation of powers refers to the relationship between the
Internal Revenue Service and the Treasury Department.: False
13. The current tax system can be classified as "pay-as-you-go.": True
14. The Sixteenth Amendment to the U.S. Constitution affects: direct taxes
15. The Revenue Reconciliation Act of 1998 imposed the following: Lowered
the holding period for long-term capital gains from 18 to 12 months
16. Tax avoidance should be at the top of every taxpayer's list for tax planning-
: True
17. Another name for a flat tax is a progressive tax: False- a flat tax is a
proportional tax
18. Flow-through entities do not pay tax on taxable income, so it is not neces-
sary for them to keep track of their gross income.: False
19. "Closed Fact" tax research relates to the various procedures involved
in "before-the-facts planning" situations: False: Closed fact research relates to
"after-the-facts compliance" or ex post facto research
20. A corporation may be represented by one of its bona fide officers before
the Internal Revenue Service: True
21. All Revenue Rulings are published in the Internal Revenue Bulletin, and
eventually in the Cumulative Bulletin.: True. However, sometimes delays will
1/7
, Solutions For South-Western Federal Taxation 2024, Corporations, Partn
ships, Estates and Trusts, 47th Edition Raabe (Chapters 1-10 included)
Study online at https://quizlet.com/_g1yn6g
occur and a ruling with a later number may be published before one with an earlier
number
22. All of the following statements relating to Treasury regulations are true ex-
cept:: the rules contained in temporary regulations can never be used as authority
by taxpayers but, instead, are meant to aid in taxpayer compliance with IRS rules
and regulations.
23. Jury trial is available in the: District Court. A jury trial is available only in the
District Court
24. In response to a preliminary (30-day) letter, a written protest discussing the
facts and legal arguments must accompany a written request for an Appeals
Conference in which of the following cases?: A proposed disallowance of a
$3,000 refund claim
25. Practice before the IRS is available only for "enrolled agents.": False. Prac-
tice before the IRS is available for CPAs and attorneys also as well as a few other
groups
26. Regulations can be in the form of:: temporary, proposed, or final Regulations
27. Regulations may be legislative, interpretative, and procedural, and are
afforded different weight by the courts: True. These are three types of regulations
which have different weight.
28. Revenue rulings are issued on the basis of Code sections and may be
subsequently changed (modified) or revoked to reflect subsequent law or
regulation changes and court decisions.: True
29. The "Compilations" which comprise the major portion of Volumes 1
through 18 of the CCH Standard Tax Service:: Do not contain the full text of
Revenue Rulings
30. The Internal Revenue Code of 1939 replaced the piecemeal annual revenue
acts.: True. The IRS Code was the first codification of the previous annual revenue
acts
31. The Tax Court may issue an opinion as a "Regular," as opposed to a
"Memorandum" opinion, if: The Tax Court considers the case to be expressive
of a new point not previously covered by one of its published decisions.
32. The authority of the U.S. government to raise revenue through a federal
income tax is derived from:: The 16th Amendment to the Constitution
33. The term "tax doctrine" refers to a: Judicial interpretation with strong prece-
dential value
34. There is no limitation on the period for assessment if: the taxpayer files a
false return
2/7
ships, Estates and Trusts, 47th Edition Raabe (Chapters 1-10 included)
Study online at https://quizlet.com/_g1yn6g
1. A partnership is taxed as a separate entity: False
2. A system whereby income taxes are withheld systematically from current
wages can be referred to as a "pay-as-you-go" system.: True
3. An equitable tax system is a fair tax system.: True
4. Since 1980, the group of taxpayers whose tax burden has increased the
most is: Individuals
5. Revenue legislation begins in the Senate: False
6. Tax avoidance can be the sole business purpose for a transaction: False
7. Tax avoidance is discouraged as being anti-American.: False: Perfectly legal
and encourage by our society
8. What notion recognizes that mere appreciation in value does not necessar-
ily mean that the owner has the resources to pay the tax associated with the
appreciation:: wherewithal-to-pay concept
9. The ultimate source of power to tax resides with the: Constitution
10. The rate of tax that a taxpayer pays on the last dollar of income is known
as: the marginal tax rate
11. The most popular form of doing business in the United States is: Single
proprietorship
12. The doctrine of separation of powers refers to the relationship between the
Internal Revenue Service and the Treasury Department.: False
13. The current tax system can be classified as "pay-as-you-go.": True
14. The Sixteenth Amendment to the U.S. Constitution affects: direct taxes
15. The Revenue Reconciliation Act of 1998 imposed the following: Lowered
the holding period for long-term capital gains from 18 to 12 months
16. Tax avoidance should be at the top of every taxpayer's list for tax planning-
: True
17. Another name for a flat tax is a progressive tax: False- a flat tax is a
proportional tax
18. Flow-through entities do not pay tax on taxable income, so it is not neces-
sary for them to keep track of their gross income.: False
19. "Closed Fact" tax research relates to the various procedures involved
in "before-the-facts planning" situations: False: Closed fact research relates to
"after-the-facts compliance" or ex post facto research
20. A corporation may be represented by one of its bona fide officers before
the Internal Revenue Service: True
21. All Revenue Rulings are published in the Internal Revenue Bulletin, and
eventually in the Cumulative Bulletin.: True. However, sometimes delays will
1/7
, Solutions For South-Western Federal Taxation 2024, Corporations, Partn
ships, Estates and Trusts, 47th Edition Raabe (Chapters 1-10 included)
Study online at https://quizlet.com/_g1yn6g
occur and a ruling with a later number may be published before one with an earlier
number
22. All of the following statements relating to Treasury regulations are true ex-
cept:: the rules contained in temporary regulations can never be used as authority
by taxpayers but, instead, are meant to aid in taxpayer compliance with IRS rules
and regulations.
23. Jury trial is available in the: District Court. A jury trial is available only in the
District Court
24. In response to a preliminary (30-day) letter, a written protest discussing the
facts and legal arguments must accompany a written request for an Appeals
Conference in which of the following cases?: A proposed disallowance of a
$3,000 refund claim
25. Practice before the IRS is available only for "enrolled agents.": False. Prac-
tice before the IRS is available for CPAs and attorneys also as well as a few other
groups
26. Regulations can be in the form of:: temporary, proposed, or final Regulations
27. Regulations may be legislative, interpretative, and procedural, and are
afforded different weight by the courts: True. These are three types of regulations
which have different weight.
28. Revenue rulings are issued on the basis of Code sections and may be
subsequently changed (modified) or revoked to reflect subsequent law or
regulation changes and court decisions.: True
29. The "Compilations" which comprise the major portion of Volumes 1
through 18 of the CCH Standard Tax Service:: Do not contain the full text of
Revenue Rulings
30. The Internal Revenue Code of 1939 replaced the piecemeal annual revenue
acts.: True. The IRS Code was the first codification of the previous annual revenue
acts
31. The Tax Court may issue an opinion as a "Regular," as opposed to a
"Memorandum" opinion, if: The Tax Court considers the case to be expressive
of a new point not previously covered by one of its published decisions.
32. The authority of the U.S. government to raise revenue through a federal
income tax is derived from:: The 16th Amendment to the Constitution
33. The term "tax doctrine" refers to a: Judicial interpretation with strong prece-
dential value
34. There is no limitation on the period for assessment if: the taxpayer files a
false return
2/7
