Test Bank For Federal Tax Research 11th Edition By Sawyers

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Edition: 11th Edition

Format: Downloadable ZIP Fille

Resource Type: Test bank

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Test Bank For Federal Tax Research 11th Edition By Sawyers

Test Bank For Federal Tax Research 11th Edition By Sawyers
Federal Tax Research 11th Edition By Sawyers – Test Bank
Test Bank Federal Tax Research 11th Edition By Sawyers
Federal Tax Research 11th Edition By Sawyers

Chapter 1

1. Tax compliance is the process of:

  a.  filing necessary tax returns

  b.  gathering the financial information necessary to report taxable income

  c.  representing a taxpayer at an IRS audit

  d.  all of these are correct

ANSWER:   d

POINTS:   1

DIFFICULTY:   Easy

QUESTION TYPE:   Multiple Choice

HAS VARIABLES:   False

DATE CREATED:   3/30/2017 11:37 AM

DATE MODIFIED:   4/20/2017 2:12 PM

2. Tax evasion is:

  a.  a fraudulent act involving illegal nonpayment of taxes

  b.  one of the objectives of tax planning

  c.  an act of deferring tax payments to future periods

  d.  the same as tax avoidance as both of them result in nonpayment of taxes

ANSWER:   a

POINTS:   1

DIFFICULTY:   Easy

QUESTION TYPE:   Multiple Choice

HAS VARIABLES:   False

DATE CREATED:   3/30/2017 11:37 AM

DATE MODIFIED:   3/30/2017 11:37 AM

3. Tax litigation is a process of:

  a.  participating in an administrative audit

  b.  settling tax-related disputes in a court of law

  c.  filing amended tax returns as prescribed by tax laws

  d.  arranging a taxpayer’s affairs to minimize tax liabilities

ANSWER:   b

POINTS:   1

DIFFICULTY:   Easy

QUESTION TYPE:   Multiple Choice

HAS VARIABLES:   False

DATE CREATED:   3/30/2017 11:37 AM

DATE MODIFIED:   3/30/2017 11:37 AM

4. Regarding open transactions, which of the following statements is INCORRECT?

  a.  The transaction is not yet completed.

  b.  The practitioner can suggest changes to achieve a better tax result.

  c.  A tax practitioner has some degree of control over the client’s tax liability.

  d.  The practitioner can fix the problem by amending the client’s tax return.

ANSWER:   d

POINTS:   1

DIFFICULTY:   Easy

QUESTION TYPE:   Multiple Choice

HAS VARIABLES:   False

DATE CREATED:   3/30/2017 11:37 AM

DATE MODIFIED:   4/20/2017 3:15 PM

5. Which of the following statements best describes Circular 230?

  a.  Circular 230 has been adopted by the AICPA as its set of rules of practice for CPAs.

  b.  Circular 230 is a set of Treasury Department ethical and legal standards for those engaging in practice before the IRS.

  c.  Circular 230 is a set of internal rules at the IRS designed to protect tax practitioners from unfair discipline by the IRS.

  d.  Circular 230 is a set of ethical rules for taxpayers.

ANSWER:   b

POINTS:   1

DIFFICULTY:   Moderate

QUESTION TYPE:   Multiple Choice

HAS VARIABLES:   False

DATE CREATED:   3/30/2017 11:37 AM

DATE MODIFIED:   3/30/2017 11:37 AM

Shipping & Delivery

MAECENAS IACULIS

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ADIPISCING CONVALLIS BULUM

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