1. locate a Regulation that provides guidance on the definition of performance based compensation for purposes of the $1,000,000 compensation deduction limitation. provide a proper citation for the Regulation.

2. locate a PLR to answer the question: is racing fuel with 110 pctane subject to the gasoline excise tax? provide a proper citation for the PLR and indicate its holding.

3. locate the following case heard by the 8th Circuit:

Surtherland Lumber-Southwest, Inc. v. Commissioner

a. what is the primary code section(s) in the question for this case?

b. who won the case?

c. if the IRS lost the case, did they acquiesce or not?

d. explain how you located the information to answer these questions.