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757 mid spr 2020online rev. (1) - Saved to this PC Layout References Mailings Review arch H elp View Foxit PDF N a 1. A

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757 mid spr 2020online rev. (1) - Saved to this PC Layout References Mailings Review arch H elp View Foxit PDF N a 1. A tax practitioner must be comfortable with tax research To learn about the tax law To not overlook the most recent changes in the law b. To locate proper authority to answer a d All of the above question 2. The following are all primary sources of tax law except a A private letter ruling CA House Ways & Means Committee Report b. RIA's Checkpoint d A temporary regulation 3. If a tax manager asks you to look at TD 9549, he or she is asking you to analyze a A Code section c. A final or temporary regulation A Technical Advice Memorandum d None of these 4. A court in which you can initiate a tax controversy without first paying the tax deficiency is: a The U.S. District Court c. The U.S. Court of Federal Claims b. The US Tax Court d The US Supreme Court 5. 6 A partnership is a A tax paying entity c. Both (a) and (b) A tax-reporting entity d Neither (a) nor (b) An S corporation and an LLC that is taxed as a partnership have the following in common except Both must file the same charter of C Both offer the advantage of limited incorporation under local law liability and flow through taxation b Neither one is a corporation d Both may be considered hybrid" entities 7. A major simplification in the tax law was the enactment of Reg. 301.7701-1 through 3, "check-the-box regulations Which of the following statements is true reading them a. An LLC consisting of two or more Apartnership may not choose to be taxed members may choose to be taxed as a sole as a corporation proprietorship b. An LLC consisting of two or more d An entity formed under NY law that members may choose to be taxed as a must refer to itself as incorporated can partnership or corporation choose to be taxed as a partnership

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