Accounting Question (Tax Research and Procedure)

1. What Code section was amended by Section 209 of the "Tax Increase Prevention and Reconciliation Act of 2005" (P.L. 109-222)?

2. Which of the following journals tend to be oriented toward addressing issues from a theoretical, non-practitioner point of view?

a. National Tax Journal

b. Journal of Taxation

c. The Tax Adviser

d. Taxes

3. State the effect of Rev. Rule 74-385 on previous Treasury pronouncements.

4. According to the legislative history of Act Section 601 of the Economic Growth and Tax Relief Reconciliation Act of 2001 what were the reasons for changing the contribution limits to IRAs? Cite your authority.

5. Are residents of East Timor covered by the U.S. income tax treaty with Indonesia? Cite your authority.

6. Give the proper citation for the following cases:

a. 2006 Tax Court decision involving buyout equity in the marital residence and the deductions for alimony.

b. 2009 Court of Federal Claims decision involving retro-activity, partnerships and contingent obligations.

c. 2008 Court of Appeals decision involving the right of an un-enrolled tax preparer clients before IRS.

d. 2007 District Court decision involving interest paid on an underpayment of income tax being personal interest.

7. Give the proper citation for Revenue Procedure 86-41.

8. What are the AFTR and Federal Reporter citations for 97-1 USTC ~ 50,322?

9. What BNA Tax Management Portfolio contains detailed discussion of the investment credit?

10. What is the most recent revenue procedure providing information about rules under which IRS will treat the child of divorced parents as a dependent of either parent?