Chapter 4 Test Bank

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Federal Tax Research, Ninth Edition ADMINISTRATIVE REGULATIONS AND RULINGS TEST BANK, Chapter 4 Multiple Choice Choose the best answer for each of the following questions: ____ 1. The IRS, as an administrative agency, is responsible for: a. formulating and interpreting the tax laws b. interpreting and enforcing the tax laws c. formulating and evaluating the tax laws d. planning and formulating the tax laws ____ 2. Most official IRS pronouncements are written by: a. The IRS Office of Chief Counsel b. The IRS Commissioner c. The Treasury Secretary d. IRS Field Office Staff Members ___ 3. The Commissioner of the IRS is appointed by the: a. The Treasury Secretary b. The President of the United States c. The Chief Counsel of the IRS d. General Counsel of the Treasury Department ___ 4. Which statement is CORRECT regarding Proposed Regulations? a. They cannot become final until the expiration of at least 30 days after they are published in proposed form. b. The IRS cannot make changes to Proposed Regulations before they become final. c. The public must be given an opportunity to comment on Proposed Regulations before they become final. d. Only (a) and (c) are correct. ___ 5. Which of the following IRS pronouncements has the highest weight of authority? a. IRS Revenue Rulings b. IRS Taxpayer Publications c. IRS Announcements d. All of the above IRS pronouncements have equal weight of authority. ___ 6. Treasury Decisions are published first, officially, in: a. the Internal Revenue Bulletin b. first

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