1.

Question 1
The Internal Revenue Code was codified in which of the following years?

Student Correct Feedback

Response Answer

1. 1913

2. 1933

3. 1954

4. 1957

5. None of the
above
General The US Congress codified the tax code in 1933, which was first
Feedback: established in 1913 under the Sixteenth Admendment.
Score: 0/4
New 4/4 This score has been adjusted by the grader.
score:

2. Question 2
Tax bills are handled by which committee in the U.S. Senate?

Student Correct Feedback

Response Answer

1. Taxation
Committee.

2. Ways and
Means
Committee.

3. Finance
Committee.

4. Budget
Committee.

5. None of the
above.
General The Finance Committee is the Senate side of all taxiation bills. The
Feedback: Ways and Means Committee is the House side.
Score: 4/4

3. Question 3
Which of the following sources has the highest tax validity?
 Student Correct Feedback
Response Answer

1. Revenue Ruling.

2. Letter ruling.

3. Regulations.

4. Internal
Revenue Code
section.

5. None of the
above.
General The Internal Revenue Code section has the highest tax validity. This is
Feedback: because the code is the actual law. The other sources help clarify the
code when the code is not clear as to handle a particular situation.
Score: 4/4

4. Question 4
Both economic and social considerations can be used to justify:

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Response Answer

1. Various tax
credits,
deductions, and
exclusions that
are designed to
encourage
taxpayers to
obtain
additional
education.

2. Disallowance of
any deduction
for expenditures
deemed to be
contrary to
public policy
(e.g., fines,
penalties, illegal
kickbacks,
bribes to
government
officials).

3. Favorable tax
treatment for
accident and
health plans
provided for
 Student Correct Feedback
Response Answer

employees and
financed by
employers.

4. Allowance of a
deduction for
state and local
income taxes
paid.

5. None of the
above.
General Congress looks at economic and social considerations when writing
Feedback: tax law. They create incentives in the tax law to encourage citizens to
do certian things. In this case they are allowing tax credits to
encourage further education which in turn will increase the tax base
and add to society.
Score: 0/4

5. Question 5
Which trial court decision is generally more authoritative?

Student Correct Feedback

Response Answer

1. U.S. District
Court.

2. U.S. Tax Court.

3. U.S. Court of
Federal Claims.

4. Small Cases
Division of the
Tax Court.

5. All of the above

are the same.
General U.S. Tax Court hears only tax cases and the all of the Judges are tax
Feedback: experts.
Score: 0/4