Chapter 2 Flashcards
Does an article in USA Today have primary authority?
No
Does IRS instructions have primary authority?
Yes
Do treasury regulations have primary authority?
No
Do IRS publications have primary authority?
No
When is a C corp return due if it has a 10/31-year end?
2/15
When is a partnership return due if it has a 4/30-year end?
7/15
When are your 2023 taxes due?
April 15, 2024
The tax return filing requirements for individual taxpayers only depend on the taxpayers filing status?
True or False?
False
If a taxpayer is due a refund, she does not have to file a tax return.
True or False?
False
If April 15th falls on a Saturday, the due date for individual tax returns will be on Monday April 17th (assuming it’s not a holiday)
True or False?
True
Which of the following is not a factor that determines whether a taxpayer is required to file a tax return?
A. Filing status
B. Taxpayer’s gross income
C. Taxpayer’s employment
D. Taxpayer’s age
E. None of the choices are correct.
C. Taxpayer’s employment
Bill filed his 2023 tax return on mArch 15th, 2024. The statute of limitations for IRS assessment on Bill’s 2023 tax return should end:
Multiple Choice
A. March 15thMarch 15th, 2026.
B. April 15thApril 15th, 2026.
C. March 15thMarch 15th, 2027.
D. April 15thApril 15th, 2027.
E. None of the choices are correct.
D. April 15thApril 15th, 2027.
Which of the following is not considered a primary authority?
multiple Choice
A. Tax Court case
B. Treasury Regulation
C. Revenue ruling
D. Tax service
E. None of the choices are correct.
D. Tax service
Which of the following is not considered a secondary authority?
Multiple Choice
Textbook
Private letter ruling
Tax article
Tax service
None of the choices are correct.
Private letter ruling
Which of the following has the lowest authoritative weight?
Multiple Choice
Legislative regulation
Private letter ruling
Revenue ruling
Interpretative regulation
Revenue procedure
Private letter ruling
