Name: Class: Date: chapter 1 Indicate whether the statement is true or false. 1. The Golsen rule no longer applies to the U.S. Tax Court. a. True b. False 2. Internal Revenue Code Section 318, which deals with the definition of related parties with respect to stock redemptions, includes brothers and sisters in the related-party definition. a. True b. False 3. ―Legislative" regulations carry more weight than ―interpretative‖ regulations. a. True b. False 4. A Revenue Ruling is a legislative source of Federal tax law. a. True b. False 5. A jury trial is available when a case is heard by a U.S. Court of Appeals. a. True b. False 6. Complete avoidance of a capital gain tax occurs when the owner of appreciated property transfers it by death. a. True b. False 7. The taxation part of the CPA exam (REG) is now one-third essay. a. True b. False 8. Revenue Procedures deal with the internal management practices and procedures of the IRS. Copyright Cengage Learning. Powered by Cognero. Page 2 a. True b. False 9. The Standard Federal Tax Reporter is published by Research Institute of America. a. True b. False 10. Alabama and South Carolina are community property states. a. True b. False 11. Determination letters usually involve proposed transactions. a. True b. False 12. Subchapter P refers to the subchapter in the Internal Revenue Code that deals with partners and partnerships. a. True b. False 13. Regulations are issued by the Treasury Department. a. True b. False 14. The U.S. Federal government has a provision in the Constitution that p