Question

1.          Which, if any,ofthefollowingstatementsisnot accurate?

a.         Every Codesectionhas a treasury regulation.

b.         The current Code is the 1986 Code, as amended.

c. None of the statements is accurate.

2.Which of the following statements is not accurate regarding effective dates in the InternalRevenueCode?

a.        Sections of a new tax law may have different effective dates.

b.       New provisions of the Internal Revenue Codedo not always go into effect immediately upon signing of the law by the President.

c.        Some effective dates can precede passage of the act.

d.       All are accurate.

3.Intelliconnect provides access to the

a.        Standard Federal Income Tax Reporter.

b.       The U.S. Master Tax Guide.

c.        The Treasury Regulations.

d.       All of the above.

4.What areas of taxation are included in the Bloomberg BNA Portfolios?

a.       Real estate taxation.

b.       Estate and gift taxation.

c.       Tax accounting.

d.       Income tax deductions.

e.       All of the above.

Answer 1

Since, multiple question have been posted and question 1 is not complete as it has onlt three answer options, I have answered the second question relating to effective dates.

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Question 2:

New provisions of the Internal Revenue Code do not always go into effect immediately upon signing of the law by the President. (which is Option B)

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Explanation:

Sections of a new tax law may have different effective dates. Therefore, Option A is accurate.

A new provision of Internal Revenue Code may not go into effect immediately upon its adoption by Congress. However, new provisions of the internal revenue code always go into effect immediately upon signing of the relevant law/bill by the President. Therefore, Option B is incorrect.

Some effective dates can precede passage of the act. Therefore, Option C is also accurate.

Option D is not correct as Option B is inaccurate.