California State University, Fullerton

ACCT 470

1)Distinguish between the following terms: cited case, citing case, citation, and cites.

2. Use the Checkpoint Federal Practice Area to answer the following questions:

1. What is the title of I.R.C. § 178?
2. What regulations were issued on this Code section? What are their titles?
3. What Code section is added to Reg. § 1.178-1(a) by the proposed regulation?
4. Which FTC paragraphs furnish an analysis of § 178(a)? What explanation paragraphs are linked to all of § 178?

5. Which Tax Court case is related to § 178 and amortization of grazing rights?

3. Use the RIA Citator to evaluate 59 A.F.T.R. 2d 87-392.

1. What is the name of the case and what are its parallel citations?

2. In which circuit court was this case heard?

3. What are the two main issues in the case?

4. For the professional fees discussed in the case, which two categories were considered? What did the court decide with respect to each?

5. Have any other cases cited McCarthy ? Does it modify any previous cases?

6. Use the FTC related information button and discuss whether this holding would be true for a transaction today.

4. List the three significant editorial services provided by IntelliConnect and discuss the differences between them

5. Using CCH IntelliConnect, perform a keyword search on the topic of making an election to defer the determination of whether an activity is not engaged in for profit (hobby) until after the fourth year. Use the following terms: hobby election defer

1. Use the Standard Federal Tax Reporter and the Tax Research Consultant and perform the search separately in each; then use the Standard Federal Tax Reporter and the Tax Research Consultant together in the same search. Which approach provided the best search results for finding the applicable tax law?

2. Use the results of the previous search, links, and related documents buttons to identify the Code section applicable to this issue.

3. How does the Code section answer the question regarding how the make the election?

4. Using the Related Documents button for Regulations, what does Reg. § 1.183-3 say about making the election?

5. Which regulation discusses the election, and what is the status of the regulation? When was it issued?

6. Use the CCH IntelliConnect Citator to evaluate the 1956 William George Tax Court case.

1. What is the citation for the case?
2. What is the title of the paragraph where George is annotated?

3. What Code section is related to the George case?
4. A revenue ruling cites the George case. What is the citation and title? How does the revenue ruling evaluate the George case?

7. Use the CCH IntelliConnect Citator to answer the following questions regarding the 19th revenue procedure of 2002:

1. What does this procedure address? Which Code sections are involved?
2. What is its current status?
3. What types of pronouncements have cited this procedure? What is the most current citing of the procedure?