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Question 1
Under Treasury Department Circular 230, a tax practitioner who knows of a client's omission from a previously filed return must:
Correct Answer:
Promptly advise the client of the omission and the consequences of not correcting it
Question 2
A CPA preparing a client's federal income tax return discovers an aggressive position with a 35% chance of being sustained on the merits. Under IRC §6694, the preparer can avoid the understatement penalty if the position is:
Correct Answer:
Disclosed on Form 8275 — there is a reasonable basis for the position
Question 3
AICPA Statements on Standards for Tax Services (SSTS) No. 1 addresses:
Correct Answer:
Tax return positions and the level of authority required before recommending a position
Question 4
A taxpayer files a calendar-year 2024 return on April 15, 2025. What is the latest date the IRS may generally assess additional tax under the normal §6501 statute of limitations?
Correct Answer:
April 15, 2028
Question 5
Under IRC §6662, the accuracy-related penalty for substantial understatement of income tax (individual) generally applies when the understatement exceeds:
Correct Answer:
10% of tax required to be shown OR $5,000, whichever is greater
Question 1
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About this Exam

Prepare with the CPA REG Practice Questions - AICPA CPA Exam - Regulation (REG) Core Section Exam practice quiz. This question bank includes 100 questions covering return, income, taxpayer, deduction, and individual. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CPA REG Practice Questions - AICPA CPA Exam - Regulation (REG) Core Section Exam

This practice set contains 100 questions from the matching question bank and focuses on return, income, taxpayer, deduction, and individual. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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