Bankruptcy cases are heard by:   a. either federal or state courts.   b. the U.S. Bankruptcy Courts within the federal court system.   c. the U.S. Court of Appeals for the Federal Circuit, if an appeal is made.   d. only special courts within the state court system.

2.Which of the following are courts of original jurisdiction? a.U.S. Tax Court b.U.S. District Court c.U.S. Court of Federal Claims d.All of the above e.None of the above

Bankruptcy is covered under SOP 90-7. True or False

State the history and current status of bankruptcy and bankruptcy laws.

In an agreement involving the right to acquire property, which of the following are conditions that must be met in order for the IRS to accept the purchase price set in the agreement as a valid measurement of the value of the property being acquired? The purchase price must be determined by an independent appraisal submitted with an informational gift tax return regardless of the value of the property. The agreement must be a bona fide business arrangement. The agreement cannot be an attempt to transfer the property to a family member for less than full and adequate consideration. The terms of the agreement must be comparable to those that would be entered into by persons in an arm's-length transaction A) I and III     B) II and IV     C) I and IV     D) II, III, and IV

20. Bankruptcy cases are heard by: a.either federal or state courts. b.the U.S. Bankruptcy Courts within the federal court system. c.the U.S. Court of Appeals for the Federal Circuit, if an appeal is made. d.only special courts within the state court system.

Please explain the objection and appeal process to an assessment of private ruling under partIVC (Taxation Administration Act)