Review a compact Certified Public Accountant Taxation and Regulation (CPA REG) cheat sheet for federal tax procedure, business law, individual tax, entity tax, property transactions, basis, and authority before Finance Prep practice.
Use this CPA REG cheat sheet as a short tax-and-law reasoning checklist before mixed practice. CPA REG means Certified Public Accountant Taxation and Regulation; the section rewards candidates who identify taxpayer type, timing, basis, character, authority, and legal effect before choosing the answer.
| Item | CPA REG cue |
|---|---|
| Provider | AICPA |
| Section | Taxation and Regulation (REG) |
| CPA Exam role | Core section |
| Time reference | 4 hours |
| Passing score reference | 75 |
| Practice format | 72-question MCQ diagnostic plus topic drills and mixed practice in Finance Prep |
| Area | Weight | What to know | Common trap |
|---|---|---|---|
| Ethics, Professional Responsibilities and Federal Tax Procedures | 10-20% | authority, preparer responsibilities, penalties, taxpayer rights, IRS procedure | treating procedure as ordinary tax calculation |
| Business Law | 15-25% | contracts, agency, secured transactions, debtor-creditor, business structures | answering from common sense instead of legal relationship |
| Federal Taxation of Property Transactions | 5-15% | basis, amount realized, character, holding period, loss limits | mixing realized gain with recognized gain |
| Federal Taxation of Individuals | 22-32% | gross income, deductions, credits, filing status, limitations | ignoring phaseouts, basis, or timing |
| Federal Taxation of Entities | 23-33% | C corporations, S corporations, partnerships, entity and owner effects | forgetting who is taxed and when |
After each CPA REG set, write the taxpayer type, transaction, timing, basis effect, character, and authority issue for missed questions. If misses cluster around entities or property, drill those pages before another timed set.