ssq16 - taxpayer and the government disagree. As such, they...

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Chapter 16 Self-Study Questions 2. Briefly describe the three categories of primary authorities and the types of authorities within each category. Primary tax law authorities consist of legislative, administrative, and judicial sources. Legislative sources include the U.S. constitution, the Internal Revenue Code of 1986, tax treaties, and legislative reports that accompany changes in the tax law. As such, they constitute the actual tax law. Administrative sources consist of those documents published by the Treasury Department and the Internal Revenue Service that interpret provisions of the tax law as passed by Congress. These sources include Treasury Regulations, Revenue Rulings, Revenue Procedures, Letter Rulings, and various other internal documents that are available to the public. Judicial sources consist of court decisions on matters in which the
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Unformatted text preview: taxpayer and the government disagree. As such, they provide interpretation of both legislative and administrative sources. 14. What is a Treasury regulation? Is it binding on the courts? A Treasury regulation is the Treasury Department's official interpretation of a provision in the Internal Revenue Code. Because of the extensive review and public comment process that goes into the issuance of a regulation, they are considered to have the force and effect of the law. However, they are not binding on the courts. That is, if the courts find that a Treasury regulation is inconsistent with the expressed or implied intention of the related Code Section, they will overturn the regulation and not give effect to its interpretation....
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This note was uploaded on 04/18/2008 for the course ACCT 3013 taught by Professor Murphy during the Spring '08 term at Oklahoma State.

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