acct 827 admin reg and rul

acct 827 admin reg and rul - Chapter Administrative...

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Chapter Chapter Administrative Administrative Regulations & Regulations & Rulings Rulings
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2 ADMINISTRATIVE ADMINISTRATIVE REGULATIONS REGULATIONS AND RULINGS AND RULINGS Regulations Revenue Rulings Revenue Procedures Letter Rulings Other IRS Pronouncements
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3 Regulations Regulations Overview Types Effective Date Citations Assessment Locating
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4 Overview of Regulations (1 of 2) Regulations d Treasury’s official interpretation of Code Code authorizes Treasury Secretary to prescribe Regs under §7805(a)
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5 Treasury Department d Administers U.S. tax laws d Secretary of Treasury d Member of Presidential cabinet d IRS d Commissioner appointed by Pres. d A division of Treasury Overview of Regulations (2 of 2)
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6 Types of Regulations Proposed Final Temporary
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7 Proposed Regulations (Proposed Treasury Decisions) Issued at least 30 days prior to publishing final Treasury Decision Comments (public hearings) can affect final form Do NOT have the effect of law
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8 Final Regulations Final Treasury Decisions are integrated with previously approved Regulations (TDs) Two Types d General d Legislative
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9 Issued under general authority of IRS to interpret the language of the Code Do not carry same authority as statutes (Code) Sometimes called interpretive regulations” General “Interpretive” Regulations
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10 Legislative Regulations Congress directs IRS to provide details for tax statutes Carry same authority as statutes (e.g. Consolidated Regs.)
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Temporary Regulations Issued in response to congressional or judicial change Provide immediate guidance Simultaneously issued as proposed regs. Force of final regs.
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This note was uploaded on 05/23/2011 for the course ACCT 827 taught by Professor Gayden during the Spring '11 term at Governors State University.

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acct 827 admin reg and rul - Chapter Administrative...

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