TXX5769

1. Which of the following is an administrative source Federal tax law that is primary authority?

a. U.S. Constitution.

b. collected rulings of the various courts on Federal tax matters.

c. revenue procedures.

d. technical advice memos.

2. Which, if any, of the following statements is accurate?

a. Every Code section has a treasury regulation.

b. Proposed regulations expire 3 years after they are issued if they do not become final regulations within that time.

c. Taypayers but not the IRS, are bound by final regulations.

d. None of the statements is accurate.

3. Which of the following treasury regulations would represent a temporary regulation?

a. Treas. Reg. Sec. 1018T.

b. Treas. Reg. Sec. 1018-1T.

c. Treas. Reg. Sec. 1.1018-1T.

d. none of the above.

4. Which statement, if any, is accurate regarding Treasury Regulations?

a. Temporary Regulations cannot become final until the expiration of at least 30 days after they are published in the Federal Register.

b. The IRS cannot make changes to Proposed Regulations before they become final.

c. The public must be given an opportunity to comment on Temporary Regulations before they become final.

d. None of the statements is correct.