TXX5769

1. Which of the following statements is accurate with regard to IRS Revenue Rulings?

a. Revenue Rulings may only cite Code Sections but not Treasury Regulations.

b. Revenue Rulings may be revoked only by the Courts, not by the IRS.

c. A Revenue Ruling may be revoked by a subsequent Revenue Ruling that expressly supersedes the earlier Revenue Ruling.

d. All of the above statements are correct.

2. Which of the following statements is not accurate regarding effective dates in the Internal Revenue Code?

a. Sections of a new tax law may have different effective dates.

b. New provisions of the Internal Revenue Code do not always go into effect immediately upon signing of the law by the President.

c. Some effective dates can precede passage of the act.

d. All are accurate.