Which of the following statements regarding Treasury Regulations is false? In dealing with the IRS, Treasury...
Which of the following statements regarding Treasury Regulations is false?
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In dealing with the IRS, Treasury Regulations have the authority of law. |
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Courts are bound to follow Treasury Regulations when they are in conflict with the law. |
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The legal citation for a Treasury Regulation refers to the associated Internal Revenue Code section. |
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Regulations are published in the Federal Register. |
Homework Answers
Answer = b) courts are bound to follow Treasury Regulations when they are in conflict with the law.
Explanation:
Courts are not bound to follow Treasury Regulations; statutes (the Internal Revenue Code) control when there is a conflict with a Treasury Regulation.
Treasury Regulations explain the language of the Internal Revenue Code by giving explanations, definitions, examples, and rules that clarify the intent of Congress. They are not binding on any court if they conflict with the Code. Thus, option(b) is false.
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