Which of the following sources has the highest tax validity?
A)Treasury Regulation.
B)Revenue Procedure.
C)Internal Revenue Code.
D)Proposed Regulation.
E)All of the above have same weight.

Question

Quizplus · Accepted Answer

The Internal Revenue Code (IRC) has the highest tax validity as it is the primary source of federal tax law in the United States. The IRC takes precedence over other sources, including Treasury Regulations and Revenue Procedures, which are issued by the Internal Revenue Service to provide guidance on interpreting the IRC. Proposed regulations do not have the same weight as final regulations or the IRC itself, as they are subject to public comment and revision before being finalized. Therefore, the IRC is the best choice as the source with the highest tax validity.

Which of the Following Sources Has the Highest Tax Validity