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

Question

Quizplus · Accepted Answer

The Internal Revenue Code (IRC) is the primary source of federal tax law in the United States and has the highest authority. Treasury Regulations and Revenue Rulings interpret the IRC, but they do not have the same level of authority. Proposed Regulations are not final and thus have less authority.

Which of the Following Sources Has the Highest Tax Validity