Which of the following statements is INCORRECT regarding effective dates in the Internal Revenue Code?
A)All sections of a new tax law gointoeffect at the same time.
B)New Code provisions may not gointoeffect immediately upon adoption by Congress.
C)Some effective dates can precede passage of the act.
D)All of these are correct.

Question

Quizplus · Accepted Answer

Effective dates in the Internal Revenue Code can vary widely; not all sections of a new tax law necessarily go into effect at the same time. Some provisions may have delayed effective dates, while others can be retroactive, affecting transactions from before the law's passage.

Which of the Following Statements Is INCORRECT Regarding Effective Dates