Temporary regulations are generally issued
A)Shortly after enactment of a major change in the tax law so that a taxpayer has guidance until final regulations are formulated.
B)To clarify existing regulations that are incomplete.
C)To deal with taxpayers living temporarily overseas who may be subject to tax treaties between the United States and foreign countries.
D)To define tax treatment for a general set of facts on which the Code is silent; they have the full force and effect of law until the Code addresses the issue.
E)To interpret the Code, but they do not have the same binding effect as final regulations.

Question

Quizplus · Accepted Answer

Temporary regulations are issued shortly after enactment of a major change in the tax law so that taxpayers have guidance until final regulations are formulated. They have the same binding effect as final regulations until they are replaced by final regulations.

Temporary Regulations Are Generally Issued