Which of the following is true of revenue rulings?
A)Although they represent the official policy of the IRS, courts may overrule them.
B)Lower courts are bound by them.
C)They are a subset of Treasury Regulations.
D)Once affirmed by an appellate court, they have the force of law.
E)All of the above are true.

Question

Quizplus · Accepted Answer

Revenue rulings represent the official policy of the IRS, but they are not binding authority on the courts. Courts may overrule them if they find them to be incorrect. Lower courts are not bound by revenue rulings, and they are not a subset of Treasury Regulations. Once affirmed by an appellate court, they still do not have the force of law.

Which of the Following Is True of Revenue Rulings