Which of the following statements regarding proposed regulations is not correct?
A)Proposed regulations expire after three years.
B)Practitioners and other interested parties may comment on proposed regulations.
C)Proposed and temporary regulations are generally issued simultaneously.
D)Proposed regulations do not provide any insight into the IRS's interpretation of the tax law.

Question

Quizplus · Accepted Answer

Proposed regulations do provide insight into the IRS's interpretation of the tax law. They are issued to provide guidance on how the IRS plans to apply existing tax law or new legislative changes.

Which of the Following Statements Regarding Proposed Regulations Is Not