Which statement is INCORRECT regarding Proposed Regulations?
A) They donot have the same effect as law.
B) Proposed Regulations are useful for understanding the IRS's current position on an issue but generally should not be relied on by a taxpayer unless the IRS provides explicit advice on doing so.
C) Proposed Regulations carry the same authority as Final Regulations.
D) None of these are correct.
Correct Answer:
Verified
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