Which of the following is a statutory source of tax authority?
A)Internal Revenue Code.
B)IRS Regulation.
C)Revenue Ruling.
D)Tax Court decision.

Question

Quizplus · Accepted Answer

The Internal Revenue Code is a statutory source of tax authority, which means that it has been established by law (Congress) and is therefore legally binding. IRS regulations, rulings, and Tax Court decisions are all examples of administrative sources of tax authority, which are interpretations of the tax laws and are subject to change based on new developments or challenges.

Which of the Following Is a Statutory Source of Tax