Which of the following sources has the highest tax validity?
A)Treasury Regulation.
B)Revenue Procedure.
C)Internal Revenue Code.
D)Temporary Regulation.
E)All have the same weight.

Question

Quizplus · Accepted Answer

The Internal Revenue Code has the highest tax validity as it is the primary source of federal tax law. It is enacted by Congress and signed into law by the President, while Treasury Regulations and Revenue Procedures are secondary sources that interpret and implement the Internal Revenue Code. Temporary Regulations have the same weight as Treasury Regulations and are only valid for a limited time period. Therefore, the Internal Revenue Code carries the highest weight in terms of tax validity.

Which of the Following Sources Has the Highest Tax Validity