Which of the following is generally accorded the highest level of authority?

Question

Quizplus · Accepted Answer

Legislative regulations are considered the highest level of authority because they are the result of the formal rulemaking process, which includes a period for public comment and review by Congress. Private Letter Rulings apply only to the specific taxpayer who requested them, while Revenue Rulings provide general guidance but may not have the force of law. Decisions of a U.S. District Court may apply only to a specific taxpayer or case and may be subject to appeal. The Internal Revenue Bulletin is a publication that contains guidance and updates but does not have the force of law.

Which of the Following Is Generally Accorded the Highest Level