Which of the following statements is correct?

Question

Quizplus · Accepted Answer

Temporary Regulations are effective for a limited time period and expire three years after issuance. The correct statements regarding tax authority are: A) Revenue Rulings are issued by the IRS and provide guidance on how the IRS interprets and applies the tax laws to specific situations; B) Private Letter Rulings are issued by the IRS in response to a specific taxpayer's request for guidance on their tax situation and are not considered general tax authority; D) The Internal Revenue Code pertains to many types of taxes, including income taxes, estate and gift taxes, and excise taxes.

Which of the Following Statements Is Correct