Asked by Andrews Osei antwi on May 16, 2024
Verified
Which of the following types of Regulations take the place of the Internal Revenue Code and have the full effect of law?
A) Final.
B) Legislative.
C) Temporary.
D) Proposed.
Internal Revenue Code
A comprehensive set of tax laws created by the Internal Revenue Service (IRS) governing federal tax obligations.
Legislative Regulations
Laws and rules established by government legislative bodies that dictate certain behaviors or actions within society or specific industries.
- Recognize the different types of tax regulations and their legal impact.
Verified Answer
MJ
Mystic JewelMay 19, 2024
Final Answer :
B
Explanation :
Legislative regulations are issued after being passed by both the House of Representatives and the Senate, and they have the full effect of law. Final regulations are also binding and have the force of law, but they are issued without going through the legislative process. Temporary regulations are similar to final regulations but have a limited duration, and proposed regulations are not yet final and do not have the force of law.
Learning Objectives
- Recognize the different types of tax regulations and their legal impact.