Lesson 3 Administrative

Question 1

What is the first primary source of tax law?

Answer 1

The internal revenue code

Question 2

What i9s the second primary source of tax law?

Answer 2

Administrative law
Regulations - Iussed by the US treasury Department and are interpretions of the Internal Revenue Code. Full force and effect of law and are second highest authority of tax law (after the IRC)
Three types
1. Proposedq
2. Temporary
3. Final