Which of the Following Statements Regarding Proposed Regulations Is Not

question 72

Multiple Choice

Which of the following statements regarding proposed regulations is not correct?

• A)Proposed regulations expire after three years.
• B)Practitioners and other interested parties may comment on proposed regulations.
• C)Proposed and temporary regulations are generally issued simultaneously.
• D)Proposed regulations do not provide any insight into the IRS's interpretation of the tax law.

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Definitions:

Secondary Obligation

An obligation that arises only after a primary obligation has not been fulfilled, often seen in guarantor or surety arrangements.

Statute of Frauds

A legal principle that requires certain contracts to be in writing and signed by the parties to be enforceable.

Prenuptial Agreements

Agreements made by a couple before they marry concerning the ownership of their respective assets should the marriage fail.

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, aimed at harmonizing the law among the states.