Identify Which of the Following Statements Is False

question 67

Multiple Choice

Identify which of the following statements is false.

• A) As a practical consideration, taxpayers always find it preferable to obtain an advance ruling on questionable tax situations.
• B) The IRS issues annually a revenue procedure that prescribes how a letter ruling should be requested and the information to be contained in the ruling request.
• C) The request for a ruling may contain a suggested conclusion (or answer) that the taxpayer proposes that the IRS adopt in the described situation.
• D) Third parties may not cite private letter rulings as authority for the tax consequences of their transactions.